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
For sale
Price cut: $38K (6/15)
$341,999
5088 S Ray Rd, Underwood, IN 47177
3beds
2,523sqft
Single Family Residence
Built in 1989
8.75 Acres Lot
$-- Zestimate®
$136/sqft
$-- HOA
What's special
- 17 days |
- 600 |
- 25 |
Zillow last checked:
Listing updated:
Listed by:
Jay Arora 502-619-3739,
85W Real Estate
Source: Metro Search Inc. LLC DBA Apex MLS,MLS#: 1719532
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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: 8.75 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: $136/sqft
- Tax assessed value: $46,000
- Annual tax amount: $486
- Date on market: 6/4/2026
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 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 |
|---|---|---|
| 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 | -- | $123,200 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: 47177
Getting around
0 / 100
Car-DependentNearby schools
GreatSchools rating
- 5/10Vienna-Finley Elementary SchoolGrades: K-5Distance: 4.1 mi
- 6/10Scottsburg Middle SchoolGrades: 6-8Distance: 5.7 mi
- 5/10Scottsburg Senior High SchoolGrades: 9-12Distance: 5.1 mi
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Indiana
- Scott County
- Underwood
- 47177
- 5088 S Ray Rd
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