Lea County, NM · Sold

NM-479536

5182 County Road 194

$443,500

$306/ac · 1,450 ac

Offer report Market this tract

Acreage1,450 ac

Price per acre$306/ac

ZoningRecreational

Road accessGravel

UtilitiesOff grid

TopographyMixed

ListedOct 17, 2025

Coordinates32.6913, -103.5267

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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

Lea County, New Mexico. Cheapest large-tract market in the country; access and water are the whole story.

View Lea market data →

Step 1 · Is this a deal?

Due diligence

1 item to verify before you offer.

Risk index

Low risk

Wetlands8.1% of tract

Little to no mapped wetland coverage.

Average slope2.4%

Gentle grade, straightforward to develop.

Flood zoneX

Outside the mapped floodplain.

Legal accessDeeded frontage

2,846 ft of deeded road frontage.

Power8,622 ft away

A long utility run — price in solar/off-grid instead.

Buildable area1266.35 of 1450.49 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate

$640,035

$483,375 – $796,696 · $441/ac on 1,450 ac

Asking vs estimate

-30.7%

Priced below 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 $443,500

Acres

Resale ($/ac)

Target margin (%)

Hold (months)

Closing (%)

Carry (%/yr)

Selling costs (%)

Your offer

Maximum allowable offer

$365,734

$252/ac · +30.0% target margin

You need $77,766 off asking to hit this margin.

All-in cost$396,821

Net resale$588,833

Projected profit$192,011

ROI+48.4%

Annualized+69.3%

Break-even resale$297/ac

Profit if resale lands off target

-20%

$74,245

-10%

$133,128

$192,011

+10%

$250,894

+20%

$309,778

Comparable sales7 matches

Parcel	Acres	Sold	Price	$/ac	Adj $/ac	Dist	Match
NM-619634 Dirt · Power at road	1557.2	Jul 27, 2026	$634,400	407	413	19.2 mi	77
NM-199981 Gravel · Power at road	2002.3	Aug 28, 2025	$606,400	303	296	11.1 mi	77
NM-369641 Paved · Off grid	1565.1	Mar 18, 2025	$1,073,700	686	631	17.1 mi	70
NM-268587 Dirt · Full utilities	729.4	Jul 16, 2026	$579,200	794	521	12.0 mi	70
NM-969323 Gravel · Power at road	1243.1	Mar 2, 2024	$488,800	393	351	10.4 mi	69
NM-587943 Dirt · Full utilities	457.4	Oct 30, 2025	$302,800	662	388	23.0 mi	59
NM-778211 Paved · Off grid	555.5	Jan 13, 2025	$417,800	752	505	14.3 mi	58

Show adjustment detail for the top comp

Tract size (1557.21 ac → 1450.49 ac)+2.3%
Access (Dirt → Gravel)+16.3%
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.

Build the listing kit Post a deal or JV