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For sale
    • Price cut: $15K (8/3)
    $285,000

    5088 S Ray Rd, Underwood, IN 47177

    3beds
    2,523sqft
    : 
    $1,857/mo
    Get pre-qualified
    Single Family Residence
    Built in 1989
    23.75 Acres Lot
    $-- Zestimate®
    $113/sqft
    $-- HOA

    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
    63 days
    |
    2,340
    |
    110
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Jay Arora 502-619-3739,

    85W Real Estate

    Source: Metro Search Inc. LLC DBA Apex MLS,MLS#: 1719532MLS Logo

      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: $113/sqft
      • Tax assessed value: $48,800
      • Annual tax amount: $487
      • 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

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

        Public tax history

        YearProperty taxesTax 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
        Find assessor info on the county website

        Monthly payment

        Est. payment

        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.
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        Climate risks

        Neighborhood: 47177

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