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Cheboygan County, MI · Sold

MI-158930

7903 County Road 233

$706,400
$1,826/ac · 387 ac
Acreage387 ac
Price per acre$1,826/ac
ZoningUnzoned
Road accessLandlocked
UtilitiesOff grid
TopographyMixed
ListedOct 5, 2025
Coordinates45.5520, -84.3943
Loading terrain…
County GIS boundary

We do not yet have an active public ArcGIS connection for this county. Use the official source link to verify the parcel boundary and flood/zoning layers.

County market

Cheboygan County, Michigan. Northern Lower Peninsula recreational parcels and inland lake frontage.

View Cheboygan market data →

Step 1 · Is this a deal?

Due diligence

5 items to verify before you offer.

Risk index
46
Moderate risk
Wetlands16.7% of tract

Partial wetlands. Verify the delineated build envelope.

Average slope9.2%

Gentle grade, straightforward to develop.

Flood zoneShaded X

Moderate flood hazard on part of the tract.

Legal accessLandlocked

No legal access of record — resale is severely limited.

Power1,482 ft away

Service extension needed; get a utility quote.

Buildable area306.20 of 386.94 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate
$633,888
$569,861$697,914 · $1,638/ac on 387 ac
Asking vs estimate
+11.4%
Priced above the comp set

Weighted from 7 recorded sales, adjusted for tract size, access, utilities and time since sale. Range width reflects dispersion across the comp set.

AI deal brief

Comps, diligence flags, an offer number and what to ask the seller.

Offer calculatorAsking $706,400
Maximum allowable offer
$362,222
$936/ac · +30.0% target margin

You need $344,178 off asking to hit this margin.

All-in cost$393,011
Net resale$583,177
Projected profit$190,166
ROI+48.4%
Annualized+69.2%
Break-even resale$1,104/ac
Profit if resale lands off target
-20%
$73,530
-10%
$131,848
0%
$190,166
+10%
$248,483
+20%
$306,801
Comparable sales7 matches
ParcelAcresSoldPrice$/acAdj $/acDistMatch
MI-128760
Gravel · Power at road
342.1Jul 27, 2026$984,0002,8761,6073.0 mi
85
MI-229385
Gravel · Power at road
538.0Jul 27, 2026$1,404,4002,6101,6698.5 mi
82
MI-649135
Gravel · Off grid
448.9Mar 4, 2025$1,017,3002,2661,7099.1 mi
73
MI-908248
Dirt · Power at road
236.1Jun 10, 2025$671,2002,8431,7376.0 mi
69
MI-997401
Dirt · Power at road
127.8Feb 21, 2025$461,0003,6071,8879.7 mi
62
MI-707798
Dirt · Power at road
170.4Nov 9, 2024$460,7002,7041,5446.5 mi
61
MI-267217
Gravel · Off grid
111.9Jun 16, 2025$281,5002,5161,27111.6 mi
58
Show adjustment detail for the top comp
  • Tract size (342.1 ac → 386.94 ac)-3.6%
  • Access (Gravel → Landlocked)-32.0%
  • Utilities (Power at road → Off grid)-15.0%

Step 3 · Market it

Turn this underwriting into a listing

Generate a comp-priced headline, listing description, land-group post and cash-buyer email for this tract — then post it to the investor marketplace.