Real Estate Investing: How to Find Great Deals on Undeveloped Lots with Big Potential

Purchasing a plot of land can be one of the best investments to make. A landowner has great (but not unlimited) freedom in how to develop their plot, and land never expires so its potential is essentially infinite. That said, buying undeveloped or vacant land can be risky business, so read on to find tips on purchasing a plot.

Do Your Homework: Before You Get Onto The Land

Before anything else happens, figure out your priorities. Decide what you want the land for, what amenities and what location you want, what you’re looking for in terms of neighbors or local government, and, of course, know your budget. More specific questions will arise around taxes, fees,and permits for building, available utilities/water access but, first, just start with your ideal land plot and work backwards (and into reality) from there.

Do Your Due Diligence: On The Land Itself

Once you find a plot that fits your needs on paper, get out onto it. Walk the land with an eye on the topography (any unexpected hills or valleys? Is the ground solid/fertile/arable, depending on what you need?), neighboring properties, size and shape of the plot, and any other element that the walk brings to your senses (smell and hearing as well as sight). Ideally, do this walk in the fall, so there is no foliage hiding your view of the property and what’s around it.

Don’t Despair: It’s Costly, But There Are Deals Out There

Remember that developing the land will incur costs too. Budget for as many foreseeable costs as you can, including a land survey, well/utility installation, legal fees, land clearing, landscaping, road construction and others. That said there are places you can look at for deals on the initial land purchase, including property lots for sale (which are cheaper the farther they are from major cities, road access, and already-connected utilities) or bank-owned plots. For those, you can talk to your real estate agent about asking local banks for lists of their foreclosed properties, which tend to be cheaper as banks look to sell them off.

Don’t Be Afraid To Ask: Reaching Out To Experts

Finally, talk to people. Ask locals about the neighborhood, previous uses of the land, potential surprises (like calm paths that turn into snowmobile trails in the winter). Connect with professionals in the local health department, zoning and building departments, accountancy and other areas of development for in-depth answers to your municipal questions.

But remember: while you will need to talk with many professionals in your due diligence, let me be your first point of contact – J.P. Cook – 602-320-4253.

Click Here to See What Your Home is Worth

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

3007 E Arrow Point Payson, AZ 85541

$1,375,000

3 Beds

3 Baths

2,458 SqFt

Status Active

MLS # 6774758

Property Type Single Family Residence

Price Type --

Discover the perfect blend of luxury and nature in this exquisite rustic home located in The Rim Golf Club. Featuring striking exterior stonework, this property boasts AMAZING VIEWS of the breathtaking Granite Dells Mountains, providing a serene backdrop for everyday living. Step inside to find wood floors that flow throughout most of the main level, complemented by beamed ceilings that enhance the home's charm. The beautifully landscaped yard invites you to unwind in peace, while the gorgeous kitchen is a chef's dream, equipped with a 6-burner Wolf gas range, a Subzero refrigerator, granite countertops, and a butler's pantry complete with a beverage cooler. The master suite offers a private retreat with a separate door leading to the back deck, perfect for morning coffee or evening stargazing. The luxurious primary bathroom features a stand-alone tub and a spacious walk-in shower, providing a spa-like experience at home. This is not just a home; it's a lifestyle. Don't miss your chance to experience the tranquility and beauty this property has to offer!

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10042 S Greenfield Road Gilbert, AZ 85234

$1,375,000

6 Beds

4 Baths

5,210 SqFt

Status Active

MLS # 6775238

Property Type Single Family Residence

Price Type --

Here is your opportunity to OWN ACREAGE in the heart of Gilbert, AZ with NO HOA restrictions! This expansive property offers endless possibilities for creating your dream homestead. With 6 bedrooms, 4 bathrooms, and a 3-car garage, there's plenty of room for everyone. The huge kitchen features an oversized island with seating for 8, perfect for family gatherings or entertaining. The fully finished basement boasts 9-foot ceilings, 3 oversized bedrooms with large walk-in closets, a spacious game room, and a wet bar—an ideal space for fun and relaxation. The attached casita provides extra flexibility with its own private bathroom and a single-car garage, perfect for guests or extended family. (MORE) Outdoors, there's ample room to build a shop, detached accessory building, or guest house. A separated pasture with flood irrigation offers plenty of space for animals, making this property ideal for those looking to enjoy a bit of country living while still being close to all the conveniences of Gilbert.

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3920 E Covey Lane Phoenix, AZ 85050

$1,375,000

5 Beds

4.5 Baths

4,044 SqFt

Status Active

MLS # 6777915

Property Type Single Family Residence

Price Type --

Welcome to your poolside paradise in Fireside at Desert Ridge! This ''Chattanooga'' floor plan sits on a premium oversized cul-de-sac lot featuring a newly added pool/spa with relaxing water features, an ''endless'' swim lane, and cozy fireplace/fire bowls. With professionally designed interiors, this home has been thoughtfully upgraded with new tile, hardwood flooring, carpet, interior paint, and a refreshed kitchen boasting new quartz counters. Other improvements made include a tankless water heater, 240v electric vehicle charging, spa heater, laundry sink, landscaping/landscape lighting, fixtures, and exterior paint. Enjoy a carefree lifestyle at Fireside with resort amenities at the luxurious community center and the convenience of being minutes from Desert Ridge award-winning schools, dining, shopping, and convenient freeway access.

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3248 Rising Sun Ridge Wickenburg, AZ 85390

$1,375,000

3 Beds

3.5 Baths

2,771 SqFt

Status Active

MLS # 6778003

Property Type Single Family Residence

Price Type --

Discover elevated living in this beautifully upgraded Latigo home in Wickenburg Ranch. With 2,771 sqft of thoughtfully designed space, this residence offers a tranquil retreat. The open floor plan fills the living spaces with natural light. The gourmet kitchen features a gas range, wine cooler & ample counter space ideal for entertaining. The primary suite features a spa like bathroom with a freestanding bathtub, glass enclosed shower with multiple heads & his and hers closets. The detached casita offers its own full bathroom providing a perfect space for guests. Outside the patio features a pool & spa with mountain views. Experience resort-style living w/ golf dining & social amenities. Don't miss this exceptional desert retreat!

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6717 E Brilliant Sky Drive Scottsdale, AZ 85266

$1,375,000

3 Beds

3 Baths

2,030 SqFt

Status Active

MLS # 6750276

Property Type Single Family Residence

Price Type --

Public Remarks:Welcome to your beautiful desert dream home, freshly remodeled & radiating luxury at every turn! From the incredible Wolf & Sub-Zero Kitchen to the stunning & warm fireplace to the ultimate getaway Master Retreat! This completely reimagined designer home in North Scottsdale's prestigious guard gated Terravita community is the epitome of elegant, carefree living. Imagine starting each day in this exquisite, move-in-ready gem, perfectly tailored for downsizing, upgrading, or as is seasonal escape. Every corner of this desert retreat has been thoughtfully curated to blend sophisticated style with everyday comfort. Experience the beauty of Arizona living with magnificent sunsets & a lush private backyard oasis, all within a low-maintenance, resort-style setting.

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4539 N 65th Street Scottsdale, AZ 85251

$1,375,000

2 Beds

2 Baths

1,715 SqFt

Status Active

MLS # 6783635

Property Type Single Family Residence

Price Type --

HIGH END REMODEL in a centrally located gated community adjacent to the famed Phoenician Resort. This single level, NO INTERIOR STEPS home sits on the 4th fairway of the Phoenician Resort golf course. Exquisitely remodeled, this move in ready home features a gourmet kitchen with high end Wolf and SubZero appliances, Waterworks bathroom fixtures, White Oak hardwood floors throughout and large, bi-folding doors that open to the patio and golf course views. The home includes two master bedrooms in addition to a separate office or formal dining room. Walk or ride to nearby Fashion Square and the Scottsdale Waterfont for high end shopping and dining. Enjoy a short, 15 minute drive to Sky Harbor Airport. A perfect year-round or lock and leave home in an exclusive guard gated community. Don't miss your opportunity to own a part of the Phoenician lifestyle.

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2863 N Boldt Drive Flagstaff, AZ 86001

$1,375,000

5 Beds

3 Baths

2,993 SqFt

Status Active

MLS # 6780659

Property Type Single Family Residence

Price Type --

Welcome to a stunning custom home located in Linwood Heights. Situated on over an acre, this property provides both privacy and tranquility. Wake up each morning to breathtaking San Francisco Peak views from the primary suite, complete with a cozy fireplace, wet bar, and private sitting area—a true retreat within the home. The primary bath has a soaking tub and separate shower for ultimate relaxation. With an open, airy layout, and multiple deck access points, this home offers a blend of sophistication and comfort. The kitchen has granite countertops, stainless-steel appliances, and beautiful custom cabinetry. 3 car garage! As a Linwood Heights homeowner, you'll have exclusive access to the 180-acre Jesse Gregg Park and its amenities. Just minutes to AZ Snowbowl, and Downtown!

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2796 E Valencia Street Gilbert, AZ 85296

$1,375,000

6 Beds

4 Baths

4,774 SqFt

Status Active

MLS # 6748047

Property Type Single Family Residence

Price Type --

Remodeled BASEMENT BUNGALOW in AGRITOPIA, WITH POOL! These homes don't come along very often! Ranch single story Plan 3 with full basement. Private entry porch with side yard driveway parking. Main floor features handscaped Hickory eng. flooring leading from front living room to dining room and CUSTOM kitchen adjacent to GREAT ROOM w/ Gas Fireplace. Main floor primary bedroom with large bath and OFFICE/NURSERY hidden nicely within the suite. Split on its own hallway, 2 more large main floor bedrooms and full bath. Wood flooring leads down the stairs into a LARGE GAME ROOM/ Home Theater with kitchenette and full size fridge. 3 additional large bedrooms and 2 baths downstairs, and large storage room / gym give numerous arrangements. Outside, your comfortable entertaining oasis awaits... Large Pool with Spa, Firewall and Firepit, beneath a spacious backporch. Plenty of room opposite pool for backyard games. This home just a few blocks from the large park and dog park, and just a few steps to the Agritopia U-pick orchard and Coffee Shop / Restaurants. This is your chance to get in to the neighborhood COMING SOON - preview opportunities available before market.

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3116 N 47th Street Phoenix, AZ 85018

$1,375,000

4 Beds

3.5 Baths

3,008 SqFt

Status Active

MLS # 6703562

Property Type Single Family Residence

Price Type --

Tucked away on one of the largest lots, 10,800 sq ft, in El Coronado Estates lies this charming quintessential 3000+ Arcadia Ranch built by modern builders and remodeled by well-known local contractor Don Matteson. The Gourmet Kitchen has a commercial grade gas stove top, luxurious custom cabinets and oversized island which opens to cozy family room & dining room designed to look like her previous Calle Del Norte house. It is Perfect for entertaining & family gatherings. There are 4 spacious beds, 3.5baths, laundry room & storage one only dreams about. Imagine having coffee or a glass of wine on one of the many patios in the enchanting lushly landscaped grounds with arbors & English gardens. Top rated Arcadia Schools. This amazing neighborhood with cul de sac lots has a community pool!

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2974 E Camellia Drive Gilbert, AZ 85296

$1,375,000

9 Beds

5.5 Baths

5,979 SqFt

Status Active

MLS # 6700965

Property Type Single Family Residence

Price Type --

Price reduction is lower than recent appraisal - get instant equity! This one of a kind home features 7 bedrooms/5.5 baths/basement PLUS a 2 bedroom casita. Open floor plan boasts a spacious living area perfect for entertaining guests & enjoying family time. Entertain in style w multiple living areas, including a formal dining, wet bar, cozy living room w gas fireplace. Primary bath has steam shower, sep tub w jets & large w/in closet. Backyard boast synthetic grass for easy upkeep. The whole family can enjoy your private pool/spa and large covered patio. Basement has plenty of space to convert into a theatre. Agritopia is known for its tree-lined streets, community gardens, and friendly atmosphere. Residents enjoy nearby amenities such as parks, restaurants & shopping.Just off the 202 fw Welcome to this charming home in the highly sought after Agritopia! Charming community has many family oriented event happening monthly. This is a rare find with the 2 bedroom guest house. 9 bedrooms total plus an office with builtin bookshelves. Walking distance to Gilbert Christian School. Rent out the 2 bedroom casita for $1850 - $2300 a month to subsidize the mortgage payments. The casita is 860 st ft, with W/D, full kitchen and a back yard which is gated. New carpet & paint in the home and guest house. Back yard is designed for low maintenance care. Close to the Freeway for easy access to anywhere is the valley.

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7740 E Rose Lane Scottsdale, AZ 85250

$1,375,000

4 Beds

4 Baths

2,178 SqFt

Status Active

MLS # 6743935

Property Type Single Family Residence

Price Type --

Supreme location. Custom designed home. Fully remodeled. Elegant and elevated. A very rare find and the definition of luxury. No HOA. 4 bedrooms and 4 full baths. Brand new kitchen, Delta Terra quartz countertops, high end appliances, large custom hood. Soaring high ceilings. Smooth texture walls throughout. Large master bed and bath. Double laundry with one conveniently inside the master closet. New AC. Complete, resort style front and back yard. Smooth stucco exterior. Pristine large pool with tanning ledge, Baja shelf. A resort sanctuary of outdoor living. This is one unicorn of a home. Imagine yourself here!

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900 E Peach Tree Place Chandler, AZ 85249

$1,375,000

4 Beds

3.5 Baths

3,754 SqFt

Status Active

MLS # 6725095

Property Type Single Family Residence

Price Type --

Nestled in the small, exclusive gated community of Mission Estates, this exquisite home is the perfect setting for both indoor and outdoor living and entertaining. Entering thru the private courtyard into the home, you are greeted with an impressive wall to wall slider providing a view of the newly renovated backyard, exhibiting an abundance of natural lighting. The lofty 12 foot ceilings amplify the sense of space and luxury showcasing the natural wood flooring and custom designed wainscoting all adding to the feel of luxury living. The heavily upgraded chef's kitchen includes a large island, custom cutout for ample stainless steel fridge and freezer, double ovens, farmhouse sink, sizable walk in pantry and spacious butler's kitchen. The primary suite features an elegant chandelier, separate his and her closets customized by California Closets for floor-to-ceiling organization and an oversized luxe bathroom with a private expansive shower. This home has 4 bedrooms, including a built in Murphy's bed and storage in guest room and an intimate gym with newly padded flooring. Additional game room has plenty of flexibility to customize the space to suit your needs, whether it be a cozy media room, craft room, playroom for the kids or a private retreat for guests. Substantial 3 car garage encompasses additional overhead storage. The private outdoor retreat embraces an impressive backyard with a built in BBQ, fire pit, half court sports area, expansive turf play area & multiple seating spaces creating an ideal environment for both everyday living and entertaining guests. This premium north/south facing home on a large (nearly 1/3 acre) lot allows for both privacy and tranquility offering the perfect backyard brimming with family appeal and balance of location & Arizona lifestyle.

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