Sales comparison approach using 3 comparable sales within 0.5 miles sold in last 6 months. Adjusted for renovation quality, lot size, and bedroom count. Assessed value of $213,200 appears below market.
Updated 3-Bed Ranch on a Generous 0.31-Acre Oakwood Lot
What first stands out at 1519 3rd St NW is the lot — a level, broadly planted 0.31-acre parcel with 60 feet of frontage that gives this mid-century ranch an unusually spacious yard for an in-town home. The single-story footprint (1,458 SF) keeps daily living easy while the deep lot provides room for garden projects, a play yard, or a future addition. Mature trees and established landscaping frame the property and emphasize the relaxed, neighborhood pace of Oakwood.
Inside, original hardwoods run through most rooms, preserving character while a 2023 kitchen update brings current utility and clean finishes that reduce immediate renovation needs. The living areas feel practical and welcoming: well-proportioned rooms, accessible circulation, and the kind of single-level layout buyers prize for long-term livability. A new HVAC installed in 2022 and central AC paired with forced-air gas heat are notable systems upgrades that lower near-term maintenance risk.
With three bedrooms and one bathroom, the home suits a range of buyers — downsizers who want no-stairs living, first-time buyers seeking a strong neighborhood, or an investor attracted to stable rental demand (comparable rentals in Oakwood average about $1,500/month). A one-car attached garage plus driveway parking make everyday logistics simple, and municipal utilities keep services straightforward.
Location is a defining asset. Oakwood’s village-like streets open onto downtown Hickory in roughly one mile, and Oakwood Elementary sits only about a half-mile away — an easy walk for school-aged children. Lenoir-Rhyne University and Hickory City Park are also nearby, giving residents access to campus events, park fields, walking areas, and community programming. Recent comparable sales in the immediate area support a current value range in the mid-$250s, reflecting steady neighborhood appreciation and a market where solidly updated ranch homes move quickly.
This property offers immediate comfort and tangible upside: systems updated, a sizable lot to personalize, and proximity to schools, parks, and downtown amenities. Buyers should complete standard due diligence — roof assessment and a full inspection are recommended given the home's 1957 construction — but for those seeking an Oakwood address with character and sensible updates, 1519 3rd St NW presents a rare combination of in-town convenience and outdoor space.
See the properties helping shape the valuation.
Comparable sales
- Same living area
- Similar lot size
- Same year built
- 1,012 SF larger
- 1 additional bedroom
- 20,037 SF larger lot
- 57 years older
- Same living area
- Similar lot size
- Same year built
A 1957 ranch on 0.31 acres.
Building
Site & utilities
Oakwood
Researched nearby locations
Location
1519 3rd St NW, Hickory, NC 28601
Oakwood is one of Hickory’s most desirable in-town neighborhoods: tree-lined streets, mid-century homes and a close connection to downtown characterize the area. Families appreciate Oakwood Elementary within walking distance and the quick access to parks, local restaurants, and events in downtown Hickory. Lenoir-Rhyne University adds cultural and community programming nearby, while Hickory City Park provides fields and trails for active residents. The neighborhood strikes a balance between historic charm and practical, everyday convenience.
Very good access to outdoor recreation with Hickory City Park about 0.8 miles away, downtown amenities and sidewalks within a mile, and Lenoir-Rhyne University nearby for community events and green space.
A factual market snapshot around 1519 3rd St NW.
Oakwood and the broader Hickory market are currently balanced with a slight seller advantage driven by low inventory. Local market metrics show roughly 2.5 months of inventory and an average days-on-market near 30 days — conditions that allow competitively priced, well-updated homes to sell quickly. Median sale prices in the area center near $250,000, and the most relevant comps within a half-mile sold between $245K and $280K in the last six months, supporting a mid-$250Ks valuation for a renovated ranch of this size.
Single-family ranches in Oakwood perform consistently well: steady demand from small families, downsizers, and professionals keeps absorption healthy, while rental comparables indicate reliable leasing potential (estimated rent ~ $1,500/month). Appreciation has been steady — roughly 5% year-over-year and about 25% over five years — pointing to durable neighborhood strength. For buyers, the current mix of modest inventory, recent neighborhood appreciation, and the property’s recent systems and kitchen updates make this a compelling entry point. Sellers benefit from the market’s quick turnaround for maintained, updated homes. As always, buyers should verify roof condition and complete a professional inspection before purchase.
Single Family Residential
Zoning
Research-indicated uses
- Single Family
- Accessory Dwelling Unit
- Home Occupation
Assessment data and recorded transactions.
Assessed value is kept visually separate from the CompCasa market-value estimate.
Tax assessment
Sale history
Rental references from the research record.
Context only—not an investment recommendation or guarantee of achievable rent.
Supporting lease references
- Same living area
- Same living area
What the research supports — and what is still worth verifying.
Key findings
- County assessor shows 2015 purchase at $185,000 ($127/SF) — current estimate $262,500 ($180/SF)
- Assessed value $213,200 (land $23,300, improvements $189,900) — annual taxes $1,820
- Zoned R-3 — allows single-family residences and accessory dwelling units
- 3 comparable sales within 0.5 miles in last 6 months range $245K–$280K
- Average days on market in Oakwood: 30 days (balanced market)
Still worth verifying
Routine buyer due diligence items; these are not known defects.
- Confirm lot dimensions and boundaries
- Verify renovation permits were properly pulled
- Confirm zoning restrictions and allowances
- Professional home inspection
- Roof condition assessment
What stands out about this property.
Interior Features
- Hardwood floors throughout
- Updated kitchen (2023)
- New HVAC system (2022)
- Central air conditioning
- Forced-air gas heating
- Single-story ranch layout (1,458 SF)
Exterior & Lot
- 0.31-acre level lot (13,504 SF) with 60 ft frontage
- Mature landscaping and established trees
- 1-car attached garage plus driveway parking
- Asphalt shingle roof (age unknown — inspection recommended)
- Level topography suitable for yard improvements or expansion
Location & Neighborhood
- Oakwood neighborhood — historic character and steady appreciation
- ~0.5 miles to Oakwood Elementary School
- ~1.0 mile to Downtown Hickory dining and retail
- ~1.2 miles to Lenoir-Rhyne University
- ~0.8 miles to Hickory City Park recreational facilities
Walkability & Recreation
- Walkability Rating: 65/100 — Somewhat Walkable
- Nearby parks and green spaces: Hickory City Park (0.8 miles)
- Short walk to downtown Hickory (1.0 mile)
- Campus access: Lenoir-Rhyne University (1.2 miles)
- Neighborhood sidewalks and local streets suitable for daily strolls
- Community recreation facilities at Hickory City Park
Sources & research confidence.
See where the property research came from and how confidence varies by field.