Cheboygan County, MI · Sold

MI-128760

8188 County Road 348

$1,013,400

$2,962/ac · 342 ac

Offer report Market this tract

Acreage342 ac

Price per acre$2,962/ac

ZoningAgricultural

Road accessGravel

UtilitiesPower at road

TopographyFlat

ListedApr 12, 2026

Coordinates45.5498, -84.4572

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

3 items to verify before you offer.

Risk index

Moderate risk

Wetlands34.1% of tract

Heavy wetland coverage — assume a delineation and permitting delay.

Average slope3.7%

Gentle grade, straightforward to develop.

Flood zoneAE

Inside the 100-year floodplain — insurance and elevation apply.

Legal accessDeeded frontage

1,532 ft of deeded road frontage.

Power156 ft away

Power at or near the road.

Buildable area214.17 of 342.10 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate

$1,037,836

$917,000 – $1,158,671 · $3,034/ac on 342 ac

Asking vs estimate

-2.4%

In line with 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 $1,013,400

Acres

Resale ($/ac)

Target margin (%)

Hold (months)

Closing (%)

Carry (%/yr)

Selling costs (%)

Your offer

Maximum allowable offer

$593,049

$1,734/ac · +30.0% target margin

You need $420,351 off asking to hit this margin.

All-in cost$643,458

Net resale$954,809

Projected profit$311,351

ROI+48.4%

Annualized+69.2%

Break-even resale$2,044/ac

Profit if resale lands off target

-20%

$120,389

-10%

$215,870

$311,351

+10%

$406,831

+20%

$502,312

Comparable sales7 matches

Parcel	Acres	Sold	Price	$/ac	Adj $/ac	Dist	Match
MI-158930 Landlocked · Off grid	386.9	Jul 27, 2026	$743,800	1,922	3,457	3.0 mi	85
MI-229385 Gravel · Power at road	538.0	Jul 27, 2026	$1,404,400	2,610	2,995	8.9 mi	80
MI-908248 Dirt · Power at road	236.1	Jun 10, 2025	$671,200	2,843	3,117	4.2 mi	78
MI-649135 Gravel · Off grid	448.9	Mar 4, 2025	$1,017,300	2,266	3,066	8.5 mi	72
MI-707798 Dirt · Power at road	170.4	Nov 9, 2024	$460,700	2,704	2,770	3.6 mi	67
MI-997401 Dirt · Power at road	127.8	Feb 21, 2025	$461,000	3,607	3,385	6.7 mi	63
MI-267217 Gravel · Off grid	111.9	Jun 16, 2025	$281,500	2,516	2,281	9.7 mi	61

Show adjustment detail for the top comp

Tract size (386.94 ac → 342.1 ac)+3.7%
Access (Landlocked → Gravel)+47.1%
Utilities (Off grid → Power at road)+17.6%

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.

Build the listing kit Post a deal or JV