I just received my first signed purchase agreement for a 1.26 Acre lot in El Paso County, CO. I have it under contract for $4,226.97, and the previous owner bought it for $2,137 in 2008. While I believe comps say one acre could sell for around $29,999, $14,000 cheaper than a .74 acre lot in the same neighborhood, and $30,000 below the cheapest 1.38 acre lot in the county. It’s an infill lot surrounded by homes near mountainous terrain and the access is ~16ft wide and ~160-200ft long before it expands to more acreage. The roads are paved and even has google street view access along the neighborhood. My main concern is the thin access point, and the large trees are blocking how level the terrain is.
( Pictures added below; google earth not to scale)
Would you do this deal? And could you explain why, thank you!
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