Score
0Ashland, OR
135 Maywood Way
625K
4 beds
3 baths
2,008 sqft
4 bd • 3 ba • 2,008 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$625,000
Price/Sq.Ft
$311
Year Built
1993
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 135 Maywood Way, Ashland, OR 97520 offers several attractive features:
1. Location: Situated across from Oak Knoll Golf Course and near Emigrant Lake, providing scenic views and recreational opportunities. It's just minutes from Ashland's amenities, offering a balance of tranquility and convenience.
2. Recent Remodel: The home has been beautifully remodeled with high-quality finishes, including white oak wood floors, quartz countertops, new appliances, and Gary Smith cabinetry. This reduces immediate maintenance needs and adds value.
3. Energy Efficiency: Originally built as a "Good Sense" home with a metal roof, vinyl windows, and copper plumbing. The addition of ductless mini-splits further enhances energy efficiency, potentially lowering utility costs.
4. Fire Resistance: The property features fire-resistant lap siding, an important feature given Ashland's wildfire risk.
5. Space: At 2,008 sq ft with 4 bedrooms and 2.5 bathrooms, the home is spacious and above the median size for the area. The price per square foot of $311.25 is competitive for a recently remodeled home in Ashland.
6. Main-Level Primary Suite: This feature adds convenience and accessibility, appealing to a wide range of buyers.
7. Water Supply: The property has a great well at 12 GPM, which is a significant advantage in an area prone to drought conditions.
8. Additional Land: The property is being sold with a neighboring buildable tax lot, offering potential for expansion or development.
9. Septic System: The septic sand filter has been rebuilt, reducing concerns about this critical system.
10. Rental Potential: With 4 bedrooms, the property could generate significant rental income. Based on local market data, a 4-bedroom home in Ashland can rent for approximately $2,420 per month.
The Bad
1. Price Point: At $625,000, the property is priced significantly above Ashland's median home value, which may limit the pool of potential buyers.
2. Shared Well: While the 12 GPM well is a positive feature, it's shared with the separate lot. This could lead to potential complications or disputes over water usage and maintenance responsibilities.
3. Septic System: Although rebuilt, septic systems generally require more maintenance and have more restrictions than properties connected to municipal sewer systems.
4. Wildfire Risk: Despite the fire-resistant siding, Ashland's location in a fire-prone area means this property likely carries higher wildfire risk and potentially higher insurance costs.
5. Tourism Impact: The property's proximity to Ashland's amenities means it could be affected by seasonal tourist traffic and noise, particularly during peak seasons.
6. Limited Job Market: Ashland's job market is relatively limited, which could affect the property's long-term appreciation potential and resale value if economic conditions change.
7. Seasonal Weather Extremes: Ashland experiences hot, dry summers and cold, snowy winters. The property may require additional maintenance and utility costs to manage these extremes effectively.
8. Potential HOA or CC&Rs: The listing doesn't mention any HOA, but given the property's location and type, there may be community covenants or restrictions that could limit future changes or uses of the property.
The Ugly
1. Water Scarcity Risk: Despite the good well, Southern Oregon faces increasing drought conditions. Future water restrictions or depletion of the aquifer could significantly impact the property's value and livability.
2. Wildfire Vulnerability: While the home has fire-resistant siding, Ashland's location in a high-risk wildfire zone poses a constant threat. Insurance costs could skyrocket, or coverage could become unavailable in the future.
3. Market Volatility: Ashland's real estate market can be volatile due to its reliance on tourism and the university. Economic downturns or changes in these sectors could dramatically affect property values.
4. Potential Zoning Changes: The inclusion of a buildable lot could be affected by future zoning changes, potentially limiting development options or property use.
5. Septic System Limitations: Despite being rebuilt, the septic system could pose limitations on property use or require expensive upgrades in the future, especially if local regulations change.
6. Well Maintenance and Disputes: Sharing a well with another property could lead to costly disputes over usage, maintenance, or if the well fails or needs significant repairs.
7. Climate Change Impacts: Increasing temperatures and more frequent extreme weather events could affect the property's livability and maintenance costs over time.
8. Limited Appreciation Potential: Given the high price point and Ashland's limited job market, the property may have reduced potential for significant appreciation compared to more diverse economic areas.
9. Potential for Short-Term Rental Restrictions: If the property is intended for investment, future regulations limiting short-term rentals in Ashland could impact its income potential.
10. High Carrying Costs: With a purchase price of $625,000, plus potential HOA fees, high property taxes, and increased insurance costs due to fire risk, the total cost of ownership could be prohibitively high for many buyers.
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
This property is best suited for:
1. Affluent Buyers: Given the $625,000 price tag, this home is ideal for buyers with substantial income or assets. Based on traditional mortgage guidelines, a buyer would need an annual income of at least $150,000 to $200,000 to comfortably afford this property.
2. Remote Workers or Retirees: The spacious layout and prime location make it perfect for those who don't rely on the local job market, such as remote workers or retirees looking for a scenic and culturally rich community.
3. Outdoor Enthusiasts: Its proximity to Oak Knoll Golf Course and Emigrant Lake makes it ideal for those who enjoy outdoor activities and scenic views.
4. Energy-Conscious Buyers: The energy-efficient features and recent updates will appeal to environmentally conscious buyers looking to minimize their carbon footprint and energy costs.
5. Multi-Generational Families: With 4 bedrooms and 2.5 bathrooms, including a main-level primary suite, the home can accommodate multi-generational living arrangements.
6. Investors: The additional buildable lot provides opportunities for future development or rental income. At the current rental rate of $2,420 for a 4-bedroom home, an investor could potentially generate significant rental income.
7. Arts and Culture Enthusiasts: Buyers who value Ashland's vibrant arts scene, particularly the Oregon Shakespeare Festival, will appreciate the property's proximity to town amenities.
8. Privacy Seekers: The nearly half-acre lot and scenic views offer a sense of privacy and connection to nature, ideal for those looking to escape busy urban environments.
Not For
This property is not suitable for:
1. First-time Homebuyers: The high price point and potential additional costs make this property challenging for most first-time buyers.
2. Budget-Conscious Buyers: With a price tag of $625,000, this home is out of reach for buyers with moderate incomes or those looking for more affordable options in Ashland.
3. Those Dependent on Local Job Market: Given Ashland's limited job market, this property may not be suitable for buyers who need to find local employment to support the mortgage.
4. Low Risk Tolerance: The wildfire risk, water scarcity concerns, and potential market volatility make this property unsuitable for extremely risk-averse buyers.
5. Urban Lifestyle Seekers: While close to amenities, the property is not in the heart of downtown Ashland. Those seeking a walkable, urban lifestyle might prefer a more central location.
6. Low Maintenance Preferences: The septic system, shared well, and larger lot size require more maintenance than a typical urban property, making it less suitable for those seeking a low-maintenance lifestyle.
7. Short-term Residents: Given the high transaction costs associated with buying and selling, this property is not ideal for those planning to live in Ashland for only a few years.
8. Buyers with Mobility Issues: While the main-level primary suite is a plus, the two-story layout may not be ideal for buyers with significant mobility challenges who need a fully single-level home.
Demographics
Area Median Income
$63,777
Property History
Price History
Ownership Timeline
$426,000Financed
Nov 17, 2023Bob E HopkinsFix N Flip Llc
Warranty Deed
Non-Residential Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$950
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$625,000
Price/sqft
$311
Layout
4 bd•3 ba
Days on market
77 daysat time of analysis
Stats in the Area
Based on 5 comparable properties nearby
Average Price
$513,700
21.7%
Your price is 21.7% above average
Median Price
$495,000
26.3%
Based on 5 recent sales
Price per Sq.Ft
$258
20.6%
Your price is 20.6% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 660 Spring Creek Drive, Ashland, OR 97520 | $551,000 | 2,125 | 3 | 3 | $25916.7% | 12/12/2024 |
| 330 Crowson Road, Ashland, OR 97520 | $465,000 | 1,980 | 3 | 3 | $23524.5% | 9/27/2024 |
| 185 Maywood Way, Ashland, OR 97520 | $495,000 | 2,050 | 4 | 2 | $24122.4% | 12/17/2024 |
| 880 Pebble Beach Drive, Ashland, OR 97520 | $485,000 | 1,890 | 3 | 2 | $25717.6% | 9/30/2024 |
| 750 Oak Knoll Drive, Ashland, OR 97520 | $572,500 | 1,920 | 3 | 2 | $2984.2% | 8/22/2024 |
660 Spring Creek Drive, Ashland, OR 97520
Price: $551,000
Sq.Ft: 2,125
Beds/Baths: 3/3
$/Sq.Ft:
$25916.7%
Sale Date: 12/12/2024
330 Crowson Road, Ashland, OR 97520
Price: $465,000
Sq.Ft: 1,980
Beds/Baths: 3/3
$/Sq.Ft:
$23524.5%
Sale Date: 9/27/2024
185 Maywood Way, Ashland, OR 97520
Price: $495,000
Sq.Ft: 2,050
Beds/Baths: 4/2
$/Sq.Ft:
$24122.4%
Sale Date: 12/17/2024
880 Pebble Beach Drive, Ashland, OR 97520
Price: $485,000
Sq.Ft: 1,890
Beds/Baths: 3/2
$/Sq.Ft:
$25717.6%
Sale Date: 9/30/2024
750 Oak Knoll Drive, Ashland, OR 97520
Price: $572,500
Sq.Ft: 1,920
Beds/Baths: 3/2
$/Sq.Ft:
$2984.2%
Sale Date: 8/22/2024
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