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112 Shoreline Dr
Score
0
Carter Lake, IA

112 Shoreline Dr

500K
5 bd • 4 ba • 5,189 sf

This analysis was generated on 2/6/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$500,000

Price/Sq.Ft

$96

Year Built

1999

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

• Lakefront Location: The property offers direct access to the lake and stunning lake views, which are highly desirable and command a premium in the Carter Lake market. Lakefront properties generally appreciate faster than inland properties. • Large Square Footage: With 5,189 sqft, the property offers ample living space for a large family or those who value spaciousness. The average home size in Carter Lake is around 1,500-2,000 sqft, making this property significantly larger. • Oversized Garage: The 1700+ sqft garage provides ample space for vehicles, boats, and storage, a rare and valuable feature. This is particularly attractive for lakefront living, where boat storage is often needed. • Low Price per Square Foot: At $96.36/sqft, the property is priced below the average for comparable homes in the Omaha metro area, offering a potential value opportunity. The average price per square foot in Omaha is around $150-$200. • Minimal Flood Risk: The property has a minimal flood risk (1/10) and is located in FEMA Zone X_UNSHADED, reducing the need for expensive flood insurance. This is a significant advantage given Carter Lake's proximity to the Missouri River.

The Bad

• Dated Condition: The property is described as 'dated' and needing a remodel, which will require a significant investment of time and money. This is confirmed by the listing description. • School Ratings: The local schools have below-average ratings (Carter Lake Elementary 4/10, Woodrow Wilson Middle School 4/10, Thomas Jefferson High School 2/10), which may deter families with children. These ratings are based on standardized test scores and other metrics. • Commuting Challenges: Carter Lake's location surrounded by Nebraska can lead to traffic congestion and longer commute times to Omaha, especially during peak hours. This is a known issue for residents of Carter Lake. • Potential for Hidden Issues: As an 'AS-IS' sale, there is a risk of encountering hidden structural or mechanical problems that will require additional repairs. A thorough inspection is crucial before making an offer. • Limited Appreciation Potential: Given the jurisdictional issues and the 'dated' condition, the property's appreciation potential may be limited compared to other areas in the Omaha metro.

The Ugly

• Potential Renovation Overruns: Remodeling a home of this size and age can easily exceed initial budget estimates. Unexpected issues like asbestos, lead paint, or structural problems can significantly increase costs. • High Property Taxes: Despite being in Iowa, property taxes may be higher due to the influence of the Omaha market and the unique jurisdictional situation. Verify tax rates and compare them to similar properties in both Iowa and Nebraska. • School Performance Concerns: The low school ratings (2-4/10) can negatively impact property values and make it difficult to attract families with children. This can be a long-term challenge for resale. • Iowa/Nebraska Jurisdictional Issues: The complexities of living in an Iowa town surrounded by Nebraska can create administrative headaches and legal uncertainties. Consult with local experts to understand the implications. • Limited Buyer Pool: The unique design and 'dated' condition may limit the pool of potential buyers, making it harder to sell the property in the future. A well-executed remodel is crucial to broaden its appeal.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

• Investors Seeking Value-Add Opportunities: This property's 'dated' condition presents a chance to remodel and increase its market value, especially given its lakefront location and proximity to the park. The large garage and spacious layout also support potential for high-end renovations. • Buyers Prioritizing Garage Space: The oversized 1700+ sqft garage is ideal for hobbyists, car collectors, or those needing ample storage for boats and recreational equipment. This feature is unusual and highly desirable in the Carter Lake area. • Individuals Seeking a Unique Home with Lake Views: The property's modern design, walls of windows, and stargazing tower offer distinctive architectural elements and stunning lake views, appealing to buyers who value aesthetics and unique features. • Buyers Comfortable with Potential Commuting Challenges: While located in Iowa, Carter Lake relies on Nebraska infrastructure. Individuals who are comfortable with potential traffic congestion and cross-state commuting to Omaha for work or amenities may find this property suitable. • Those Seeking a Large Home at a Lower Price Per Square Foot: At $96.36/sqft, this property offers a substantial amount of living space at a relatively affordable price compared to newer constructions or fully remodeled homes in nearby Omaha, where prices can exceed $200/sqft.

Not For

• Buyers Seeking a Move-In Ready Home: The property is described as 'dated' and needing a remodel, making it unsuitable for those who want a modern or updated home without undertaking renovations. • Individuals Sensitive to Commuting Issues: Carter Lake's location surrounded by Nebraska can lead to traffic congestion and longer commute times to Omaha. Those prioritizing easy access to amenities may find this challenging. • Families Prioritizing Top-Rated Schools: The local school ratings (2-4/10) are below average. Families seeking high-performing schools may need to consider private options or alternative neighborhoods. • Buyers Unwilling to Manage Renovation Projects: Remodeling a 5,189 sqft home requires significant time, effort, and financial investment. Buyers who are not prepared to manage contractors and oversee renovations may find this overwhelming. • Those Seeking a Standard Single-Family Home: The property's unique design, including the stargazing tower and unconventional layout, may not appeal to buyers seeking a more traditional home.
Demographics
Area Median Income

$58,750

Property History

Price History
Ownership Timeline
$0Cash Purchase
Oct 28, 2019
Stephen G Sayler, Sandra F SaylerBrett E Wheeler, Sandra K Wheeler
Re-Recorded Document
Non-Arm's Length Transactions
$0Cash Purchase
Oct 28, 2019
Stephen G Sayler, Sandra F SaylerBrett E Wheeler, Sandra K Wheeler
Re-Recorded Document
Non-Arm's Length Transactions
$470,000Financed
Oct 28, 2019
Stephen G Sayler, Sandra F SaylerBrett E Wheeler, Sandra K Wheeler
Warranty Deed
Standard Sale (Purchase/Resales)

Property Taxes

$8,964
2023 Tax Assessment
1.0%from previous year
Assessed Value$542,700
Tax Rate1.65%

Sunlight Analysis

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Sunlight Analysis

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Schools

Nearby school quality by education level

Elementary

4.0/10
Average

Middle

4.0/10
Average

High

2.0/10
Below Average

Financials

Monthly Costs
Market Rent (5 bed)

$830

Get a detailed estimate on Zillow
HOA Fee

$8

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