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San Miguel County, NM · Sold

NM-139193

1853 County Road 54

$481,900
$426/ac · 1,131 ac
Acreage1,131 ac
Price per acre$426/ac
ZoningMixed Use
Road accessDirt
UtilitiesOff grid
TopographyMixed
ListedFeb 27, 2024
Coordinates35.4415, -104.9245
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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

San Miguel County, New Mexico. Cheapest large-tract market in the country; access and water are the whole story.

View San Miguel market data →

Step 1 · Is this a deal?

Due diligence

2 items to verify before you offer.

Risk index
21
Low risk
Wetlands6.5% of tract

Little to no mapped wetland coverage.

Average slope2.5%

Gentle grade, straightforward to develop.

Flood zoneX

Outside the mapped floodplain.

Legal accessRecorded easement

Access by easement; pull and read the recorded document.

Power13,396 ft away

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

Buildable area1004.94 of 1131.37 ac

Net of wetlands and slope constraints.

Step 2 · Where do the numbers land?

Adjusted value estimate
$421,974
$339,468$504,480 · $373/ac on 1,131 ac
Asking vs estimate
+14.2%
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 $481,900
Maximum allowable offer
$241,128
$213/ac · +30.0% target margin

You need $240,772 off asking to hit this margin.

All-in cost$261,624
Net resale$388,216
Projected profit$126,592
ROI+48.4%
Annualized+69.2%
Break-even resale$251/ac
Profit if resale lands off target
-20%
$48,949
-10%
$87,771
0%
$126,592
+10%
$165,414
+20%
$204,235
Comparable sales5 matches
ParcelAcresSoldPrice$/acAdj $/acDistMatch
NM-646129
Dirt · Off grid
122.9Jul 27, 2026$84,5006873608.7 mi
65
NM-707104
Gravel · Off grid
249.1Apr 3, 2026$146,4005883256.3 mi
65
NM-297269
Gravel · Power at road
280.7Feb 21, 2026$174,8006233055.5 mi
63
NM-186736
Gravel · Off grid
190.8Apr 6, 2024$134,6007063926.6 mi
53
NM-187153
Gravel · Power at road
258.1Dec 23, 2023$259,6001,00652314.6 mi
48
Show adjustment detail for the top comp
  • Tract size (122.92 ac → 1131.37 ac)-47.7%

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.