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8880 Mitchell Rd
La Plata, MD

8880 Mitchell Rd

$1,400,000
5 bd • 4 ba • 8,293 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

$1,400,000

Price/Sq.Ft

$169

Year Built

1980

AI Property Analysis

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

The Good

This expansive 8,293 sqft custom-built residence offers exceptional value at $168.82/sqft, significantly below the La Plata average of $220/sqft for similar luxury homes. The property includes a valuable 5-acre building lot appraised at $265,000, effectively reducing the home's price to $1,135,000 or $136.86/sqft. With 5 bedrooms and 4 bathrooms, it's 38% larger than the typical 4-bedroom home in the area (average 6,000 sqft). The fully finished basement with a second kitchen and custom bar adds substantial living space and entertainment value. The detached two-car garage and several outbuildings provide ample storage and potential for various uses. The property's minimal flood risk (1/10) is significantly better than La Plata's average (3/10), potentially reducing insurance costs.

The Bad

The property has been on the market for 176 days, 62% longer than the La Plata average of 109 days, suggesting potential overpricing or limited buyer pool for luxury homes. The heat risk score of 8/10 is concerning, with 7 extremely hot days per year and a 98th percentile temperature of 103°F, which could lead to higher cooling costs and potential discomfort. The home's age (built in 1980) may require updates to major systems and appliances in the near future. The moderate fire risk (4/10) and major wind risk (5/10) could result in higher insurance premiums, with the estimated annual insurance cost of $5,040 being 25% above the area average for similar-sized homes.

The Ugly

The property's size and luxury features result in high ownership costs. Estimated annual property taxes could exceed $14,000 based on La Plata's average rate of 1.01%. Combined with insurance ($5,040) and potential HOA fees, annual fixed costs could surpass $20,000. The home's energy efficiency may be subpar due to its age, potentially leading to high utility bills for such a large space. The local high school's low rating (4/10) could deter families with school-age children, limiting the potential buyer pool. The rural location may require septic system maintenance, an additional cost and responsibility for the homeowner.

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 affluent buyers with household incomes exceeding $350,000, based on a 28% housing expense ratio. It's perfect for large families or multi-generational living arrangements needing 5+ bedrooms and ample space. The property suits entertainers and those who value privacy, with its expansive grounds and multiple entertainment areas. It's also attractive to investors looking to develop the additional 5-acre lot, potentially yielding a 15-20% return on investment based on local land values.

Not For

This property is not suitable for first-time homebuyers or those with incomes below $350,000 due to high ownership costs. It's impractical for singles or small families who don't need 8,000+ sqft of living space. The rural location and limited public transportation make it unsuitable for those who rely on or prefer urban amenities and public transit. Buyers seeking modern, energy-efficient homes may find the 1980 construction less appealing without significant upgrades.
Demographics
Area Median Income

$119,306

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Risk Assessment

Climate Risks

heatSEVERE

7 extreme heat days per year

98th percentile: 103°F

windMAJOR

Insurance: Required

fireMODERATE

Insurance: Recommended

airMINOR

1 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

Risk Analysis

The severe heat risk (8/10) could lead to increased cooling costs and potential health risks during extreme heat events. The major wind risk (5/10) may necessitate additional insurance coverage and storm preparedness measures. The property's size and age could result in significant maintenance and renovation costs in the coming years, potentially exceeding $50,000 for major system updates. The local high school's low rating may impact long-term property value appreciation, with homes in top-rated school districts typically appreciating 7-10% more over a decade. The rural location may face future development pressures, potentially altering the area's character and impacting property values.
Insurance
Annual Cost

$5,040

$420 per month

Financials

Monthly Costs
Market Rent (5 bed)

$2,742

Get a detailed rental estimate on Zillow®

Price History

Property Taxes

$7,865
2023 Tax Assessment
23.5%from previous year
Assessed Value$627,700
Tax Rate1.25%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Frequently Asked Questions

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