Replacement cost would be what it costs to replace the structure.  

Find the style that people are doing in the area then find equivalent options for materials at local supply houses.

Seems a bit high on the exp ratio near 43% but we do pay a premium for our solid cleaning lady, she also stocks supplies, runs errands and other duties for no "extra" charge.

It comes down to supply and demand.

🏡 Real Estate Market Report (Single-Family Homes)📊 Mortgage Rates:30-Year Conventional: 7.10%30-Year VA: 6.45%💰 Median Sales Price:October: $485,000November: $484,995December: $484,500📈 New Listings:October: 1,959November: 1,498December: 1,175📅 Median Days on Market:October: 22 daysNovember: 24 daysDecember: 29 days📦 Months Supply of Inventory:October: 3.3 monthsNovember: 3.2 monthsDecember: 2.7 months🤔 What Does "Months Supply of Inventory" Mean?

These penalties can vary depending on the loan structure and the lender's terms.

Asking $5M https://www.zillow.com/homedetails/179-Siletz-Hwy-Lincoln-Ci...Coastal Ranch - 4 structures. 775 Acres.

When looking to structure a deal like this, look for a dated property in working condition. 

The property next to me is a 1 acre lot, it has a Well, Septic and Power, but no structure.

The biggest cost variables are structural surprises, electrical/plumbing overhauls, and environmental hazards (asbestos, lead, etc.).