We bought 80 acres in Pike county 2 years ago for 120k. We plan to build on it in 15-18 years and just hunt it until then. Not much big timber, was replanted in '11 or '12. Seems to have a fair # of deer passing through. Has road frontage and not too far from town. I think we got a good deal.
I think you got a good deal too, and it sounds like a great place to hunt. I think people expect hunting land to go up like house prices or the stock market. It simply doesn't happen like that in areas far from towns. Which is good for folks like you looking to buy more land.