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283 Old Christian Chapel Rd
New Hill, NC

283 Old Christian Chapel Rd

450K
7 bd • 1 ba • 3,102 sf

This analysis was generated by artificial intelligence on 2/28/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

AI Property Analysis

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List Price

$450,000

Price/Sq.Ft

$145

Year Built

1880

AI Property Analysis

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

The Good

• Historical significance and potential for restoration. • Large 3.3-acre lot with mature trees. • Potential for adaptive reuse as a boarding house, event venue, or unique residence. • Original architectural details that could be preserved and highlighted. • Potential for historical landmark designation could increase property value • Large lot size allows for potential expansion or development • Increasing demand for unique properties with historical significance • School Quality: Schools with a rating of 6/10 may have a neutral to slightly positive impact on property values. Stronger school ratings typically correlate with higher property values. • Our valuation suggests this property could be worth up to $25,000 more than the asking price • Rental Potential: $24,372 estimated annual revenue

The Bad

• Roof replacement (Estimated Cost: $50,000) • Electrical system upgrade (Estimated Cost: $30,000) • Plumbing system upgrade (Estimated Cost: $25,000) • Kitchen and bathroom renovation (Estimated Cost: $40,000) • Exterior painting and repairs (Estimated Cost: $20,000) • Porch repairs and restoration (Estimated Cost: $15,000) • Flooring replacement (Estimated Cost: $10,000) • Septic system inspection and potential repairs (Estimated Cost: $5,000) • Outbuilding repairs or demolition (Estimated Cost: $10,000) • Significant renovation costs associated with historical properties • Limited comparable sales data due to unique property characteristics • Potential restrictions on modifications due to historical preservation guidelines • Safety Concern: Score 5/10 - Crime data is not available in the provided context. A comprehensive crime analysis using local law enforcement data is needed to assess safety.

The Ugly

• Significant structural issues due to age and neglect. • Potential for lead paint and asbestos. • Outdated electrical and plumbing systems. • Roof leaks and water damage. • Presence of mold or mildew. • Single bathroom for 7 bedrooms is inadequate. • Deferred maintenance and extensive renovation required. • Septic system may need replacement or upgrade. • Foundation issues are possible given the age of the property.

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

Rental Property Investors: Potential annual revenue of $24,372 with 95% occupancy rate Value Investors: Projected 44.4% appreciation potential in moderate scenario Renovation-Minded Buyers: Estimated $205,000 in strategic upgrades could significantly increase property value

Not For

Buyers seeking move-in ready properties: Multiple high-priority repairs/renovations needed
Demographics
Area Median Income

$147,590

Property History

Price History
Ownership Timeline
$349,000Cash Purchase
Nov 18, 2020
Ronald I Jones, H Spencer Lyerly IiJames F Dean, Cynthia L Dean
Warranty Deed
Standard Sale (Purchase/Resales)

Property Taxes

$1,332
2023 Tax Assessment
2.5%from previous year
Assessed Value$161,937
Tax Rate0.82%

Market Insights

Real-time analysis of the local housing market

January 2025
Neutral Market

The market in 27562 is currently balanced between buyers and sellers. While prices are stable, it's still important to make competitive offers on homes you're interested in.

$700,000
$246/sqft
6.1%
Change from last month
Your price: $450K (-36%)
Your price/sqft: $145/sqft (-41%)
26
4 sold last month
4.0%
Change from last month
45 days
Average for homes in this area
35.1%
Change from last month
This property: 360 days (+700%)

Sale Price Distribution

Last month
0
Over Asking
homes
0
At Asking
homes
4
Under Asking
homes
Total: 4 homes sold

If you're buying a home in 27562, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Sale Time Distribution

Last month
1
Under 30 Days
homes
3
30-90 Days
homes
0
Over 90 Days
homes
Your property
Total: 4 homes sold

Avg time on Rocket Homes in 27562 has remained consistent over time.

Risk Assessment

Risk Analysis

• Significant renovation costs associated with historical properties • Limited comparable sales data due to unique property characteristics • Potential restrictions on modifications due to historical preservation guidelines • Climate & Insurance: Given the age of the property, potential mitigation costs could arise from updating the structure to meet modern energy efficiency standards or addressing any existing environmental hazards like lead paint or asbestos. • Significant structural issues due to age and neglect. • Potential for lead paint and asbestos. • Outdated electrical and plumbing systems. • Roof leaks and water damage. • Presence of mold or mildew. • Single bathroom for 7 bedrooms is inadequate. • Deferred maintenance and extensive renovation required. • Septic system may need replacement or upgrade. • Foundation issues are possible given the age of the property.
Insurance
Annual Cost

$1,620

$135 per month

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Schools

Moncure Elementary School

Public•Grades K-8
6/5
Elementary
4 mi
Get more information on GreatSchools

Northwood High

Public•Grades 9-12
6/5
High
12.3 mi
Get more information on GreatSchools

Financials

Monthly Costs
Market Rent (7 bed)

$2,031

Get a detailed estimate on Zillow®
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Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Frequently Asked Questions

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