Determining Cabin Value?

[Cabin Fever]

I'm planning on selling my camp, probably next spring. I can figure out the going rate for acreage, but I'm stumped on how much to add for the value of the cabin itself? It's a rustic log cabin (~20 years old), no electric or water, propane lights/refrig/stove, ~1/2 mile back into the woods (private driveway leading to it), roof is 9 years old, woodstove for heat. Because of this, I can't estimate the value by square footage, like a regular house. The entry room is 8'x10.5'. The main room is 11.5'x15'. There is also a loft, where we have beds. 

 

Hoping that someone that has had experience either selling or purchasing such a place and would have some idea of what kind of value it would have. Would like to get an idea, so I can add the value to the acreage value.

 

 

 

 

[outdoorstom]

I'm not going to be able to help you with the price, but I love the look of the cabin!

[Paula]

Maybe I could stay there late spring to help you with price.

[Cabin Fever]

Maybe I could stay there late spring to help you with price.

Only if you promise to thin the deer herd out a little this fall! LOL

[Paula]

No I think I would like to lounge, no pressure to do anything or talk to anyone.

[BizCT]

What is the other building?

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[Cabin Fever]

What is the other building?

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A shed and lean to. The shed is 12'x18' (store tractor, stands, tools, and such) with an attached 12'x18' lean-to (to store the lawnmower, brushhog, lumber, etc...).

 

Just noticed that the larger lean-to is on the other side of the shed. The visible lean-to is ~ 5'x12'. Mainly to protect firewood, refrig, and such.

Edited October 12, 2015 by Cabin Fever

[Ricky 86]

All depends on the location, where I hunt in the Southern tier it is insane how cheap the amish built bat n board cabins, a cabin that size water tight would be about $5,000, that definitely keeps the value down on cabins out here. But that is a very unique look with the logs you have, I have a friend who purchased a 5 acre plot in Attica last year with 3 small hand built log cabins on property similar to yours for $50,000. They did have 2 wells and 2 septic's on property and electric though.  I personally would value the cabin at $20,000 , and the out building another $10,000. But price could vary depending on location and the land that goes with it. I know the 1/2 acre driveway a good amount of value, for some one looking for true seclusions ! What area is this cabin in ?
 

[Cabin Fever]

Wayne County, 8F. Have 28 acres that its on also. Have 5 established foodplots in place too, from 1/4 - 1 acre in size.

[nyslowhand]

Since I've had the privilege of seeing this cabin & property in person, have to admit "rustic" doesn't do any justice to describing the cabin itself! Actually hand-made from local timber, not one of those kits made in a factory & assembled on site! IMHO, the cabin has the appearance & feel of more pioneer or mountain man-ish than merely "rustic"!!!

 

BTW - A super "get-away" cabin and property package with many more intangibles than OP mentioned!

[First-light]

Look up some comparable listing on real-estate sites. Place looks nice, sorry you have to sell.

[Ricky 86]

What would you value the average out there at $2500 an acre ? To give you a couple comps about 35 minutes south of Rochester in Lima just sold a 10 acre plot for 4,000 an acre, was all young timber, lower then the neighbors farm field. So was a lot of muck and wet land, and sold 40 acres last year of prime fields and timber for 2,200 an acre. It is tough sometimes to get the true value of land with a larger piece of average because people don't have the funds for such large plots. The sweet number I see for cabins that move extremely fast are around 50,000. How far from east view mall are you roughly ?

[Cabin Fever]

It's 45-50 miles northeast of Eastview. Close to Lake Ontario (convenient for fishing), plus within minutes of 2 different state land wildlife management areas.

I think I can get a good idea of property value, by checking out nearby listings, but its the cabin itself that stumps me...

[Ricky 86]

Depending on the condition of everything I would value the property as a whole for a listing price of 89,000. I still stick to my above statements of price accesments for recreations pieces. Depends how aggressive you want to be will be up to you, everything I have listed has sold with in a week on craigslist. I don't use realtors, not worth paying 6% to me personally. But I will say firs no reason and the first week of a listing is most important to have a great price, to bring a lot of attention and a fast sale. Good luck !

[wdswtr]

What does your insurance value the cabin at?

[edbone]

Raffel it

[Ricky 86]

I'll buy a ticket ! Lol

[nyslowhand]

What does your insurance value the cabin at?

..... as in an insurance (fire) claim? 

[hunter]

First, most realtors will give you a free comp on the price. Second, I tried to sell my cabin myself and finally went to a realtor and it was sold in a few months for a better price than the offers I got. BTW the buyer was from Colorado and I never would have gotten his attention without the realtor using mls. Good luck.

[jjb4900]

I would thing 15-20 grand in added value.....I base that on nothing other then what it would cost to go through the hassle of permits and cost to build something comparable.

[Merlot]

Wonder if you have looked having local electrical utility give you a price for running Underground primary electric service to log home. I understand that 1/2 mile trench and conduit is some work, but maybe with at least the creature comfort of electricity, you may get more of a bidding war for your property and let the next owner worry about the well and septic....just my humble opinion.  

[jjb4900]

Wonder if you have looked having local electrical utility give you a price for running Underground primary electric service to log home. I understand that 1/2 mile trench and conduit is some work, but maybe with at least the creature comfort of electricity, you may get more of a bidding war for your property and let the next owner worry about the well and septic....just my humble opinion.  

I would think that would be a huge investment for a minimal return....

[G-Man]

No electric or water, maybe 25000 for cabin add out building 6000, true worth 30 to 35 grand not including acreage. ...always ask a little more than you think you can always drop or accept an offer but can't really go up.. me I would ask 45 for cabin and buildings and add acreage in at going rate plus a few grand for food plot and road imporvements

[Cabin Fever]

Thanks for the input! It's given me a good place to start and things to think about!