I have a friend that purchase a half section on the south end of a 40000 population at the time community in the early 80s. He paid 2300 or so per acre we all thought he was nuts, he now sells lots for $400,000.00+ per acre. There is one limiting stipulation that 10% of the land must be turned into a community service area such as a park by the owner based on residential home addition. None the less a pretty good ROI. He's a very busy man though.