5088 S Ray Rd Underwood, IN $ 341,999
5088 S Ray Rd
$ 341,999
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5088 S Ray Rd

Underwood, IN, 47177
$ 341,999
Bedrooms3 Baths2.0 Sq 2,523

Monthly Estimate*

$ 2,159

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Single Family Home for sale in Underwood, IN

for $341,999 with 3 bedrooms and 2 full baths. This 2,523 square foot home was built in 1989 on a lot size of 23.75.

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

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Single Family Active

Price

$ 341,999

Bedrooms

3

Full Bath

2

Property Type

Single Family

Taxes

$ 0

Style

Ranch

Lot Size

23.75

Year Built

1989

Town/City

Underwood

County/Region

Scott

MLS | Web ID

1719532

Features
General
Heating Other
Utilities Electricity Connected
Roof Shingle
HOA Fee 0
Garage Spaces 1
Architectural Style Ranch
Construction Materials Wood Frame Stone
Year Built 1989
Stories Count 1
Property Subtype Single Family Residence
County Scott
Property Type Residential
HOA false
Attached Garage false
Subdivision Name NONE
Garage Y/N true
Total Rooms 7
Full Baths 2
Status Active
Directions Get on I-264 W Continue on I-264 W. Take I-65 N to IN-160 E in Henryville. Take exit 19 from I-65 N Take US-31 N and County Line Rd W to S Ray Rd in Finley Township 5088 S Ray Rd Underwood IN 47177
City Underwood
MLS Area 13-Indiana
Lot Size Units Acres
Lot Size Square Feet 381150
MLS Area Minor 13-Indiana
Standard Status Active
Tax Lot 0000
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Interior
Basement Walkout Finished
Total Fireplaces 0
Heating Y/N true
Fireplace Y/N false
Above Grade Finished Area 1442
Half Baths 0
Total Bedrooms 3
Below Grade Finished Area 1081
Total Baths 2
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Exterior
Parking Features Detached None
Water Source Public
Lot Size Area 23.75
Foundation Details Poured Concrete
Building Area Total 1442
Lot Size Acres 23.75
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* Excluded Features
List By
85W Real Estate

Broker

Jay@85wrealestate.com

Email

Affordability Calculator

$2,159
Per Month
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Monthly Principal & Interest
$2,159
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Default based on a 30-year fixed rate of 6.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
0 Elementary School
0 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
6/18/2026$341,999 -10.00% Price Down
6/10/2026$379,999 -5.00% Price Down
6/4/2026$399,999 Listed Price

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5088 S Ray Rd, Underwood, IN, 47177 is a Single Family Home for sale at $341,999 with 2,523 sqft and a lot size of 23.75. 5088 S Ray Rd has 3 bedrooms, 2.0 baths, and was built in 1989. The property's zip code is 47177 which is in Underwood, IN