DESCRIPTION OF HOME AND PROPERTY
2-Story 4,237 Square foot* home with 2-story in-law suite, (completely self sufficient, could even rent that side if you wanted to).
Home Built in 1997 and remodeled in 2023
Recently appraised over asking price.
6 bedrooms (all have closets, 3 have bathrooms)
2 Full Bathrooms (sinks, toilet, tub and shower)
2 Bathrooms (sinks, toilet, shower)
1 half bathroom (sink, toilet)
Game Room
3 car built-in garage
Encapsulated Crawlspace
Not in any flood zone
Termite free (inspected annually)
Property taxes approx: $1365*
Handicap accessible ramp in garage entrance. In-law suite has handicap accessible toilet and roll in shower.
Composite Deck
A large, beautiful, relaxing area to enjoy with friends.
Gunite Swimming pool & spa (refinished August 2012)
4 car detached barn / garage / workshop 23.5 x 54* - has power / plugs / lights installed and water connection outside.
Quonset SteelMaster building 16 x 12 x 11* installed on concrete slab with footers. Has power from RV pole, cold/hot water plumbed from house, and 3" floor drains plumbed.
9.76 Acres with portions of established pasture that are cross fenced.
The property is currently two lots 7.76 acres and 2 acres. These lots are currently combined for property tax purposes.
The 2 acres lot contains the largest portion of pasture. This lot is practically ready for a large home. There is power with in a few hundred feet, water from second well already piped over, it has been successfully perked for a septic years ago, and has a paved driveway, etc.
There are three paved driveway entrances with gates in place and two fully paved driveways, the main having electric gate access. The third paved entrance is to a partially rocked road, which is not yet complete.
Property perimeter is completely fenced in with 5 foot chain-link fencing; that's almost 10 acres of perimeter fencing. The pastures are also fenced in with livestock fencing.
In addition, the front of the property is fenced in with a 3 rail white pvc fencing for beauty, endurance and easy maintenance.
All this is secured with an electronic remote operated main gate entrance.
Property owners private road association fee of $100 per lot, annually. Every lot pays $100 annually. This keeps the road status private, not public, and the fund is for the road maintenance .
2 Water Wells with excellent water
Automatic Sprinkler Irrigation system for both the lawn and pastures.
Home Roof Replaced with 50 year architectural shingle 2016
New and expanded Trane XV 20i 5 zone 19.25 Seer Home HVAC system in May 2014
A great place for horses.
36 X 15 Lean-to shelter with 3 divided areas
Quonset SteelMaster building was used as a dairy barn to milk two Jersey cows, but could be converted to office, workshop, apartment, etc.
Large Garden area
Established nature walking / ATV trails in wooded area
An oasis of Privacy.
Green Giant trees were planted on the neighboring sides of the property many years ago. These trees already provide substantial privacy and they will continue to grow.
We also have various fruit producing plants and trees, such as peach, pear, apple, fig, blueberry and strawberries.
There are two Pecan trees, that in years to come should produce many pecans for you.
2.6 miles to Red Bank Arena/
Equine Complex
3.1 miles to Tractor Supply
3.6 miles to Horse Sense Tack and Feed
36
minutes to Ridge Haven Equine Veterinary Service
Location, location, location.
To find a piece of land this large, able to accommodate larger animals, private and not way out in the country, is very, very hard, if not impossible to find.
You are minutes from the best rated schools in the county, shopping and dining.
1.5 mi to Carolina Springs Middle School
2 mi to White Knoll High
5 mi to Interstate 20
9.8 miles to Columbia Metro Airport
Downtown Lexington has been renovated and is a very uniquely quaint area.
You are about 2 hours from coastal beaches or mountain skiing.
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Picture Tour of Home interior
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The layout below the picture will allow you to see where the picture was taken. Just look for the camera icon.
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More Interior Pictures of Home
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Exterior Pictures of Home
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Pictures of Front and Backyard, Pastures, and horses
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Pictures of Detatched Buildings
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Pictures of Trails
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Comparable Home Sales
A look at some sales data for our area
In 2023, less than 1/2 mile from our property, a 2944 sqft home with 1.5 acres sold for $183 a square foot.
In 2019, a neighbor sold a 2-acre wooded lot for $67,500 or $33,750 an acre.
In 2024, a 2-acre lot, just a few miles south of us with only dirt road access sold for $109,000 or $54,500 an acre. That's an increase of around 60% from 2019 to 2024 just for a rough land lot.
If we applied these older figures to this property, we could use $183 per sqft times 4,237 = $775,371 - for the home and 1.5 acres. We would then be left with an additional 8.26 acres to compare sales on just land. Remember, this land can be easily divided again. One of the plots is already cleared and has been perked in the past, so part of this land is what would be considered a ready to build lot. If we are extremely conservative and apply the 2019 price paid per acre for a wooded lot on our road, we would use 8.26 times $33,750 = $278,775 - So for comparable sales using 2019 and 2023 sales data, the grand total market price would be $1,054,146 for this home and property. The market has gone up considerably since 2019 and has certainly not gone down since 2023. The appraisal value proves this to be true.
Appraisal Value
This property was appraised on 7/29/24 and appraised at $1,100,000, with the current market value range being between 1 million and 1.2 million. An appraisal is much more nuanced than just using past comparable sales as I did. The appraiser goes over the home and property in fine detail, as well as the neighborhood, current market conditions, comparable homes that have recently sold, the land value, etc. This value is much more reliable than simply a market comparison value and considers many more variables. We are happy to share the appraisal report with qualified buyers.
Market Value
The reality is that in most cases, the current market will determine the price, not past comparable sales or anything else. Sometimes sellers price things wrong and buyers that are quick get lucky. Sometimes a buyer overpays because it is exactly what they want and they don't care that they paid more than what it was worth. So should we use either of those scenarios to come up with the current market value? I say no. The market will determine the value.
How About online value estimates like Zillow?
I have learned a lot about Zillow. They make their money by matching buyers with realtors. Some realtors pay them for leads. They have many tactics to do this and it makes me have high doubts about the accuracy of a Zestimate. Our home had a Zestimate well below market value before it was listed. I made an account at Zillow and updated all the home facts. The Zestimate would rise and fall from week to week. When I listed our property as for sale by owner, the Zestimate was still well below not only market value, but the listing value. I contacted Zillow to let them know about the remodeling that occurred in 2023 and they said it was included in their estimate already. Funny thing is, as soon as I paid to have the listing on the MLS, the Zestimate shot up to just under the listing price. This happened the moment the listing was active on the MLS. Nothing changed with the details of the home, but the Zestimate sure did. Why? Because a Zestimate is simply a marketing tool that Zillow uses to bring value to their services. Zillow is out to make money and that's great, but they are not upfront about the tactics and manipulation of the Zestimate. Nevertheless, Zillow can not determine the current market value of a home or property, only the market can.
Assessed Tax Value
Tax accessors generally do not come out to properties to make or update assessments, so their assessments are basic and rely on the initial details of the property. Unless each and every improvement to the property is reported to the accessor, they are often missed and not included in updated assessments. Tax assessments are done in order to make sure everyone is paying their fair share of taxes in a county, not to give you a current and accurate market value. If the property you are buying has a low tax to market value, be assured that your neighbor's assessments are going to be lower than the market value as well. It used to be that buyers expected to purchase properties around tax value, but with market values outpacing tax values for years now, this is no longer the case. The point is, tax values almost always do not represent market values.
Cost to Build
The average cost to build a new home like this in 2024 is going to be well over $180 per square foot. No one thinks about the cost of prepping the property, getting power, water, gas, a septic system, the driveway, etc.; they look at the cost to build a home and then are surprised how much more it cost once they realize that building the home is only part of the cost. You might get a cookie cutter home built in a packed subdivision for less, but that's not what we are talking about here.
Make an Offer
We have the suggested price below the appraisal value and we are interested in looking at all offers.
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Buyer Requirements / contact information:
Viewing the property in person:
To view the property in person you will need to contact us and schedule a viewing. Please include your full name, cell phone number, and time-frame that works best for you. Our property is located down a private paved road, completely fenced in and gated.
The property is occupied, so do not plan on dropping in or driving by to see the property without scheduling a visit. If you attempt to do this, you will be considered as trespassing.
Making an official offer:
To make an official offer on the property, you will need to meet the following requirement:
1. You will need to have seen the property in person and also provided proof that you have the finances available to you to purchase the property. This is called Proof of Funds. If this is unfamiliar to you, it is not uncommon in Real Estate, so you can research that term. Proof of Funds helps to save everyone involved a lot of time.
2.
The only way we will accept a "sight unseen" offer is if it is a no
contingency offer. This means that if you would like a home inspection or some other contingency, it would need to be taken care of before we accept a sight unseen offer. If your offer has any contingency, you must see the property in person before we would consider your offer. Too many investment buyers make sight unseen offers just to tie up a property in a contract so that they have more time to make a decision. We will not allow this property to go under contract unless we are certain that the buyer intention is to complete the sale.
Real Estate Agents:
Please let your clients know that we are offering 2.25% towards their closing cost.
Home Inspection:
We are confident that a professional home inspection will find no major issues. We have gone over this property and addressed anything needed as if we would still be living here. We have no issue with
the buyer having a home inspection performed once we have a signed sales contract. We are selling the property as is and do not intend to do any repairs, even minor ones.
Disclaimer:
We would like to impart our knowledge of the property and home to the buyer. The legal process for this is a property disclosure form. My mother has provided a completed property disclosure as required by law and has been forthright with her answers in that disclosure. As is the case with most property sales, we are not providing any warranty or guarantees. It is our responsibility to share our knowledge of the home/property and it is the responsibility of the buyer to do their due diligence and be certain that they are confident in what they are buying. See home inspection above.
* Living square footage of home based on blueprints and tax accessor data, buyer to verify.
* Measurements of detached buildings are approximate, buyer to verify.
* Property tax amount based on 2023, buyer to verify.
The appraisal and property disclosure are available upon request. Please use the contact information below.