Help me analyze this small land split deal
I have a listed property under contract for $180K. Address is 165 County Road 307 in Jourdanton, TX. My plan would be to purchase, split into 4 lots of approximately 3 acres each, and sell individually. Details below.
- 12.44 acres
- Water at the road
- Electricity and septic on site
- 3 existing outbuildings on site, 2 of which are easily removable and the the 3rd has a slab foundation. Used for storage. There was a mobile home that has since been removed.
- All finished lots would have approx. 150 feet of road frontage.
- Similar lots within 10 miles have sold for $85K or more each.
- County has given soft approval that plan meets subdivision requirements.
- Local surveyor has quoted approx. $8K for the full survey and replat.
This is my first land subdivision deal. What else should I confirm before closing on it? Also willing to partner with someone who can show me the ropes.
Most Popular Reply
Your breakdown does all seem good to me and good that you have looked at utilities as well. And yep, in the county you're all set with no zoning restrictions. I looked up the site, there is no concern with floodplain, so good there.
However, since the lots are not 5+ acres, I believe Atascosa County does still require stamped engineer drainage analysis. I work in SA as a civil engineer, feel free to reach out with any more specific questions.