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317 Lee Ave
Ashland, OH

317 Lee Ave

$159,000
3 bd • 1 ba • 1,360 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

$159,000

Price/Sq.Ft

$117

Year Built

AI Property Analysis

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

The Good

The property at 317 Lee Ave, Ashland, OH offers excellent value at $116.91/sqft, which is significantly below the average for the area. With 1,360 sqft, it provides ample living space for its 3 bedrooms. The home's location on a tree-lined street with mature landscaping enhances its curb appeal and provides natural shade, potentially reducing cooling costs. The white vinyl siding and black shutters create a classic, low-maintenance exterior. The property includes a spacious front yard, offering potential for gardening or outdoor activities. Its price point of $159,000 is well-aligned with the median income of $55,413 in the area, making it potentially affordable for many local buyers.

The Bad

The property only has 1 bathroom, which may be inconvenient for a 3-bedroom home and could limit its appeal to some buyers. The lack of listed features suggests the home may not have recent upgrades or modern amenities. The absence of a visible garage in the image could be a drawback for some potential buyers, especially in an area with harsh winters. The unknown build year raises concerns about potential age-related issues and necessary updates. The limited property description and lack of detailed room information make it challenging to fully assess the interior condition and layout.

The Ugly

Given the lack of information about the home's age and systems, there could be significant hidden costs for repairs or updates. If the home is older, it may require substantial investments in areas like the roof, HVAC, plumbing, or electrical systems. The single bathroom could necessitate an expensive addition to make the home more functional for a family. The potential lack of energy-efficient features in an older home could lead to higher utility costs. Without information on the foundation or basement condition, there could be unseen structural issues or water damage problems typical in Ohio homes.

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 first-time homebuyers or small families looking for an affordable entry into homeownership in Ashland. It's ideal for buyers with a household income around $55,000-$65,000, aligning with the area's median income. The home would suit those willing to invest sweat equity for improvements over time. It's also appropriate for investors looking for a potential rental property, given the three-bedroom layout and the current three-bedroom rental rate of $1,190 in the area.

Not For

This property is not suitable for larger families needing multiple bathrooms or more than three bedrooms. It's also not ideal for buyers seeking a move-in ready, updated home with modern amenities. Individuals with mobility issues might find the property challenging if it lacks accessibility features. Luxury home buyers or those seeking high-end finishes will likely find this property doesn't meet their expectations.
Demographics
Area Median Income

$55,413

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Risk Assessment

Risk Analysis

The unknown build year poses a significant risk, as it could indicate an older home with potential structural, electrical, or plumbing issues. There's a risk of higher-than-expected renovation costs, especially if major systems need updating. The single bathroom could be a resale liability in the future. Ashland's climate presents risks of basement flooding or foundation issues if proper waterproofing and drainage systems are not in place. The mature trees, while beautiful, could pose a risk of damage to the roof or structure in severe weather. The lack of detailed property information increases the overall risk profile, as there may be undisclosed issues.

Financials

Monthly Costs

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$103,750

-34.7% below list price

Median Price

$100,000

Based on 6 recent sales

Price per Sq.Ft

$83

Comparable Properties

127 Sloan Avenue, Ashland, OH 44805
Price: $163,500
Sq.Ft: 1,146
Beds/Baths: 3/1
$/Sq.Ft:
$14322.0%
Sale Date: 11/8/2024
127 Sloan Avenue, Ashland, OH 44805
Price: $163,500
Sq.Ft: 1,146
Beds/Baths: 3/1
$/Sq.Ft:
$14322.0%
Sale Date: 11/6/2024
1123 Cleveland Ave, Ashland, OH 44805
Price: $89,000
Sq.Ft: 1,350
Beds/Baths: 3/1
$/Sq.Ft:
$6643.6%
Sale Date: 8/13/2024
109 Banning Ave., Ashland, OH 44805
Price: $41,500
Sq.Ft: 1,372
Beds/Baths: 2/1
$/Sq.Ft:
$3074.1%
Sale Date: 8/13/2024
319 E Liberty St, Ashland, OH 44805
Price: $65,000
Sq.Ft: 1,392
Beds/Baths: 3/1
$/Sq.Ft:
$4760.1%
Sale Date: 8/13/2024
108 East Liberty Street, Ashland, OH 44805
Price: $100,000
Sq.Ft: 1,398
Beds/Baths: 3/1
$/Sq.Ft:
$7238.8%
Sale Date: 8/13/2024

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