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Morris County, NJ · Sold

NJ-342511

4000 County Road 387

$57,300
$46,585/ac · 1.23 ac
Acreage1.23 ac
Price per acre$46,585/ac
ZoningRecreational
Road accessPaved
UtilitiesFull utilities
TopographyWooded
ListedApr 1, 2024
Coordinates40.9249, -74.5520
Loading terrain…
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

Morris County, New Jersey. Pinelands restrictions keep supply extremely tight.

View Morris market data →

Step 1 · Is this a deal?

Due diligence

No material red flags on the mapped layers.

Risk index
4
Low risk
Wetlands0.7% of tract

Little to no mapped wetland coverage.

Average slope7.9%

Gentle grade, straightforward to develop.

Flood zoneX

Outside the mapped floodplain.

Legal accessDeeded frontage

181 ft of deeded road frontage.

PowerOn site

Power at or near the road.

Buildable area1.16 of 1.23 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate
$51,056
$41,373$60,738 · $41,509/ac on 1.23 ac
Asking vs estimate
+12.2%
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 $57,300
Maximum allowable offer
$29,175
$23,719/ac · +30.0% target margin

You need $28,125 off asking to hit this margin.

All-in cost$31,655
Net resale$46,971
Projected profit$15,316
ROI+48.4%
Annualized+69.2%
Break-even resale$27,974/ac
Profit if resale lands off target
-20%
$5,922
-10%
$10,619
0%
$15,316
+10%
$20,013
+20%
$24,710
Comparable sales5 matches
ParcelAcresSoldPrice$/acAdj $/acDistMatch
NJ-802519
Gravel · Power at road
1.2Dec 24, 2025$25,00020,13229,7669.7 mi
78
NJ-241593
Dirt · Off grid
0.6Feb 28, 2026$16,20025,78551,4442.5 mi
77
NJ-383533
Gravel · Power at road
2.6Jul 3, 2025$63,00024,30537,1371.7 mi
68
NJ-831458
Paved · Full utilities
0.6Jan 9, 2025$25,80044,46947,1365.1 mi
68
NJ-491690
Dirt · Off grid
0.7Nov 28, 2024$13,80020,24742,5029.6 mi
62
Show adjustment detail for the top comp
  • Access (Gravel → Paved)+18.0%
  • Utilities (Power at road → Full utilities)+22.0%
  • Market time (8 mo)+2.7%

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.