Sold lot 4 of 6 last Tuesday and the check was $11,400 more than I modeled
Six-lot split on 4.2 acres in Hays County, Texas. I bought the parcel for $218k in January, engineering and platting ran $34k, and I put a gravel apron and survey markers on each lot before listing. First three lots moved in 31 days at $58k, $61k, $58k. Lot 4 closed last week at $72k, which I did not see coming because the two lots behind it have worse sight lines and I had already priced those at $54k each to move them fast. Now I am sitting here wondering if I priced the back two wrong or if lot 4 just had a buyer who wanted that specific corner. The comparable I used was a 2023 sale two miles north that closed at $57k, so I thought $72k was the ceiling for the whole project, not just one lot. Total projected at original pricing was $346k on a $252k all-in cost. If the back two get even $62k each I am at $375k. Five years of watching other people do this and I kept thinking the engineering bill was the variable that killed margin. Turns out pricing the interior lots conservatively killed mine more.