Madison County, IN · Sold

IN-938737

5691 County Road 173

$2,321,300

$8,279/ac · 280 ac

Offer report Market this tract

Acreage280 ac

Price per acre$8,279/ac

ZoningMixed Use

Road accessPaved

UtilitiesPower at road

TopographyMixed

ListedMar 22, 2025

Coordinates40.2347, -85.6870

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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

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

1 item to verify before you offer.

Risk index

Low risk

Wetlands4.4% of tract

Little to no mapped wetland coverage.

Average slope3.0%

Gentle grade, straightforward to develop.

Flood zoneX

Outside the mapped floodplain.

Legal accessRecorded easement

Access by easement; pull and read the recorded document.

Power167 ft away

Power at or near the road.

Buildable area254.64 of 280.38 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate

$1,694,906

$1,220,332 – $2,169,480 · $6,045/ac on 280 ac

Asking vs estimate

+37.0%

Priced above 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 $2,321,300

Acres

Resale ($/ac)

Target margin (%)

Hold (months)

Closing (%)

Carry (%/yr)

Selling costs (%)

Your offer

Maximum allowable offer

$968,518

$3,454/ac · +30.0% target margin

You need $1,352,782 off asking to hit this margin.

All-in cost$1,050,842

Net resale$1,559,314

Projected profit$508,471

ROI+48.4%

Annualized+69.2%

Break-even resale$4,074/ac

Profit if resale lands off target

-20%

$196,609

-10%

$352,540

$508,471

+10%

$664,403

+20%

$820,334

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	4,068	4.9 mi	84
IN-478547 Landlocked · Power at road	244.3	Dec 29, 2025	$533,400	2,183	3,738	2.1 mi	83
IN-619120 Paved · Power at road	370.0	Jan 26, 2025	$2,489,100	6,727	7,771	3.1 mi	77
IN-628752 Gravel · Off grid	283.4	Nov 22, 2024	$1,344,000	4,742	7,084	9.2 mi	72
IN-538641 Dirt · Off grid	261.5	Oct 29, 2023	$633,900	2,424	4,286	7.0 mi	70
IN-907357 Dirt · Off grid	103.2	Jan 20, 2026	$498,700	4,833	6,093	9.4 mi	68
IN-629859 Gravel · Off grid	632.0	Dec 1, 2024	$2,929,500	4,635	8,787	3.5 mi	68
IN-437636 Paved · Off grid	126.3	Jul 14, 2025	$761,900	6,033	5,959	8.1 mi	67
IN-547431 Dirt · Off grid	108.9	Mar 23, 2025	$407,900	3,747	4,951	1.1 mi	65
IN-877374 Landlocked · Off grid	104.5	Aug 15, 2024	$527,100	5,046	8,545	4.8 mi	64

Show adjustment detail for the top comp

Tract size (316.89 ac → 280.38 ac)+3.6%
Access (Dirt → Paved)+37.2%
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