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3286 Morab Dr
Zionsville, IN

3286 Morab Dr

$345,500
3 bd • 3 ba • 1,883 sf

This analysis was generated by artificial intelligence on 1/26/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$345,500

Price/Sq.Ft

$183

Year Built

AI Property Analysis

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

The Good

• Competitive price per square foot: At $183.48 per square foot, the property appears to be reasonably priced compared to the national average of $220 per square foot for single-family homes (source: National Association of Realtors). This may indicate an opportunity for buyers seeking a more affordable option in Zionsville. • Desirable location in Zionsville: Zionsville is known for its charming village atmosphere, excellent schools, and proximity to Indianapolis. This location is a major attraction for many homebuyers, which can lead to long term appreciation. • Good size for a family: With 3 bedrooms and 3 bathrooms, the property offers a comfortable amount of space for a growing family. The square footage of 1,883 is above the national average of 1,600 sqft for new single-family homes. • Active status suggests availability: The 'active' status of the listing suggests that the property is still available for sale, providing an opportunity for potential buyers to schedule a viewing and make an offer.

The Bad

• Lack of detailed property information: The listing provides minimal details about the property's features, age, and condition. This makes it difficult for potential buyers to assess its value and suitability. • Potential for high property taxes: Zionsville's location in Boone County means higher property taxes compared to some surrounding areas. This adds to the overall cost of homeownership and should be carefully considered. • Unknown septic system: Many homes in Zionsville use septic systems, which can incur significant maintenance and replacement costs. The lack of information about the property's septic system is a potential risk for buyers. • Unknown water source: The property's water source (well or city) is not specified. Well water requires regular testing and potential investment in water treatment systems. Lack of clarity is a negative for potential buyers. • No information about HOA fees: If the property is part of an HOA, the associated fees and restrictions are not mentioned. This is a critical piece of information that buyers need to factor into their budget and lifestyle.

The Ugly

• Potential for hidden maintenance costs: The lack of detailed property information could indicate potential maintenance issues that are not immediately apparent. The age of the property is unknown, which is a major concern for potential buyers as older homes may have hidden problems with plumbing, electrical, or the foundation. • Shared wall concerns: The townhouse style means the property likely shares walls with neighboring units, potentially leading to noise issues and a lack of privacy. This can be a significant disadvantage for some buyers. • Risk of unexpected septic system costs: If the property has a septic system, the lack of inspection information could lead to significant unexpected costs for maintenance or replacement. Septic systems typically need to be pumped every 3-5 years, costing $300-$500 each time, and a full replacement can cost $5,000-$20,000. • Potential for hidden well water costs: If the property uses well water, potential issues can result in costs for water testing and filtration systems. Regular water testing can cost $100-$300 per test, and a water softener system can be an upfront cost of $1,000 - $3,000. • Unknown HOA terms: The lack of information about HOA fees and regulations could lead to unexpected costs and restrictions that may not align with a buyer's preferences. HOA fees in Zionsville can range from $100-$500+ per month, depending on the amenities and services provided.

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

• First-time homebuyers seeking a low-maintenance property in a desirable school district. The property's townhouse style and lack of listed features suggests a relatively straightforward ownership experience, suitable for those new to homeownership. • Families with children who prioritize access to Zionsville Community Schools. The area's reputation for excellent schools is a major draw, making this property appealing to families with school-aged children. • Buyers who value a suburban lifestyle with proximity to Indianapolis. The location provides a balance of a quiet, village atmosphere and access to the amenities of a major city. • Individuals or couples who prefer modern construction and a move-in ready home. Given the lack of specified renovations or custom features, this suggests a newer build in good condition, appealing to buyers seeking minimal upkeep.

Not For

• Buyers seeking a large, single-family home with a substantial yard. The property's townhouse style suggests a smaller lot and less privacy than a traditional detached house. • Buyers with limited budgets or who are risk-averse. Zionsville's high property taxes, potential septic/well issues, and competitive market make this property unsuitable for those with tight financial constraints. • Homebuyers who require a significant amount of customization or renovation. The lack of detailed property features suggests a more standard, builder-grade home, which may not appeal to those with specific design preferences. • Buyers seeking a rural or secluded setting. The property's location in Zionsville, while offering a village atmosphere, is still relatively suburban and lacks the privacy of a more rural area.
Demographics
Area Median Income

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Risk Assessment

Risk Analysis

• Septic system issues: Many homes in Zionsville use septic systems which require regular maintenance and eventual replacement, costing anywhere from $5,000-$20,000. A thorough inspection is crucial to avoid unexpected costs. • Well water concerns: Properties using well water need regular testing and could require additional water treatment systems. Water quality issues can lead to additional expenses for filtration and maintenance. The cost of a new well can be $10,000 or more. • High property taxes: Zionsville's property taxes can be higher than surrounding areas. These taxes can significantly increase the monthly cost of homeownership. • Competitive market: Zionsville's popularity can lead to bidding wars, potentially driving the final purchase price above the listing price. This can be a risk for buyers who are on a budget or who are not comfortable with aggressive negotiation tactics. • Unknown age and condition: Lack of details about the property's age and condition makes it difficult to assess potential maintenance needs. This may lead to unforeseen expenses in the near future. • Limited property features: The absence of specific features in the listing suggests a standard builder-grade home. This may not offer the same level of amenities or customization as other properties in the area. This may also lead to a lower appreciation rate compared to other properties in the long term.

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