Score
0Ashland, OR
704 Elkader St
475K
5 beds
3 baths
2,842 sqft
5 bd • 3 ba • 2,842 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$475,000
Price/Sq.Ft
$167
Year Built
1961
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 5-bed, 3-bath property at 704 Elkader St, Ashland, OR offers exceptional value at $167.14/sqft, which is significantly below the Ashland average of $300-$350/sqft. With 2,842 sqft, it's 30-40% larger than typical homes in the area. The property boasts numerous upgrades, including a new roof in 2022 (est. $15,000-$20,000 value), new exterior paint, and recent interior upgrades. The in-ground pool, dry sauna, and mountain views are premium features rarely found at this price point. Its location "above the Boulevard" is highly desirable, offering proximity to top-rated schools (Walker Elementary 7/10, Ashland Middle 8/10, Ashland High 9/10). The property has appreciated 35.7% since its last sale in 2017 ($350,000 to $475,000), outperforming the Ashland market average of 25-30% for the same period.
The Bad
The property has been on the market for 63 days, which is above the Ashland average of 30-45 days, suggesting possible overpricing or condition issues. The list price has decreased by 26.9% since its initial listing at $650,000 in July 2024, indicating potential market resistance. The home's age (built 1961) may require updates to major systems like plumbing and electrical. The wall/window unit A/C system is less efficient than central air, which is increasingly expected in this price range. The estimated insurance cost of $1,710/year is higher than average, likely due to the pool and fire risk.
The Ugly
The property has a SEVERE fire risk rating (7/10), which is a major concern in Ashland's wildfire-prone area. This high risk could lead to insurance premiums 20-30% above average and may require significant investment in fire prevention measures. The EXTREME air quality risk (10/10) with 33 bad air days per year could impact livability and potentially property value. The frequent price changes (8 adjustments since July 2024) suggest difficulty in accurately valuing the property, which could be a red flag for future appreciation. The combination of a pool and high fire risk could lead to water usage restrictions during dry seasons, impacting the property's key feature.
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 ideal for large families or multi-generational households, given its 5 bedrooms and additional bonus rooms. With a price of $475,000, it's best suited for buyers with household incomes of $120,000+ (based on a 28% front-end DTI ratio). The in-law floorplan makes it perfect for those needing separate living spaces. Investors could potentially convert it to a high-end vacation rental, capitalizing on Ashland's tourism driven by the Oregon Shakespeare Festival. The property's size and amenities make it suitable for buyers downsizing from luxury homes who still want premium features.
Not For
This property is not suitable for first-time homebuyers or those with limited budgets, given the high maintenance costs associated with the pool, large square footage, and potential fire prevention needs. It's not ideal for those seeking a turnkey property, as the age and multiple price reductions suggest potential need for updates or repairs. Buyers with respiratory issues should be cautious due to the extreme air quality risk. Those looking for energy efficiency may be deterred by the lack of central A/C and the home's age.
Demographics
Area Median Income
$63,777
Property History
Price History
Ownership Timeline
$350,000Cash Purchase
May 1, 2017Robert HisamotoDerek Hinger
Warranty Deed
Standard Sale (Purchase/Resales)
$300,000Financed
Oct 1, 2002Bradford Peters, Lois V ConnellRobert D Hisamoto
Warranty Deed
Standard Sale (Purchase/Resales)
$0Financed
Jan 1, 1970John E Connell, Lois V ConnellBradford Peters, Lois V Connell
Intrafamily Transfer
Non-Arm's Length Transactions
Property Taxes
$6,947
2023 Tax Assessment
3.3%from previous year
Assessed Value$436,550
Tax Rate1.59%
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
Middle
8.0/10
ExcellentHigh
9.0/10
ExcellentFinancials
Monthly Costs
Market Rent (5 bed)
Get a detailed estimate on Zillow$950
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$475,000
Price/sqft
$167
Layout
5 bd•3 ba
Days on market
182 daysat time of analysis
Stats in the Area
Based on 3 comparable properties nearby
Average Price
$767,333
38.1%
Your price is 38.1% below average
Median Price
$775,000
38.7%
Based on 3 recent sales
Price per Sq.Ft
$299
44.1%
Your price is 44.1% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 356 Idaho Street, Ashland, OR 97520 | $775,000 | 2,586 | 4 | 3 | $30079.3% | 8/14/2024 |
| 582 Ashland Street, Ashland, OR 97520 | $795,000 | 2,560 | 4 | 4 | $31185.8% | 9/14/2024 |
| 766 Palmer Road, Ashland, OR 97520 | $732,000 | 2,548 | 4 | 4 | $28771.9% | 8/1/2024 |
356 Idaho Street, Ashland, OR 97520
Price: $775,000
Sq.Ft: 2,586
Beds/Baths: 4/3
$/Sq.Ft:
$30079.3%
Sale Date: 8/14/2024
582 Ashland Street, Ashland, OR 97520
Price: $795,000
Sq.Ft: 2,560
Beds/Baths: 4/4
$/Sq.Ft:
$31185.8%
Sale Date: 9/14/2024
766 Palmer Road, Ashland, OR 97520
Price: $732,000
Sq.Ft: 2,548
Beds/Baths: 4/4
$/Sq.Ft:
$28771.9%
Sale Date: 8/1/2024
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