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Updated over 8 years ago,

User Stats

154
Posts
54
Votes
Toben B.
  • Investor
  • Tulsa, OK
54
Votes |
154
Posts

How to value house on XL lot? Almost an acre

Toben B.
  • Investor
  • Tulsa, OK
Posted

Hello,

I am trying to determine how much more a house is worth when it comes with nearly an acre of land? 0.9 acres of lush forest backing to a park. 

This Tulsa neighborhood is solid middle class and there are simply not many large lots like this. Similar size 2200-2800 sq foot houses are selling for $73-$77 a square foot. 

The only lot sold recently was $30K for a 9000 sq foot lot. 

A mile west there is a uber high end neighborhood and lots of similar sizes are selling for $160K-$380K. 

How do I tease out what the lot is worth? I know it is more art than science. 

The house looks like it is worth $180K in good condition, but it needs some work and is on this huge lot. 

Thanks in advance!