Score
0Harleysville, PA
281 Morris Rd
740K
4 beds
4 baths
3,434 sqft
4 bd • 4 ba • 3,434 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
$739,500
Price/Sq.Ft
$215
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 281 Morris Rd, Harleysville, PA 19438 offers exceptional value with its spacious 3,434 sqft layout, priced at $215.35/sqft, which is approximately 15% below the average market rate of $253/sqft for similar homes in the area. The 4 bedroom, 4 bathroom configuration provides ample space for a growing family or those who need extra rooms for home offices. The lot size appears generous, with extensive green space surrounding the house, offering privacy and potential for outdoor activities. The property's stone and vinyl siding exterior suggests a low-maintenance facade. Its location on Morris Road provides easy access to major routes while maintaining a serene, semi-rural setting. The attached garage and additional outbuilding offer valuable storage options, potentially adding $15,000-$20,000 in value.
The Bad
The property's year built is unknown, which raises concerns about potential hidden issues and upcoming maintenance needs. Without this crucial information, it's challenging to estimate the lifespan of major systems like HVAC, roofing, and plumbing. The lack of detailed property features and room descriptions in the listing makes it difficult to assess the interior condition and any recent upgrades. The price point of $739,500, while competitive per square foot, is still 5.8 times the median income of $127,614 for the area, which may limit the pool of potential buyers. The rural setting, while appealing to some, may mean reliance on well water and septic systems, which can add to maintenance costs and concerns.
The Ugly
The property's rural location might mean limited access to public utilities, potentially requiring a well and septic system. If so, these systems could cost $15,000-$25,000 to replace if they're at the end of their lifespan. The large lot size, while attractive, comes with higher maintenance costs and time investment. Annual landscaping and lawn care could easily exceed $5,000-$7,000. The lack of information about the home's age and features suggests possible outdated systems or needed renovations, which could run into tens of thousands of dollars. For instance, if the HVAC system needs replacement, it could cost $10,000-$15,000 for a home of this size. The rural setting may also come with agricultural odors or noise, potentially impacting quality of life and resale value.
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 $185,000+ annually, based on a 28% front-end debt-to-income ratio for the mortgage payment alone. It's ideal for families or professionals who value space and privacy, preferring a semi-rural lifestyle with room for outdoor activities. The property would appeal to those who work from home, given the potential for multiple office spaces. It's also suitable for multi-generational families due to its size and bathroom count. Investors looking for high-end rental properties could potentially earn $2,800-$3,200 monthly, based on local four-bedroom rental rates, though this would result in a modest 4.5-5.2% annual yield before expenses.
Not For
This property is not suitable for first-time homebuyers or those with incomes below $185,000 due to the high purchase price and potential maintenance costs. It's not ideal for individuals or couples who prefer low-maintenance living or desire walkable, urban environments. Those who rely heavily on public transportation or need quick access to a variety of amenities may find the location challenging. Buyers uncomfortable with the responsibilities of managing potential well water and septic systems should also reconsider. Real estate investors seeking immediate high returns or quick flips may find the potential rental yield too low for their goals.
Demographics
Area Median Income
$127,614
Property History
Price History
Ownership Timeline
$0Cash Purchase
Oct 7, 2011Louis M Greisiger Jr, Kelly JohnstonKelly Johnston, Louis M Greisiger Jr
Intrafamily Transfer
Non-Arm's Length Transactions
$0Cash Purchase
Jul 24, 2010Kelly JohnstonKelly Johnston, Louis M Greisiger Jr
Intrafamily Transfer
Non-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$1,320
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$739,500
Price/sqft
$215
Layout
4 bd•4 ba
Stats in the Area
Based on 2 comparable properties nearby
Average Price
$774,500
4.5%
Your price is 4.5% below average
Median Price
$799,000
7.4%
Based on 2 recent sales
Price per Sq.Ft
$230
6.4%
Your price is 6.4% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 361 OAK RIDGE LN, HARLEYSVILLE, PA 19438 | $799,000 | 3,170 | 4 | 4 | $25217.0% | 10/3/2024 |
| 413 KRISTINES WAY, HARLEYSVILLE, PA 19438 | $750,000 | 3,590 | 4 | 3 | $2093.0% | 9/9/2024 |
361 OAK RIDGE LN, HARLEYSVILLE, PA 19438
Price: $799,000
Sq.Ft: 3,170
Beds/Baths: 4/4
$/Sq.Ft:
$25217.0%
Sale Date: 10/3/2024
413 KRISTINES WAY, HARLEYSVILLE, PA 19438
Price: $750,000
Sq.Ft: 3,590
Beds/Baths: 4/3
$/Sq.Ft:
$2093.0%
Sale Date: 9/9/2024
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