Debilitated house lot value vs Empty lot value

[Meggen Morrison]

Does an empty lot have more value to a potential investor vs a property with a debilitated house on it? (Seems rhetorical to ask)

Thoughts are that the debilitated house is considered a liability and the empty lot is considered an asset. If you can buy low and demo the house cost affordably, then you can relist higher for a quick profit.

How do you go about finding the empty lot value vs the current property value?

Thanks in advance!

[Caroline Gerardo]

If the front facade is salvageable, if the utilities operate, if there are curbs and gutters all those have cash value that a lot doesn't offer. Most county/city planning departments will deeply discount your permits and be more relaxed on rules if you are total rehabbing or keeping the facade. Water, sewer, electric hook ups cost money. Temporary power costs money.  VS  what is the liability of house with broken windows? Break in, fire, accident, kids party, "artists" tagging and fall through the floor thus suing you....  Those could be covered by insurance. An empty lot doesn't require as much insurance coverage...   Answer is it depends on the location, depends on how bad a shape the property is, depends on buyer's skill set to quickly have plans, specs and never change the plans along the way.