Madison County, IN · Sold

IN-478547

511 County Road 278

$629,700

$2,577/ac · 244 ac

Offer report Market this tract

Acreage244 ac

Price per acre$2,577/ac

ZoningRecreational

Road accessLandlocked

UtilitiesPower at road

TopographyMixed

ListedMar 3, 2025

Coordinates40.2085, -85.7078

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County GIS boundary

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County market

Madison County, Indiana. Tillable ground plus small recreational tracts near the Hoosier National Forest.

View Madison market data →

Step 1 · Is this a deal?

Due diligence

4 items to verify before you offer.

Risk index

Moderate risk

Wetlands12.6% of tract

Partial wetlands. Verify the delineated build envelope.

Average slope3.0%

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.

Power6 ft away

Power at or near the road.

Buildable area202.86 of 244.32 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate

$905,814

$678,816 – $1,132,812 · $3,707/ac on 244 ac

Asking vs estimate

-30.5%

Priced below the comp set

Weighted from 10 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 $629,700

Acres

Resale ($/ac)

Target margin (%)

Hold (months)

Closing (%)

Carry (%/yr)

Selling costs (%)

Your offer

Maximum allowable offer

$517,608

$2,119/ac · +30.0% target margin

You need $112,092 off asking to hit this margin.

All-in cost$561,605

Net resale$833,349

Projected profit$271,744

ROI+48.4%

Annualized+69.2%

Break-even resale$2,499/ac

Profit if resale lands off target

-20%

$105,074

-10%

$188,409

$271,744

+10%

$355,079

+20%

$438,414

Comparable sales10 matches

Parcel	Acres	Sold	Price	$/ac	Adj $/ac	Dist	Match
IN-298906 Dirt · Off grid	316.9	Jul 27, 2026	$769,000	2,427	2,439	3.0 mi	87
IN-938737 Paved · Power at road	280.4	Dec 9, 2025	$2,209,900	7,882	4,861	2.1 mi	82
IN-619120 Paved · Power at road	370.0	Jan 26, 2025	$2,489,100	6,727	4,659	1.2 mi	73
IN-538641 Dirt · Off grid	261.5	Oct 29, 2023	$633,900	2,424	2,569	5.0 mi	71
IN-628752 Gravel · Off grid	283.4	Nov 22, 2024	$1,344,000	4,742	4,247	7.1 mi	71
IN-496841 Landlocked · Power at road	71.0	Feb 14, 2026	$298,300	4,201	3,116	4.6 mi	70
IN-437636 Paved · Off grid	126.3	Jul 14, 2025	$761,900	6,033	3,572	6.0 mi	67
IN-907357 Dirt · Off grid	103.2	Jan 20, 2026	$498,700	4,833	3,653	7.7 mi	66
IN-547431 Dirt · Off grid	108.9	Mar 23, 2025	$407,900	3,747	2,968	1.6 mi	66
IN-877374 Landlocked · Off grid	104.5	Aug 15, 2024	$527,100	5,046	5,123	3.7 mi	64

Show adjustment detail for the top comp

Tract size (316.89 ac → 244.32 ac)+7.8%
Access (Dirt → Landlocked)-20.9%
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