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

41644 N 277th Avenue Morristown, AZ 85342

$645,000

3 Beds

2 Baths

2,700 SqFt

Status Active

MLS # 6780700

Property Type Single Family Residence

Price Type --

Newly remodeled 3-bed, 2-bath home on 3.4 picturesque acres with 360 mountain and Hassayampa River views! This 2,700+/- sq ft residence features a new kitchen with quartz countertops, new modern bathrooms, new flooring, appliances, fresh paint, and a new roof. The guest bath offers a soaking tub by the fireplace, while the primary suite exudes charm with wainscoting on the walls and a custom walk in shower. Ideal for horse enthusiasts, the land includes an existing corral and a huge level area for a future arena. The land is surveyed for a 5-parcel split. There is a storage shed with bathroom and a covered carport. Located 25 minutes from Loop 303 & Surprise, and 15 minutes from Wickenburg. Country living at its best with easy quick access to the city. Can sell with more areage.

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7813 E Cypress Street Scottsdale, AZ 85257

New

$645,000

3 Beds

2 Baths

1,548 SqFt

Status Active

MLS # 6788901

Property Type Single Family Residence

Price Type --

You don't want to miss out on this gem of a home in the heart of South Scottsdale. It has charm from ceiling to floor. The first thing you'll appreciate is the great curb appeal and attractive landscaping. Step inside to a large living room and kitchen areas with wood-like tile flooring. You will spend a lot of time in the fantastic backyard offering covered patio and sparkling swimming pool. Fantastic location on a cul de sac and minutes from downtown Scottsdale, the 101, 202, Tempe Marketplace, Sky Harbor airport, great schools, and more. This one won't last long so hurry and come take a look.

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8350 W Mary Ann Drive Peoria, AZ 85382

$645,000

5 Beds

3 Baths

2,634 SqFt

Status Active

MLS # 6773644

Property Type Single Family Residence

Price Type --

Gorgeous Fletcher Heights Fulton home* brand new roof 2024* brand new solar panels 2024- seller paid $35k for solar panels* sparkling pebble tech play pool* cozy mid west style front porch* 5 bedrooms and 3 bathrooms* 2634 sq ft* 2 car garage* beautiful remodeled white kitchen cabinets w? brushed nickel hardware* all stainless steel kitchen appliances* newer stainless steel Bosch dishwasher and refrigerator* freshly painted exterior pop outs* remodeled white linen and laundry cabinets* freshly painted white custom baseboards* new lighting fixtures and brushed nickel door handles* remodeled owners suite master bathroom w/ beautiful custom walk in shower* gas heat* gas fireplace in family room* full length cozy back patio* custom pavers in backyard, front yard and side yard* beautiful synthetic green grass front and back* open views on the full length walk out balcony right outside the master bedroom* just resurfaced pool deck* gas water heater* added insulation in attic* raised block backyard wall a couple of feet for added privacy* nice backyard golf putting green* spectacular backyard for entertaining & enjoyment* highly desirable Fletcher Heights community* top rated Peoria schools* close to A+ Rated Sunrise Mountain High School* close to shopping* restaurants* schools* golf* Arrowhead Mall* the 101 and much more* fantastic home!

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18518 W Acacia Drive Goodyear, AZ 85338

$645,000

3 Beds

3 Baths

2,430 SqFt

Status Active

MLS # 6784388

Property Type Single Family Residence

Price Type --

Enjoy ultimate energy efficiency with a FULLY PAID SOLAR SYSTEM! This stunning 3-bedroom, 3-bathroom with a den, offers an open-concept space perfect for modern living. Located in the tranquil 'Inspire' neighborhood of Estrella Mountain Ranch, the home features a spacious interior that seamlessly flows from room to room. The backyard offers a quiet, private retreat perfect for relaxing under the pergola or entertaining. Enjoy a beautiful, low-maintenance landscaped yard with plenty of space; this home combines indoor and outdoor living.

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10013 E Trent Avenue Mesa, AZ 85212

$645,000

5 Beds

3 Baths

2,550 SqFt

Status Active

MLS # 6784732

Property Type Single Family Residence

Price Type --

This stunning home offers all the modern upgrades of a nearly new build, designed with an inviting open floor plan that blends style and functionality. The bright and airy kitchen is a true centerpiece, featuring sleek marble countertops, state-of-the-art stainless steel appliances, and plenty of space for culinary creativity. With five spacious bedrooms, a versatile loft, an additional game/living room, and sliding glass doors that fill the space with natural light, there's room for everyone to relax and enjoy. The low-maintenance backyard is perfect for entertaining, complete with a gazebo that creates the ideal spot for grilling, dining, and unwinding outdoors. This resort-style community truly has it all! Enjoy amenities like a sparkling community pool, tennis and basketball courts, a scenic bike path, a playground, a community center, a fully equipped gym, and a dog park. Conveniently located near major freeways, shopping, the Legacy Sports Complex, and Mesa Airport, this is the perfect place to call home. Don't miss the chance to make this dream home yours!

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1276 N Vulture Mine Road Wickenburg, AZ 85390

$645,000

3 Beds

2 Baths

1,672 SqFt

Status Active

MLS # 6786201

Property Type Single Family Residence

Price Type --

Million Dollar View! Sit on your back patio or in the spa enjoying the big views of Vulture Peak and starry skies. NO HOA!! Within minutes to championship golf!! Beautiful home with open concept living space. Kitchen remodled with Kropf custom cabinets; Brazilian Quartzsite countertops; under cabinet lighting; stainless appliances, including top-of-the-line Bosch dishwasher; and an island with breakfast bar. Roomy dining area and living room with wood beams, Santa Fe fireplace, and a wall with built in shelving. There is also an ensuite bath with shower featuring floor to ceiling tile. Seller installed new windows in 2022. Well pump was also replaced in 2022.

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3774 E Shannon Street Gilbert, AZ 85295

$645,000

4 Beds

2 Baths

2,011 SqFt

Status Active Under Contract

MLS # 6767226

Property Type Single Family Residence

Price Type --

3774 E SHANNON ST, Gilbert, AZ 85295 - beautiful interior corner lot with extensive upgrades over past 5 years, new quartz countertops, new windows, wall to wall laminate flooring, gas range, RO system, Trane AC unit, garage split AC unit for exercise room/man cave, amazing oversized master tiled shower, new ceiling fans, window coverings and lighting throughout, surround sound, Owned solar - save $ on electric bill, new waterfall feature at heated pebble tec play pool and new pavers front and back. You can not replicate this home for the purchase price!

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1924 E Rockwood Drive Phoenix, AZ 85024

$645,000

4 Beds

3 Baths

2,528 SqFt

Status Active Under Contract

MLS # 6777756

Property Type Single Family Residence

Price Type --

Beautiful, fully remodeled home on a corner lot with an RV gate and no HOA. The interior features an open floor plan with lots of natural light, a white kitchen with quartz counters and stainless appliances. Primary suite has a cozy fireplace, walk-out deck, an extra sitting room that is currently set up with a desk, gorgeous bathroom with quartz counters, dual vanity, stand-alone bathtub and a large frameless shower. The low maintenance backyard has a heated pool, spa and artificial turf. Great family neighborhood conveniently located with easy access to freeways, excellent schools and premier shopping and dining. *New roof in 2023*

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12170 W Eagle Ridge Lane Peoria, AZ 85383

$645,000

4 Beds

2.5 Baths

2,908 SqFt

Status Active Under Contract

MLS # 6777974

Property Type Single Family Residence

Price Type --

This beautifully appointed single story with a split floorplan is waiting for your creative ingenuity and unique vision! Some of the upgrades include crown molding, plantation shutters, higher end appliances and knotty alder cabinetry. Perfect multi-generational living! Bring your eclectic style to this wonderful home situated in Vistancia, a master planned community that includes tennis courts, hiking trails, and a swimming pool. Enjoy nearby attractions - just a15 minute drive from Lake Pleasant Regional Park and only 20 minutes from the Peoria Sports Complex, the spring training home of the Seattle Mariners and San Diego Padres.

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231 W Denton Lane Phoenix, AZ 85013

$645,000

2 Beds

2 Baths

1,964 SqFt

Status Active Under Contract

MLS # 6781050

Property Type Single Family Residence

Price Type --

STOP THE SEARCH THIS IS THE ONE!! THIS FULLY DETACHED PATIO HOME IS LOCATED ONLY STEPS FROM ALL THAT NORTH CENTRAL PHOENIX HAS TO OFFER. THIS HOME FEATURES 2 BEDROOMS, 2 BATHROOMS AND A HUGE OFFICE SPACE THAT COULD EASILY BE CONVERTED INTO A 3RD BEDROOM. THE NEWLY RENOVATED KITCHEN IS A CHEFS DREAM WITH A HUGE CENTER ISLAND AND MODERN FINISHES. THE MAIN LIVING SPACE HAS TOWERING CEILINGS AND TONS OF NATURAL LIGHT FROM AN ATRIUM VISIBLE FROM NEARLY EVERY ROOM. STEP OUT TO THE LOW MAINTENANCE AND PRIVATE BACKYARD WITH MATURE FICUS TREES. NEW A/C IN 2023 AND A NEW ROOF IN 2024. THIS PROPERTY WOULD BE PERFECT AS A FULL-TIME RESIDENCE OR A LOCK AND LEAVE FOR SEASONAL RESIDENTS. HOA FEE IS ONLY $100 PER MONTH. BETTER HURRY, THIS ONE WILL BE GONE QUICK! WELCOME HOME!!

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2018 E Aspen Drive Tempe, AZ 85282

$645,000

3 Beds

2 Baths

1,886 SqFt

Status Active Under Contract

MLS # 6775579

Property Type Single Family Residence

Price Type --

You'll always feel on vacation upon entering the private gate of this Tempe home. The desert botanical-like courtyard hugs the Spanish style home that is brimming with natural sunlight through vaulted ceilings and intentionally placed windows. The home features a custom, unique flare of a dine-in booth in addition to the adjacent dining room dripping with ambience, a spacious master suite, a guest bedroom ready for hosting and an office with a special surprise (Peloton room? Wine cellar?). Grocery stores of the finest: Trader Joe's, Whole Foods and Sprouts to name a few. With hot restaurants, Tempe Town Lake and the Cubs stadium, Arizona State University and Shalimar Golf Course all within a couple of miles, this perfectly placed abode is also accessible to the 101, 202 & 60 interchanges.

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18936 E Amethyst Drive Rio Verde, AZ 85263

$645,000

2 Beds

2 Baths

2,015 SqFt

Status Active

MLS # 6745521

Property Type Townhouse

Price Type --

Corner unit townhome in a quiet setting. 2 Bedrooms, 2 Baths. Den/Office- currently set up as an art studio with barn doors. Primary Suite has dual vanities, walk in shower, linen storage, large closet. Guest room currently set up as an office w/ walk in closet and hardwood floor. Guest bath with single vanity and new Kohler therapeutic walk- in tub/jacuzzi/shower. Great room adjacent to kitchen with patio access. Gourmet kitchen with desirable 6 burner Gas Range with dual ovens, warming drawer, microwave, Bosch fridge, appliance garage, granite counters. Casual dining area. Laundry room w/ sink & built in desk. Covered patio with extension for plenty of outdoor seating & entertaining. Lush landscaping. 2 car plus golf cart garage. Whole house water filtration system. Come , see, buy

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