Score
0Martinsville, VA
485 Shady Grove Rd
650K
4 beds
3 baths
2,944 sqft
4 bd • 3 ba • 2,944 sf
This analysis was generated on 2/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
AI Property Analysis
0:000:00 / 0:00
List Price
$649,900
Price/Sq.Ft
$221
Year Built
1998
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Large lot size: The 22-acre lot provides ample space and privacy, which is a significant selling point. Land values in Martinsville range from $5,000 to $20,000 per acre, suggesting a substantial portion of the property's value is in the land itself.
• Stocked pond: A stocked pond adds recreational value and aesthetic appeal to the property. The cost of stocking a pond can range from $500 to $2,000, depending on the size and type of fish.
• Detached garage with electricity: The detached garage offers ample space for parking, storage, or a workshop. A garage of this size could cost $20,000 to $40,000 to build new.
• Open concept kitchen and cathedral ceilings: These features create a spacious and inviting atmosphere in the home. Open concept kitchens are a popular design trend, and cathedral ceilings add architectural interest.
• Proximity to Snow Creek Elementary School: The elementary school has a rating of 6/10, which is above average for the area. It is also relatively close at 3.5 miles away. The property is located in the heart of the amazing community of Snow Creek, implying a strong sense of community.
The Bad
• 'As Is' condition: The property is being sold 'As Is,' which means the seller is unlikely to make any repairs. This places the burden of identifying and addressing any issues on the buyer.
• Unfinished basement: While offering potential, the unfinished basement requires a significant investment to complete, adding to the overall cost of the property. The listing mentions 'tall ceilings', confirming its potential but also the work needed.
• School ratings: The local high school has a rating of 3/10, which may be a concern for families with school-aged children. The middle school isn't much better at 5/10.
• Reliance on well/septic (assumed): Properties in rural areas often rely on well and septic systems, which require regular maintenance and potential repairs. The listing does not explicitly state the presence of a well or septic system, and the property may be connected to public water and sewer lines, which would be an advantage. This should be verified.
• Photo Enhancements: The listing states that one or more photos have been digitally enhanced. This means the actual appearance of the property may differ from the photos.
The Ugly
• Potential for hidden repairs: 'As Is' sales often conceal underlying issues that can be expensive to fix. Given the home was built in 1998, systems like HVAC, plumbing, and electrical could be nearing the end of their lifespan.
• High total cost of ownership: Factoring in the mortgage, insurance, potential repairs, and finishing the basement, the total cost of ownership could be substantial. Assuming a 20% down payment and a 7% interest rate, the monthly mortgage payment would be approximately $3,450. Adding the estimated insurance of $195 per month brings the total to $3,645, excluding property taxes and potential repair costs.
• Distance to amenities: The rural location may require significant travel time to access shopping, dining, and other amenities. The middle school is 15.3 miles away and the high school is 14.3 miles away. The location is close to the heart of the amazing community of Snow Creek, but that is not the same as being close to amenities.
• Moderate Climate Risks: While flood risk is minimal, the moderate fire, heat, and wind risks could lead to increased insurance costs and potential property damage. The 98th percentile temperature of 100°F and 7 hot days per year may require significant air conditioning during the summer months.
• Potential for Well/Septic Issues: If the property relies on a well and septic system, there is the potential for costly repairs or replacements. Well pumps can cost $1,000-$3,000 to replace, and septic systems can cost $5,000-$15,000 to replace.
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
• Buyers seeking privacy and acreage: The 22-acre lot provides ample space and seclusion, appealing to those who value privacy and a rural setting.
• Buyers who enjoy outdoor activities: The stocked pond, pasture, and potential timberland offer opportunities for fishing, livestock, or recreational activities.
• Buyers looking for a home with potential for customization: The unfinished basement provides a blank canvas for creating additional living space or pursuing hobbies.
• Buyers prioritizing a split bedroom floor plan: The layout offers privacy, with the primary suite separated from the additional bedrooms.
• Buyers who require a detached garage with electricity: The garage provides space for parking, storage, or a workshop.
Not For
• Buyers seeking a move-in ready home with all amenities: The 'As Is' condition and unfinished basement may require immediate repairs or renovations.
• Buyers who prefer urban living: The rural location and acreage may not appeal to those seeking proximity to city amenities and services.
• Buyers on a strict budget: Potential repair costs, higher insurance costs and the cost of finishing the basement may strain a limited budget.
• Buyers requiring proximity to top-rated schools: The local high school has a rating of 3/10, which may be a concern for families prioritizing education.
• Buyers uncomfortable with well or septic systems: While not explicitly stated, properties in rural areas often rely on well and septic systems, which require maintenance and potential repairs.
Demographics
Area Median Income
$40,603
Property History
Price History
Ownership Timeline
Property Taxes
$1,733
2024 Tax Assessment
3.6%from previous year
Assessed Value$403,100
Tax Rate0.43%
Sunlight Analysis
Visualize how sunlight affects this property throughout the day and year.
Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
6.0/10
GoodMiddle
5.0/10
AverageHigh
3.0/10
Below AverageFinancials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$681
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