Pricing Land in Chatham County North Carolina

Accredited Land Consultant (ALC) and Land Broker Eric Andrews discusses some variables which determine the value of 4 acres of land in North Carolina. Some of those factors include:

  • Public paved road frontage
  • Sewer vs septic, type of septic
  • Commercial vs residential
  • Wooded vs Cleared vs Pasture
  • Easements

Speaker 1:           How much is four acres of land worth?

Speaker 2:           Well, let’s go over all the different possibilities. Let’s go over the big factors. So in Chatham County right now, you really could have four acres be worth $10,000 or $1 million, or even more. So four acres with public paved road frontage, compared to four acres on a private road: private road, $40,000; public road, $100,000. So, that much of a difference.

Four acres with sewer versus four acres with septic: four acres with sewer, probably $100,000. No, excuse me. Four acres with septic, $100,000. Four acres with sewer right now would be about $300,000. So that much of a difference.

You could use it perhaps as industrial, commercial, or you could probably cut it up into 32 town home lots. So $300,000 or $100,000.

Then let’s just say we’re on septic. Well, is it conventional septic? Okay. Then we’re still at $100,000. What if it’s a spray system? Now we’re going to be down to $50,000. So the same four acres all over the place here.

Now we have a three-way differentiation: wooded versus cleared versus pasture. So again, the wooded we’ll say is $100,000. The clear cut, probably be worth half of that, $50,000, just because it’s so ugly and it’d be so difficult to, or it’ll take such a long time for it to grow back or cost a lot of money to fix it up. But if it was four acres of pasture right now, it’d probably be double. I could probably get you $200,000 for four acres of pasture. So that’s a big difference.

And then the one that we get all the time, which makes my phone ring off the hook, the most popular YouTube video, land with deed access versus land without. We talk about a handshake easement or a prescriptive easement. It’s got a road going to the property, but there’s nothing officially recorded. If it was four acres with deeded access, it’s probably worth $40,000 on a private road. And without it, it might be worth $10,000, but I wouldn’t give you $10,000 for it. It’s just, we say it’s holding the world together.