Sold for $220,000

$220,000

5088 S Ray Rd, Underwood, IN 47177

3beds

2,523sqft

Single Family Residence

Built in 1989

23.75 Acres Lot

$220,100 Zestimate^®

$87/sqft

$2,056 Estimated rent

Home value

$220,100

Estimated sales range

Not available

$2,056/mo

Zestimate^® history

Owner options

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$1,425/mo

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$1,425/mo

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What's special

If you're looking for privacy, acreage, and endless potential — this is it! Investor special sitting on two parcels totaling 23.7 heavily wooded acres (8.75 acres + 14.95 acres) with scenic views, abundant wildlife, and a pond perfect for fishing right on your own property. This walkout ranch needs TLC but offers incredible opportunity for an investor, hunting retreat, rental property, or private country escape. The home features 2 bedrooms upstairs, 1 bedroom in the finished walkout basement, two wood-burning fireplaces, an attached 2-car garage, and a functional layout with a breakfast bar, bay window dining area, and generous living spaces. Relax on the porch surrounded by mature shade trees and peaceful nature views. Rare chance to own this much land, privacy, and potential all in on

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 3
Bathrooms: 2
Full bathrooms: 2

Primary bedroom

Level: First

Bedroom

Level: First

Bedroom

Level: First

Dining area

Level: First

Family room

Level: First

Kitchen

Level: First

Living room

Level: First

Heating

Other

Features

Basement: Walkout Finished
Has fireplace: No

Interior area

Total structure area: 1,442
Total interior livable area: 2,523 sqft
Finished area above ground: 1,442
Finished area below ground: 1,081

Property

Parking

Total spaces: 1
Parking features: Detached, None
Garage spaces: 1

Features

Stories: 1
Patio & porch: Screened Porch, Deck, Porch

Lot

Size: 23.75 Acres

Details

Parcel number: 721014200024.001001

Construction

Type & style

Home type: SingleFamily
Architectural style: Ranch
Property subtype: Single Family Residence

Materials

Wood Frame, Stone
Foundation: Concrete Perimeter
Roof: Shingle

Condition

Year built: 1989

Utilities & green energy

Sewer: Septic Tank
Water: Public
Utilities for property: Electricity Connected

Community & HOA

Community

Subdivision: None

HOA

Has HOA: No

Location

Region: Underwood

Financial & listing details

Price per square foot: $87/sqft
Tax assessed value: $48,800
Annual tax amount: $487
Date on market: 6/4/2026
Electric utility on property: Yes

Price history

Date	Event	Price
9/4/2026	Sold	$220,000-17%$87/sqft
Source: Metro Search Inc. LLC DBA Apex MLS #1719532 Report a problem
8/17/2026	Price change	$265,000-7%$105/sqft
Source: SIRA #202608788 Report a problem
8/3/2026	Price change	$285,000-5%$113/sqft
Source: SIRA #202608788 Report a problem
7/2/2026	Price change	$299,999-12.3%$119/sqft
Source: Metro Search Inc. LLC DBA Apex MLS #1719532 Report a problem
6/15/2026	Price change	$341,999-10%$136/sqft
Source: SIRA #202608788 Report a problem
6/8/2026	Price change	$379,999-5%$151/sqft
Source: SIRA #202608788 Report a problem
6/2/2026	Listed for sale	$399,999+135.3%$159/sqft
Source: SIRA #202608788 Report a problem
12/23/2011	Sold	$170,000-2.8%$67/sqft
Source: Agent Provided Report a problem
10/7/2011	Price change	$174,900-2.8%$69/sqft
Source: RE/MAX Results (New Albany) #201105546 Report a problem
8/7/2011	Listed for sale	$179,900$71/sqft
Source: RE/MAX Results (New Albany) #201105546 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$487 +0.3%	$48,800 +6.1%
2024	$486 +15.6%	$46,000 -0.4%
2023	$420 +10.6%	$46,200 +1.1%
2022	$380 +4.3%	$45,700 +9.3%
2021	$364 -71.2%	$41,800 +1.7%
2020	$1,265 +2.8%	$41,100 -73.6%
2019	$1,230 -48.2%	$155,500 +3.3%
2018	$2,374 +84.5%	$150,500 +2.6%
2017	$1,287 +13.4%	$146,700 +2.6%
2016	$1,135 -3.5%	$143,000 -1.7%
2014	$1,176 +0.3%	$145,500 +1.3%
2013	$1,173 +10.1%	$143,600 +4.5%
2012	$1,065 -5.6%	$137,400 -3.7%
2011	$1,128 -22.2%	$142,700 -13.9%
2010	$1,449 -7.6%	$165,700 -8.7%
2009	$1,569 -0.2%	$181,500 +4.2%
2007	$1,572 -26.5%	$174,200 +5.1%
2006	$2,140	$165,800 +34.6%
2005	--	$123,200