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388 Ballytore Cir
Wynnewood, PA

388 Ballytore Cir

$775,000
4 bd • 4 ba • 2,255 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

$775,000

Price/Sq.Ft

$344

Year Built

1976

AI Property Analysis

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

The Good

This 4-bedroom, 2.5-bathroom colonial in Wynnewood offers exceptional value at $343.68/sqft, which is approximately 15% below the area's average of $400-$450/sqft for similar properties. The 2,255 sqft layout is spacious and above the local average of about 2,000 sqft for comparable homes. Its location at the end of a secluded cul-de-sac on a premium lot adds significant value, estimated at a 10-15% premium over similar homes in less desirable locations. The property's proximity to the train station (5-minute walk) and Whole Foods enhances its appeal and potential for appreciation. The home is part of the highly-rated Lower Merion School District, with nearby schools scoring 7-10/10, which typically adds a 5-10% premium to property values. Climate risk scores are favorable, with minimal flood (1/10) and fire (1/10) risks, potentially leading to lower insurance costs.

The Bad

The property, built in 1976, is showing its age and likely requires significant updates. Based on the listing description encouraging buyers to "bring your ideas," we can estimate renovation costs between $100,000 to $200,000 to modernize the home fully. The current condition may make it challenging to secure traditional financing, potentially limiting the buyer pool. The rapid price increase from $575,000 in May 2024 to the current listing of $775,000 (a 34.8% jump) may be overly optimistic given the home's condition and could lead to a longer time on market. The estimated insurance cost of $2,790/year is about 15-20% higher than average for the area, likely due to the home's age and condition.

The Ugly

The property faces significant climate-related risks, particularly with MAJOR heat (6/10) and wind (6/10) risks. These high scores could lead to increased insurance premiums and potential damage costs. The wind risk is especially concerning, as insurance is marked as CRITICAL. This could result in annual insurance premiums 25-40% higher than average and may require additional wind mitigation measures, costing $10,000-$20,000. The home's age (47 years) suggests imminent major system replacements, including HVAC ($10,000-$15,000), roof ($15,000-$25,000), and potentially plumbing and electrical systems ($20,000-$30,000). The lack of recent sales history and the substantial price increase (34.8%) in less than a year raise concerns about potential overvaluation, which could lead to appraisal issues and financing challenges.

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 $200,000+ annually, considering the $775,000 price tag and potential renovation costs. It's ideal for families prioritizing excellent schools and a suburban lifestyle, as evidenced by the top-rated Lower Merion School District. The home would appeal to those comfortable with a fixer-upper, having a renovation budget of $100,000-$200,000, and the vision to customize their dream home. Commuters to Center City Philadelphia will appreciate the 5-minute walk to the train station. The property could also attract investors looking for long-term appreciation in a prime location, with potential rental income of $2,870/month for a 4-bedroom home in the area.

Not For

This property is not suitable for first-time homebuyers or those with limited budgets due to the high purchase price and necessary renovations. Buyers seeking a move-in ready home should look elsewhere, as significant updates are likely required. The property may not be ideal for those sensitive to climate risks, particularly heat and wind, given the high risk scores. Investors looking for immediate rental income might find the necessary renovations and high purchase price challenging for achieving positive cash flow in the short term. The home may also not suit those with mobility issues, as the colonial style typically involves multiple floors without mentioning any accessibility features.
Demographics
Area Median Income

$149,830

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Risk Assessment

Climate Risks

heatMAJOR

7 extreme heat days per year

98th percentile: 103°F

windMAJOR

Insurance: Required

airMODERATE

3 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

The major wind risk (6/10) could lead to increased insurance costs and potential property damage. Estimated additional wind mitigation costs could range from $10,000-$20,000. The significant heat risk (6/10) may necessitate HVAC upgrades or increased cooling costs during summer months. The rapid price increase of 34.8% in less than a year raises concerns about potential market volatility and overvaluation, which could impact future appreciation. Given the home's age, there's a high risk of major system failures in the near future, with potential costs exceeding $50,000 for comprehensive updates. The need for extensive renovations could uncover hidden issues like asbestos, lead paint, or structural problems, potentially adding $20,000-$50,000 to renovation costs. The higher-than-average insurance costs suggest potential underlying risks not immediately apparent from the provided information.
Insurance
Annual Cost

$2,790

$233 per month

Financials

Monthly Costs
Market Rent (4 bed)

$2,870

Get a detailed rental estimate on Zillow®

Price History

Property Taxes

$14,028
2023 Tax Assessment
4.9%from previous year
Assessed Value$340,390
Tax Rate4.12%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$773,667

-0.2% below list price

Median Price

$806,000

Based on 6 recent sales

Price per Sq.Ft

$335

Comparable Properties

6904 CITY AVE, PHILADELPHIA, PA 19151
Price: $425,000
Sq.Ft: 1,890
Beds/Baths: 3/4
$/Sq.Ft:
$22534.6%
Sale Date: 10/15/2024
1350 OVERBROOK RD, WYNNEWOOD, PA 19096
Price: $940,000
Sq.Ft: 2,528
Beds/Baths: 4/4
$/Sq.Ft:
$3728.2%
Sale Date: 8/22/2024
600 ARGYLE CIR, WYNNEWOOD, PA 19096
Price: $1,075,000
Sq.Ft: 2,631
Beds/Baths: 4/4
$/Sq.Ft:
$40918.9%
Sale Date: 8/30/2024
864 BEECHWOOD RD, LOWER MERION, PA 19083
Price: $621,000
Sq.Ft: 2,124
Beds/Baths: 4/3
$/Sq.Ft:
$29214.9%
Sale Date: 12/1/2024
403 N NARBERTH AVE, NARBERTH, PA 19072
Price: $806,000
Sq.Ft: 2,254
Beds/Baths: 4/3
$/Sq.Ft:
$3584.0%
Sale Date: 11/2/2024
930 REMINGTON RD, WYNNEWOOD, PA 19096
Price: $775,000
Sq.Ft: 2,198
Beds/Baths: 3/3
$/Sq.Ft:
$3532.6%
Sale Date: 10/24/2024

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