Well-defined criteria must have a firm count of the following factors:Unit countLocation (Neighborhood Grade)Year builtROIRehab Scope NeededOccupancyUnit MixFor instance, I have the following set parameters in my criteria and I never deviate from it (no matter what!)

@Svend W.I like using Niche.com for a general overview of each neighborhood. https://www.niche.com/places-t...I've found the letter grades they give for different neighborhoods are pretty accurate.

A fun facto about me is that I was on the Jay Leno show when I was in 4th grade.

You're right - Home values have skyrocketed in the past year and a half and with Big Tech and Pharmacy boom starting to take over and relocate here I don't see it slowing down anytime soon.

Poor old Corner “B” on the other hand has a large overburden of soil (you need to move (export) a mountain of dirt) to get the site to “grade” and utilities that need to be extended or upgraded.Cost Issues In Closing: What I believe you are trying to do is get a feel for how much the Project you have in your “mind’s eye” will cost.

The land is just sitting there vacant and will require grading, a water meter installation, and septic to be added.

You might want to look at the price of getting any landscaping or grading you need at the same time to potentially save future costs. 

I just worked with a client who built a duplex and kept the cost low buy doing as much as he could himself, and only building at a rental grade level (which is not low grade).

I'm sure some folks on here will say "I did it with my best friend from 7th grade and it worked out" BUT I PROMISE you this is rare.

Do it right dig up the exterior, install new footing drains, tar the walls followed by a dimple board drainage board, and make certain the gutters are piped far away from the foundation and grade is also sloped away