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Luce County, MI · Sold

MI-479175

7251 County Road 151

$872,200
$1,888/ac · 462 ac
Acreage462 ac
Price per acre$1,888/ac
ZoningAgricultural
Road accessLandlocked
UtilitiesFull utilities
TopographyMixed
ListedDec 23, 2023
Coordinates46.4333, -85.4097
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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

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

View Luce market data →

Step 1 · Is this a deal?

Due diligence

1 item to verify before you offer.

Risk index
27
Low risk
Wetlands2.3% of tract

Little to no mapped wetland coverage.

Average slope5.2%

Gentle grade, straightforward to develop.

Flood zoneX

Outside the mapped floodplain.

Legal accessLandlocked

No legal access of record — resale is severely limited.

PowerOn site

Power at or near the road.

Buildable area428.89 of 462.09 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate
$726,658
$523,194$930,122 · $1,573/ac on 462 ac
Asking vs estimate
+20.0%
Priced above the comp set

Weighted from 5 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 $872,200
Maximum allowable offer
$415,233
$899/ac · +30.0% target margin

You need $456,967 off asking to hit this margin.

All-in cost$450,528
Net resale$668,525
Projected profit$217,998
ROI+48.4%
Annualized+69.2%
Break-even resale$1,060/ac
Profit if resale lands off target
-20%
$84,293
-10%
$151,145
0%
$217,998
+10%
$284,850
+20%
$351,703
Comparable sales5 matches
ParcelAcresSoldPrice$/acAdj $/acDistMatch
MI-679236
Landlocked · Off grid
483.0Mar 11, 2026$345,2007151,0582.1 mi
86
MI-787849
Landlocked · Full utilities
176.8Feb 5, 2026$422,0002,3871,8489.8 mi
69
MI-536345
Gravel · Full utilities
59.5Jul 27, 2026$160,1002,6911,0634.5 mi
66
MI-558261
Paved · Full utilities
238.3Sep 6, 2024$1,000,5004,1982,1558.6 mi
63
MI-307976
Dirt · Full utilities
193.9Dec 3, 2023$556,2002,8691,96310.0 mi
58
Show adjustment detail for the top comp
  • Tract size (482.96 ac → 462.09 ac)+1.3%
  • Utilities (Off grid → Full utilities)+43.5%
  • Market time (5 mo)+1.8%

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.