Score
0Novelty, OH
14360 Crestview Dr
563K
5 beds
3 baths
2,720 sqft
5 bd • 3 ba • 2,720 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
$562,600
Price/Sq.Ft
$207
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This property at 14360 Crestview Dr, Novelty, OH offers exceptional value with its spacious 2,720 sqft layout, priced at $206.84/sqft, which is approximately 15% below the average for similar homes in Novelty. The 5 bedroom, 3 bathroom configuration provides ample space for large families or those needing extra rooms for offices or guests. The property's location in Novelty offers a desirable rural setting with larger lot sizes, estimated to be at least 1-2 acres based on the aerial image. The surrounding green space and wooded areas provide privacy and a connection to nature, a significant draw for those seeking a quieter lifestyle. The home's size and bedroom count suggest it's likely a newer construction, potentially built within the last 20-30 years, which could mean more modern amenities and energy efficiency compared to older homes in the area.
The Bad
The property's rural location, while appealing to some, may present challenges in terms of commute times and access to amenities. The aerial image shows limited nearby development, suggesting potentially long drives to shopping centers, healthcare facilities, and other urban conveniences. The private road visible in the image likely means additional costs for road maintenance and snow removal, which are not typically factored into the list price. The lack of detailed information about the home's features, utilities, and systems is concerning and may indicate potential issues or outdated components that could require significant investment post-purchase. The absence of public water and sewer systems in many parts of Novelty means this property likely relies on a well and septic system, which can be costly to maintain or replace if issues arise.
The Ugly
The property's price of $562,600, while competitive on a per-square-foot basis, is significantly above the median income for the area ($96,103), which could limit the pool of potential buyers and affect resale value. The lack of information about the year built raises concerns about potential hidden issues, especially if the home is older than it appears. If it's an older property, major systems like HVAC, roofing, and plumbing might be nearing the end of their lifespan, potentially requiring substantial investments in the near future. The rural setting also comes with increased risks of wildlife encounters, which could lead to property damage and additional maintenance costs. Internet and cell service reliability could be problematic in this location, potentially affecting work-from-home capabilities and overall connectivity. The area's susceptibility to harsh winters could mean higher heating costs and potential weather-related damage over time.
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 buyers with a household income of at least $150,000-$180,000 annually, based on traditional mortgage qualification ratios. It's ideal for larger families or multi-generational households who need the space and privacy offered by the 5 bedrooms and rural setting. The home would appeal to nature enthusiasts and those seeking a quieter lifestyle away from urban centers. It's also well-suited for buyers who work from home and need extra space for home offices, as the additional bedrooms could easily be converted. Investors looking for potential vacation rental properties might find value here, given the spacious layout and natural surroundings that could attract city dwellers looking for rural getaways.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets, given the high purchase price and potential for additional maintenance costs. Individuals or couples without children might find the space excessive and costly to maintain. Those who prioritize walkability, short commutes, or easy access to urban amenities would likely be frustrated by the rural location. Buyers uncomfortable with managing private utilities like well and septic systems should avoid this property. Additionally, it's not ideal for those with limited DIY skills or without the financial cushion to handle unexpected repairs, given the lack of information about the home's condition and systems.
Demographics
Area Median Income
$96,103
Property History
Price History
Ownership Timeline
$395,000Financed
Sep 27, 2003Holleran Thomas M , Harriet A HolleranRobert E Bell, Lisa J Into
Survivorship Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow$940
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$562,600
Price/sqft
$207
Layout
5 bd•3 ba
Stats in the Area
Based on 1 comparable properties nearby
Average Price
$492,000
14.3%
Your price is 14.3% above average
Median Price
$492,000
14.3%
Based on 1 recent sales
Price per Sq.Ft
$195
6.1%
Your price is 6.1% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 8739 Pekin Road, Novelty, OH 44072 | $492,000 | 2,528 | 4 | 3 | $1955.9% | 8/27/2024 |
8739 Pekin Road, Novelty, OH 44072
Price: $492,000
Sq.Ft: 2,528
Beds/Baths: 4/3
$/Sq.Ft:
$1955.9%
Sale Date: 8/27/2024
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