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Marquette County, MI · Sold

MI-198627

5498 County Road 238

$392,000
$1,262/ac · 311 ac
Acreage311 ac
Price per acre$1,262/ac
ZoningResidential
Road accessDirt
UtilitiesOff grid
TopographyMixed
ListedFeb 18, 2025
Coordinates46.7427, -87.7105
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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

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

View Marquette market data →

Step 1 · Is this a deal?

Due diligence

4 items to verify before you offer.

Risk index
23
Low risk
Wetlands13.2% of tract

Partial wetlands. Verify the delineated build envelope.

Average slope5.6%

Gentle grade, straightforward to develop.

Flood zoneShaded X

Moderate flood hazard on part of the tract.

Legal accessDeeded frontage

2,589 ft of deeded road frontage.

Power10,988 ft away

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

Buildable area256.19 of 310.68 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate
$438,418
$372,153$504,684 · $1,411/ac on 311 ac
Asking vs estimate
-10.6%
Priced below the comp set

Weighted from 8 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 $392,000
Maximum allowable offer
$250,525
$806/ac · +30.0% target margin

You need $141,475 off asking to hit this margin.

All-in cost$271,820
Net resale$403,345
Projected profit$131,525
ROI+48.4%
Annualized+69.2%
Break-even resale$951/ac
Profit if resale lands off target
-20%
$50,856
-10%
$91,191
0%
$131,525
+10%
$171,860
+20%
$212,194
Comparable sales8 matches
ParcelAcresSoldPrice$/acAdj $/acDistMatch
MI-998505
Dirt · Power at road
284.4May 6, 2026$490,7001,7261,4461.1 mi
88
MI-179257
Dirt · Power at road
490.4May 19, 2026$548,7001,1191,10010.8 mi
75
MI-416994
Dirt · Off grid
95.2Jul 27, 2026$167,4001,7591,28016.3 mi
68
MI-587417
Gravel · Power at road
129.3Sep 8, 2025$355,6002,7501,6382.1 mi
67
MI-449730
Dirt · Power at road
690.8Dec 4, 2024$822,8001,1911,3798.2 mi
63
MI-907370
Gravel · Full utilities
125.0Sep 26, 2024$354,3002,8351,4254.1 mi
61
MI-979652
Landlocked · Power at road
652.8Oct 28, 2024$564,9008651,2508.4 mi
60
MI-579632
Landlocked · Off grid
643.4Mar 25, 2024$686,8001,0671,84815.4 mi
57
Show adjustment detail for the top comp
  • Tract size (284.4 ac → 310.68 ac)-2.5%
  • Utilities (Power at road → Off grid)-15.0%
  • Market time (3 mo)+1.2%

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.