How to Value Rural Land (to be used for STR and personal)?
Any tips for valuing rural land? The comps for land seem kind of all over the place so I'm not sure how to run the numbers. Is there a resource to find average values for an area? Or should a RE know this? The property I'm looking at is just over 7 acres, rural, has septic, water and electricity in place. I would like to put a structure (tiny house? mobile home?) on it to use for personal use but also rent out when we're not using it.
raw land can be tough to appraise but if you can find acreage with the same zoning, overlays, mineral conveyance, utilities, and near the same location- you can get pretty close to an average cost per acre. PM me the property- I can check what traded nearby.