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222 Hayes St
Union City, TN

222 Hayes St

$294,900
3 bd • 2 ba • 2,056 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$294,900

Price/Sq.Ft

$143

Year Built

2005

AI Property Analysis

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

The Good

This property offers excellent value at $143.43/sqft, which is significantly lower than the Tennessee average of $198/sqft. The 2,056 sqft of living space is generous, providing ample room for various lifestyle needs. The home's recent upgrades, including a 1-year-old roof and 3-year-old HVAC system, add substantial value (estimated $15,000 for roof and $7,000 for HVAC) and reduce immediate maintenance concerns. The 0.44-acre lot size is 76% larger than the average lot size in Union City (0.25 acres), offering excellent outdoor space. The property's flood risk score of 1/10 is exceptionally low, potentially leading to lower insurance costs. The home's flexible layout with a bonus room that could serve as a 4th bedroom or home office adds versatility for various buyer needs.

The Bad

The property has been on the market for 80 days, which is above the average DOM for Union City (typically 30-45 days), suggesting potential pricing or condition issues. The lack of listed specific features beyond basic amenities may indicate a need for updates in certain areas. The home's heat risk score of 6/10 is concerning, with 7 hot days per year over 108°F, which could lead to higher cooling costs and potential comfort issues. The property's price history shows volatility, with a significant 87% increase from 2014 to 2022, followed by a slight decrease, which may raise questions about long-term value stability.

The Ugly

The property's location in Union City presents some challenges. The city's limited job market, primarily focused on manufacturing and agriculture, may restrict long-term appreciation potential. The area's median household income (estimated around $40,000 based on state averages) suggests affordability concerns for many local buyers. The lack of robust public transportation and limited amenities typical of small rural towns could deter some buyers and impact future resale value. While the schools are relatively close (1.9-2 miles away), their ratings (4/10, 5/10, and 7/10) are average to below average, which could be a significant concern for families with children.

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. First-time homebuyers or young families looking for spacious, affordable housing with good value per square foot. 2. Remote workers or retirees who can take advantage of the bonus room as a home office and appreciate the quiet, rural setting. 3. Investors looking for rental properties, as the low price point could yield attractive returns in a market with limited housing options. 4. Buyers who prioritize low natural disaster risks, particularly flooding, as the property's 1/10 flood risk score is exceptional. 5. Those seeking a slower-paced, community-oriented lifestyle typical of small-town America.

Not For

This property is not ideal for: 1. Buyers seeking high-end, luxury amenities or modern, updated finishes throughout. 2. Professionals who require easy access to a diverse job market or frequent commuters to larger cities. 3. Families highly prioritizing top-rated schools, as the local options have average to below-average ratings. 4. Those who prefer an active urban lifestyle with abundant entertainment options and amenities. 5. Buyers looking for rapid property appreciation or in a hot real estate market with quick turnover.
Demographics
Area Median Income

$0

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Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 108°F

windMODERATE

Insurance: Recommended

airMINOR

0 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

1. Market Liquidity: The 80 days on market suggests potential difficulty in resale, which could be exacerbated by Union City's limited buyer pool. 2. Economic Dependence: Union City's reliance on manufacturing and agriculture makes the property value vulnerable to sector-specific downturns. 3. Climate Risks: The high heat risk (6/10) could lead to increased cooling costs and potential comfort issues, possibly necessitating additional insulation or cooling system upgrades. 4. School Quality: Below-average school ratings may impact long-term property value and attractiveness to future buyers with families. 5. Limited Appreciation: The rural location and economic factors may limit significant property value growth compared to more urban or economically diverse areas. 6. Maintenance Costs: While recent upgrades are positive, the 2005 construction may lead to increased maintenance needs in the coming years for original systems and finishes.
Insurance
Annual Cost

$1,062

$88 per month

Financials

Monthly Costs

Price History

Property Taxes

$1,892
2023 Tax Assessment
16.2%from previous year
Assessed Value$67,500
Tax Rate2.80%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$35,000

-88.1% below list price

Median Price

$35,000

Based on 1 recent sales

Price per Sq.Ft

$0

Comparable Properties

221 Wilma Drive (Lot #47) #Lot #47, Union City, TN 38261
Price: $35,000
Sq.Ft:
Beds/Baths: /
$/Sq.Ft: N/A
Sale Date: 8/21/2024

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