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

17033 E Bobwhite Way Rio Verde, AZ 85263

$574,900

4 Beds

3 Baths

2,446 SqFt

Status Active

MLS # 6774586

Property Type Single Family Residence

Price Type --

Now complete, move-in ready, Just off 172nd (paved road). Minutes from trails, w/great hiking and Biking. Enjoy horseback riding with easy access to trails. The beautifully designed Durango Plan offers 10 ft high ceilings and polyurethane spray foam insulation for exterior house walls and attic. Open floor plan, great for entertaining. The kitchen features SS Appliances, White shaker-style cabinets with Soft Close Drawers and Doors, a nice-sized pantry, and a large Island for extra seating. Electric built-in cooktop with separate oven. Jack-N-Jill bedrooms with full bathroom. Tile-plank flooring throughout the home. The primary bedroom boasts a private exit to the back patio, a large closet, dual vanities, and a large easy access enclosed tiled shower. 3 car attached garage.

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23012 N Giovota Drive Sun City West, AZ 85375

$574,900

3 Beds

2 Baths

1,904 SqFt

Status Active

MLS # 6769607

Property Type Single Family Residence

Price Type --

Discover the epitome of retirement luxury in this exceptional 1,904 sq ft home, perfectly positioned on a larger lot with no direct rear neighbors, offering maximum privacy and serenity. Embrace the elegance of a lushly landscaped front yard featuring a private courtyard complete with a cozy fireplace, setting the scene for unforgettable gatherings. Step inside and be greeted by the impressive rotunda foyer leading to an open-concept living space. Seamlessly connecting the living, dining, and kitchen areas, this layout is ideal for entertaining and everyday living. The kitchen boasts granite countertops, raised panel cabinets with both under and upper lighting, and a breakfast bar island for your culinary explorations. The primary suite is a sanctuary of comfort, offering ample room for a sitting area or office workspace, a walk-in closet, dual sinks, a vanity counter with granite tops, and a beautifully remodeled master walk-in custom shower. Across the home, find two additional spacious bedrooms with easy access to a second bathroom featuring a walk-in shower. This residence is further enhanced by plantation shutters, 18 southwestern tiled flooring, newer tile plank flooring in bedrooms, upgraded lighting fixtures, a newer hot water heater, and a water softener system. The rear yard is a private retreat with a raised conversation firepit area, built-in BBQ, extended patios, and rear awning  all designed for your relaxation and enjoyment. Experience active adult living at its finest in one of Corte Bella's most exquisite homes. Don't miss out on this unique opportunity to own a piece of paradise!

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520 S Roosevelt Street Unit 1009 Tempe, AZ 85281

$574,900

2 Beds

2.5 Baths

1,483 SqFt

Status Active

MLS # 6743200

Property Type Apartment

Price Type --

Tempe Urban Living, now ''Skye 15 Lofts'', nestled within the Riverside-Sunset Neighborhood just west of Mill Avenue in Downtown Tempe, is truly an architectural gem. Designed by the Baldinger Studio, this large 2 bed, 2.5 bath loft shares a common modern DNA: open floor plans, exposed block construction, Rooftop Terraces, urban Backyard w/synthetic grass, and European style cabinetry. But most importantly, they share modern minimalist architecture that is unique not only to Downtown Tempe, but to the entire Valley of the Sun. This dwelling is walking distance to the Metro light rail, Tempe Town Lake, Mill Ave Streetcar, Whole Foods Marketplace, Mill Avenue with tons of shops and restaurants, ASU and everything else downtown Tempe has to offer!

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3426 W Carter Road Phoenix, AZ 85041

$574,900

3 Beds

2.5 Baths

2,230 SqFt

Status Active

MLS # 6773448

Property Type Single Family Residence

Price Type --

This stunning home has it all! 4 y/o Woodside home with endless upgrades in gated community. Kitchen is perfect for preparing & sharing meals and memories, Gas stove with stainless range hood, wall oven and microwave, upgraded refrigerator, step in pantry, extended island and beautiful backsplash. Home has large den/office; upgraded shutters throughout the home. The backyard is a beach lover's dream with a gorgeous pool that has a fountain and a large Baja step. The backyard also has a custom Palapa and a putting green. Extended patio with ceiling fan and turf for easy maintenance. Surround sound is installed in the home. House was set back further than others to allow for a longer driveway for room to park an extended vehicle. Home neighbors beautifully landscaped greenbelt.

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3448 W Sunshine Butte Drive San Tan Valley, AZ 85144

$574,900

4 Beds

3 Baths

3,291 SqFt

Status Active

MLS # 6777185

Property Type Single Family Residence

Price Type --

Welcome to this stunning 4-bedroom, 3-bath home, nestled near the beautiful San Tan Mountains in a wonderful neighborhood. This 3,290 square foot home features large vaulted ceilings and newer flooring throughout. The updated kitchen is perfect for any home chef, and the pebble tech pool offers a refreshing retreat. With solar panels and a Tesla charger connection in the 3-car garage, this home is both eco-friendly and convenient. Enjoy the spacious layout and all the modern amenities this home has to offer. The community also boasts a park, schools, walking paths, and plenty of shopping and restaurant amenities nearby.

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4307 E Jesse Street Gilbert, AZ 85295

$574,900

3 Beds

2 Baths

1,693 SqFt

Status Active

MLS # 6784518

Property Type Single Family Residence

Price Type --

To be built: This beautiful Blue Streak plan, 1693 sf single story home with 2 car garage side entry garage is beautifully laid out with 3 bedrooms and 2 baths off a spacious great room with open kitchen. The master bedroom features a roomy walk in closet and a beautiful appointed master bath highlighted by a separate bath and shower. Come visit Cooley Station by Fulton Homes, you won't be disappointed!

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2545 E Vista Bonita Drive Phoenix, AZ 85024

$574,900

4 Beds

2.5 Baths

2,094 SqFt

Status Active

MLS # 6768128

Property Type Single Family Residence

Price Type --

Welcome to this beautifully remodeled 4-bedroom, 2.5-bathroom home in the highly sought-after Crescent Butte neighborhood (perfect for an AIRBNB or personal residence). As you approach, you'll be greeted by a charming exterior with stunning curb appeal, setting the tone for what lies inside. Step through the front door and into a light-filled space, featuring large arched windows that flood the home with natural light. The newly remodeled kitchen is a showstopper, complete with crisp white shaker cabinets, elegant quartz countertops, stainless steel appliances, and under-cabinet lighting. Luxury vinyl plank flooring flows throughout, offering both style and durability. The spacious primary suite offers a peaceful retreat, boasting a spa-like bathroom with modern finishes and a large walk-in closet. The additional three bedrooms provide ample space, perfect for a growing family or those who need a home office or guest room. The backyard is a true oasis, with lush green grass that's perfect for relaxing evenings or entertaining friends and family. With a newer HVAC system (2021), this home is move-in ready, ensuring your comfort year-round. Located in the heart of Crescent Butte, you'll enjoy the best of both worlds: a serene neighborhood with easy access to local amenities, parks, and schools. Don't miss the opportunity to make this stunning home yours!

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1309 E Ellis Drive Tempe, AZ 85282

$574,900

3 Beds

2 Baths

1,852 SqFt

Status Active Under Contract

MLS # 6767556

Property Type Single Family Residence

Price Type --

No HOA!!! This beautiful 3-bed, 2-bath home w/ pool in a highly desirable area of Tempe offers all the convenience with easy access to the 101 & 60 freeways, Sky Harbor, ASU and all the dining and shopping you need! It gets even better with a complete remodel in 2018 including new wood-look tile flooring, new AC, new roof, new paint, new windows and new cabinets and countertops. This home is move-in ready with a washer/dryer and refrigerator as well as a neutral palette to suit any style. When you want to entertain, step outside to the expansive backyard where you will find an oasis ideal for entertaining, cooling off in the pool or simply enjoying the Arizona sunshine. The covered patio offers shade for those warm afternoons, while the low maintenance yard allows for more leisure time and less upkeep. Don't miss out on this incredible opportunity to own a piece of Tempe real estate! Come take a tour today and fall in love with everything this home has to offer. **Please note that the large cactus in the front yard was removed on 11/16/24.

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12414 N 33rd Street Phoenix, AZ 85032

New

$574,900

3 Beds

2 Baths

1,508 SqFt

Status Active

MLS # 6787192

Property Type Single Family Residence

Price Type --

Beautiful 3 bed 2 bath home on a spacious lot with no HOA in Paradise Valley West! Enjoy east-west exposure and a remodeled interior featuring a formal living room, a family room, and wood laminate flooring. The updated kitchen boasts an Alexa-enabled Smart Faucet, island breakfast bar, quartz countertops, stainless steel appliances, and white shaker cabinets. The primary bedroom offers French doors to the backyard and a stylish en suite bathroom with touch-screen mirrors. Bonus: A separate guest house (single-wide) offers Airbnb potential or extra living space. The enclosed carport serves as a 2-car garage, complete with 220 EV charging, and the property includes two RV gates, a dog wash tub in the laundry room, and owned solar that conveys at no cost. cost, adding energy efficiency. Located near freeways, shopping, dining, schools, parks, and hiking trails, this home offers unbeatable convenience. Schedule your showing today!

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2166 S 217th Lane Buckeye, AZ 85326

$574,900

4 Beds

2.5 Baths

3,523 SqFt

Status Active

MLS # 6729300

Property Type Single Family Residence

Price Type --

This spectacular two-story home is perfect for a large family with plenty of room to spread out! Enjoy New Paint outside, new carpet, a water softener, and OWNED solar panels for energy efficiency. Downstairs offers eat in kitchen to entertain your guests with ease. Upstairs boasts four spacious bedrooms with ample closet space. The master bedroom has French doors, walk-in closet and garden tub plus separate shower. Step outside to find your own private oasis complete with brand new sparkling pool, landscaping and views of the desert green belt! Plus there's an extended driveway, three car garage, RV gate and plenty of slab parking. This home is located conveniently close to shopping, restaurants, easy freeway access, hiking & more!

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12384 W Hazelwood Street Avondale, AZ 85392

$574,900

8 Beds

4 Baths

3,900 SqFt

Status Active

MLS # 6746885

Property Type Single Family Residence

Price Type --

Welcome to this spacious 8-bedroom, 4-bath home with a 3-car garage, featuring the quality craftsmanship of a DR Horton floor plan. The heart of this home is the enormous kitchen, complete with cherry cabinets, stainless steel appliances, granite countertops, and a large island—perfect for cooking and entertaining. The master suite offers a luxurious retreat with dual vanities, a separate garden tub, shower, and a huge walk-in closet. Step outside to the spectacular private backyard, where a covered patio spans the entire width of the home, ideal for outdoor gatherings. With dual AC units and a desirable North/South exposure, you'll enjoy comfortable indoor temperatures year-round while keeping utility costs low. Don't miss out on this exceptional property!

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33395 N 132nd Drive Peoria, AZ 85383

$574,900

4 Beds

2.5 Baths

1,940 SqFt

Status Active

MLS # 6748045

Property Type Single Family Residence

Price Type --

MOVE IN NOW! Welcome to your brand NEW HOME in Villages at Vistancia, North Peoria. With a premium oversized lot and a north-facing view, you are surrounded by the natural beauty of the Sonoran desert and the mountains. Step inside this elegant Shiloh Model by Beazer Homes. 1942 sq.ft. of living space, 4 BED + 2.5 BATHS + 2 CAR Garage with a Double RV Gate! Open concept main living area with classic herringbone-natural wood look porcelain tile floors, 12' great room double sliding doors, LED recessed canned lighting, oil rubbed bronze fixtures and hardware, upgraded designer wood shutters, blinds, trim, and doors throughout. The open-concept kitchen features beveled edge warm-tone granite countertops and an island, rich walnut cabinets, under-cabinet lighting,... stylish smoked glass pendant lighting, stainless steel Whirlpool appliances with double ovens, and a pantry for all your storage needs. Spacious master suite with wood shutter and can-lighting, master bath features porcelain tile floors, executive height granite vanity, double sinks, oil rubbed bronze fixtures, large walk-in shower with dark trim, and a walk-in closet. 3 additional bedrooms, a full bathroom, and a convenient powder room offer plenty of space throughout the home. Pre-wired for cameras, security flood lights, electric car, solar, and ceiling fans. Step out back and enjoy the scenic mountain views, bring your decorating ideas, and create your perfect Arizona oasis on this premium oversized lot. Neighborhood mountain views, close proximity to 303 freeway access, 20 minutes to TSMC, shopping, dining, entertainment, health care, and less than 20 min. away from beautiful Lake Pleasant Regional Park. Full list of updates available.

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