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Updated over 8 years ago on .
How to value house on XL lot? Almost an acre
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!