Cheap Vacant Land for Sale in Indiana – Finding Great Deals
Indiana has many great properties for sale, and the state has become a very popular choice for anyone that is investing in land. You’ll find major parcels of land spanning dozens of acres for sale at rock-bottom prices as well as smaller lots that are better for the first time investor to start their portfolio with.
The population of Indiana is ranked 16th in the country, with 2015 estimates at 6.619 million people living in the state. Indiana spans 36,400 mi.², and consists of 1.5% water. The state has a very diverse economy, with 2012 gross state product being $298 billion. The population has grown by 2.1% between 2010 and 2015, with immense growth seen between 1990 and 2000 where nearly 500,000 people relocated to the state.
Indiana Land Deals
Major investors will be able to find the perfect investment opportunity within Indiana. In La Porte, Indiana, there is currently an 89 lot subdivision for sale for $2.85 million in cash. Already subdivided into lots, this is vacant residential land with roads that are already constructed, including curves and asphalt. A well or septic system is required, and electricity and gas is available on the land.
Taxes are approximately $45 per lot, and the entire property spans 89 acres with each of the 89 lots having 1 acre of land. This is one of the best investment opportunities currently available in Indiana, and all of the soil is already laid down for you. The lot also has many ponds throughout the subdivision, which will demand premium prices for homes are built in the vicinity.
While this is an exceptional piece of property where everything is ready for building, the average price per acre is a little more expensive at just over $32,000 per acre of land. But this is an opportunity where the right investor can come in, build several properties, and see massive returns relatively quickly.
Let’s take a look at a few other land opportunities in the area to get a better understanding of what the ordinary investor is looking at in terms of land prices:
* A heavily treed lot that spans 0.28 acres is for sale for $1,000.
* A 6,500 square-foot lot is for sale in Logansport for $2,500.
* A 1.1-acre lot is for sale for $8,500.
The state of Indiana is like many other states, where prime locations demand a much higher price for the land.
Indiana Real Estate Market Overview
Perhaps you already have a plan for your land, but if you don’t, building a structure is never a bad idea. Indiana has a very rapidly growing real estate market, and I recommend anyone purchasing a lot of land at rock-bottom prices to consider building even a modest home on the property to boost your ROI.
Let’s take a look at some of the statistics as of November 2015 for the state of Indiana:
* The amount of pending home sales increased by 10.1% in 2015.
* The amount of homes that closed decreased by 0.5%.
* New listings increased by 6.5% on the year.
* The median sale price increased by 5.7% on the year.
* The average sale price increased by 6.7% statewide to $158,175.
The real estate market in Indiana is rather healthy, with median sale prices up 5.7%, and average sale prices increasing by 6.7%.
Indiana Land Investment Ideas
When you buy land, you have the option of either holding onto the property and selling it as the price increases, building a structure on the property and selling it, or working the land. What’s the best option for you? This depends on a variety of factors:
* How much money do you have to invest?
* How long do you want to hold onto your investment?
* How much time do you want to invest into the property?
If money is no object, you’ll be able to make your fastest return by building a home on the property and selling it. If you want to be a hands-on owner, you’ll be able to use the land for hunting, farming or timberland. Finally, if you want to be a hands-off investor and don’t mind your money being tied up in the market for a little while, you can simply purchase the land and hold onto it until the price increases, and sell it.
We can further understand the pricing for all farming and timberland by looking at current opportunities on the market.
Timberland is often best worked in conjunction with hunting land or grazing land. This will allow you to earn a profit as your timber matures, and is a very hot market in the state of Indiana.
Farming in Indiana is thriving. Indiana’s normal growing season is between 160 and 190 days. Steeper areas are used for woodland, hayland and for pasture. Indiana ranks fifth in the country for producing corn, at a rate of 960 million bushels a year. The state ranks fourth in the country for soybean production, with over 211 million bushels produced per year. Peppermint and spearmint rank fourth and fifth in production in the state. You’ll also find that Indiana ranks second for layer chickens and third in the country for total number of eggs produced. Indiana has more ducks than any other state in the country, and is the leader in the duck industry. Regular and fat-free ice cream is also very popular in the state, with Indiana ranking second in the country in production. Farming and working the land in Indiana is a very popular choice, and you’ll be able to make a nice income as a result.
Indiana offers many great opportunities for investors. You have several options to choose from, whether it be lake-view land or land that is meant for pasture and grazing. Indiana has one of the most stable real estate markets, and the population in the state is steadily increasing year-over-year.
While land prices are slightly higher in some areas of Indiana, the opportunity to work the land is increased as hunting, grazing, pasture and ranching are very popular in the state. There also opportunities for timberland, which is ideal for the hands-off owner that doesn’t mind paying someone else to tend to their timber and splitting the profits.
LandCentury.com specializes in selling wholesale real estate at the lowest prices. We believe that everyone should have the right and the opportunity to get a great deal on investment property All you have to do to get the property you’ve always wanted is follow these simple steps:
Step 1: Find the Perfect Property
Use LandCentury.com’s powerful network of real estate listings to find the property of your dreams. We have everything from move-in ready investment properties and cheap houses to rural land, buildable lots, and fixer-uppers. No matter what type of real estate you’re looking for, you can find it at LandCentury.com
Step 2: Click the Buy Button
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