Score
0Bloomington, IN
6911 S Ketcham Rd
21K
bd • ba • sf
This analysis was generated on 2/7/2025. 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
$20,700
Price/Sq.Ft
$20,700
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• Low Asking Price: At $20,700, the property is significantly below the median home price in Bloomington, presenting a potential opportunity for a value investment.
• Large Lot Potential: Based on the image, the property appears to have a sizable lot, offering possibilities for expansion, landscaping, or other outdoor amenities, subject to local zoning regulations.
• Location in Bloomington: Bloomington offers a desirable living environment with access to Indiana University, cultural attractions, and recreational opportunities. The median income is $60,024.
• Rental Income Potential: Bloomington's rental market shows potential for generating income, with studio apartments averaging $817, one-bedroom apartments averaging $957, and two-bedroom apartments averaging $1124 per month.
The Bad
• Lack of Information: The absence of basic property details (bedrooms, bathrooms, square footage, year built) makes it difficult to assess its true value and potential.
• Unknown Condition: Without a property description or room details, the condition of the house is completely unknown. It could require extensive repairs or renovations.
• Missing Utilities Information: The lack of information on utilities and systems raises concerns about their functionality and potential replacement costs.
• Potentially High Renovation Costs: Given the unknowns, the property may require significant investment to bring it up to livable standards.
• Unclear Market Value: Without square footage and other details, it is difficult to determine if the asking price is reasonable for the location and potential.
The Ugly
• Significant Unknowns: The lack of property details creates a high degree of uncertainty and risk. The property could be uninhabitable or require extensive repairs.
• Potential Code Violations: Without knowing the age or condition of the property, it is difficult to determine if it meets current building codes. Remediation of code violations could be costly.
• Environmental Concerns: Older homes may contain hazardous materials like asbestos or lead paint, which require professional remediation.
• Hidden Structural Issues: The property could have hidden structural problems, such as foundation cracks, water damage, or termite infestation, which could be expensive to repair.
• Financing Challenges: Securing financing for a property in such unknown condition may be difficult. Lenders may require extensive inspections and appraisals.
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
• Investors seeking deeply discounted properties: The low listing price of $20,700 presents a potential opportunity for significant returns, assuming the property can be acquired and renovated cost-effectively.
• Buyers with extensive renovation experience and resources: Given the lack of information and potential condition issues, this property is best suited for those prepared to handle a complete overhaul.
• Individuals interested in land value and potential redevelopment: The large lot size, as suggested by the image, might be the primary asset, appealing to those looking to build or develop on the land, contingent upon zoning regulations.
• Buyers comfortable with significant uncertainty and risk: The limited data and unknown property condition necessitates a high-risk tolerance and the ability to manage unforeseen challenges.
Not For
• First-time homebuyers: The high level of uncertainty and potential renovation requirements make this property unsuitable for those without prior real estate experience.
• Buyers seeking a move-in-ready home: This property likely requires extensive repairs and renovations, making it unsuitable for those needing immediate occupancy.
• Individuals with limited financial resources: The potential for significant renovation costs and unforeseen expenses makes this property a risky investment for those with tight budgets.
• Risk-averse buyers: The lack of information and potential for hidden issues make this property unsuitable for those who prefer low-risk investments.
Demographics
Area Median Income
$60,024
Property History
Price History
Ownership Timeline
$0Cash Purchase
Mar 13, 2024Estate Of Linda J Hobbs, Linda HobbsMelinda J Roshel
Affidavit Of Death
Non-Arm's Length Transactions
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (0 bed)
Get a detailed estimate on Zillow$817
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