181 Clapboard Ridge
181 Clapboard Ridge, basically a two-lot subdivision of five total acres, is back again, having expired last month unsold. It started at $8 million, dropped a million before expiring and has now had another $500,000 shaved off for its return appearance, for a new price of $6.5 million. Or you can buy the half with the tear-down on it for $4 million, although I’m not sure why you’d want to.
The assessment on this property if $2.9 million, or just under $1.5 a building lot, and that seems a lot closer to its current market value than the owner’s price. In fact, judging from some recent negotiations on better land quite close to here, I’d say the assessment is spot-on. Your opinion may differ, of course, in which case you should hurry to make an offer before another buyer with a similar opinion snaps it up.
Arguably, best comp for premium mid/backcountry dirt is ~$1MM/ac on RHR….