Real Estate Consultant · Philadelphia · Member since 2026 · 37 posts · 14 votes
I reviewed a vacant lot this week for someone who wanted to know whether it had future upside beyond building one home.
At first glance, it looked promising. Corner lot, decent size, growing area.
The listing didn't say it could be split, but it also didn't say it couldn't, so I started digging.
The deed showed a recorded easement running along one side of the property.
FEMA maps showed that same side was affected by the floodplain.
Then I checked the local zoning requirements against the recorded dimensions. The lot came up just short of the minimum needed to create two conforming lots.
None of those findings by themselves would've changed my opinion much.
Together, they answered the question pretty clearly.
It reminded me how often the value of a parcel comes down to understanding its constraints, not just its location or acreage. Two buyers can look at the same listing and come away with completely different valuations depending on what they uncover in the public records.
I wasn't trying to "find a problem." I was just trying to answer one question: What can this property realistically become?
That's usually where I start whenever I'm looking at vacant land.
Real Estate Consultant · Westfield, IN · Member since 2008 · 101 posts · 22 votes
1mo
Great example of things to look for when looking at a lot.
One thing I didn’t see in your post was if zoning would allow a duplex or triplex on the lot. Even if you can’t split it for 2 lots could you build multiple units on the single lot? This could also provide some upside beyond splitting it into 2 lots.
Honolulu, HI · Member since 2008 · 3k+ posts · 2k+ votes
1mo
We often see here smallish lots that are converted to "condo" properties. Still, detached homes, but a shared driveway and other elements. Condo Boards can be extremely informal, but still require at least an Annual Meeting. As much as I rail against buying condo/HOA properties as investment, if instead, you are buying land to squeeze highest and best out of, this can work.
Real Estate Consultant · Remote · Member since 2026 · 11 posts · 1 vote
2w
This is such a good example of why looking at one constraint in isolation can be misleading. An easement, floodplain, or dimensional issue might not kill a deal individually, but once they start overlapping, the realistic use of the property can change pretty quickly.
I’ve found that the most useful question really is exactly what you said: not just “Is there a problem?” but “What can this property realistically support?”
Real Estate Consultant · Remote · Member since 2026 · 11 posts · 1 vote
2w
This is such a good example of why looking at one constraint in isolation can be misleading. An easement, floodplain, or dimensional requirement might not kill a deal on its own, but once they start stacking up, the realistic use of the parcel can change pretty quickly. That “what can this property realistically become?” question is exactly the right one to ask.