I prefer to look at the census tract level (and sometimes block level) as zip codes can be too large of an area to understand a sub-neighborhood's chance of success.  

@Robin Frazier It’s going to depend on several things site related such as the reviewing agencies with authority (I.e City of Houston versus Waller County), availability of existing utilities, detention/drainage criteria, floodplain status of the tract, and level of traffic impact analysis needed (if any).

The value of what I paid into them gets you a 3/1.5 tract home in Pleasanton.

You dig out the old plat... see that in fact that 5 acre tract has a shadow plat under it. take it over to the title co. and the planning depart. get lot confirmations and for not much money you have 50 legal lots of record and off you go..

RichGot it.I normally deliver everything new top to bottom including re-texturing the walls - when you walk in it is looks like a brand new tract home.

The large tract builders average $140 per square foot.

I watched a 15 acre tract get bid up to full market price. 

Realistically it's more like $275-350/ft2 these days for an average home, and even the tract shacks are costing $250/ft2. 

I would suggest that those buyers that want a 2.5 acre waterfront estate want to be surrounded by those types of properties, not tract homes on .65 acres.Have you considered partnering with a builder to develop out the four lots?

You need to consider that using Baltimore neighborhood boundaries or census tract data you will likely be looking at an average of both good and bad areas.