In real estate investing, proximity to a major natural attraction is one of the strongest drivers of long-term appreciation and short-term rental revenue. Today, we are looking at a property that perfectly captures the “Halo Effect” of one of Ohio’s most desirable outdoor destinations.
Located at 35961 Kelly Rd, Ray, OH 45672, this 18-acre wooded estate is situated just 20 miles from the legendary Hocking Hills. Priced at a highly accessible $290,000, this property is not just a single-family home; it is a sprawling nature retreat featuring its own private waterfalls, caves, and substantial outbuildings. Let’s break down why this 1978 Ranch-style home is a dream scenario for a “sweat equity” investor looking to create a premier short-term rental or a completely secluded off-grid lifestyle.
Property Highlights at a Glance
- Listing Price: $290,000 ($211/sqft)
- Primary Livable Area: 1,377 Sq. Ft. (3 Bedrooms / 1.5 Bathrooms)
- Lot Size: 18.0 Acres (Owning both sides of the road for guaranteed privacy)
- Year Built: 1978 (Single-owner home, well maintained)
- Additional Infrastructure: 4 detached garages totaling approximately 2,200 sq. ft.
- Major Upgrades: New roof and gutters installed within the last few years
- Utilities: Private well, septic system, and High-Speed Spectrum Internet connected
The Ultimate Nature Lover’s Canvas
When evaluating rural properties, the land itself often holds more intrinsic value than the primary structure. This 18-acre parcel is an outdoorsman’s absolute delight. The topography features dense, mature woodlands rolling over a quiet hillside, ensuring you will never have front-facing neighbors.
But the true unique selling propositions (USPs) of this land are its natural features. Hidden within the woods is a stunning 15-to-20-foot waterfall and small, explorable caves. A peaceful creek runs parallel to the road, providing constant serene acoustics. For an investor looking to build a high-end Airbnb portfolio, you don’t even need to market the proximity to Hocking Hills; you can market the private waterfalls right in your own backyard.
Sweat Equity & Structural Advantages
The primary residence is a classic 1978 Ranch offering 1,377 square feet of functional single-story living space. While the interior currently features original 1970s aesthetics—including wall-to-wall carpeting and vintage wood paneling—the structural “bones” are heavily secured.
The seller has recently invested in significant Capital Expenditures (CapEx), including a new metal roof and gutters. A savvy buyer can pull up the old carpets, modernize the kitchen and bathrooms, and instantly force a massive amount of equity into the property.
Furthermore, the property includes an astonishing 2,200 square feet of detached garage space spread across four separate outbuildings. For a homesteader, this is the perfect space for equipment storage or a massive workshop. For an investor, these outbuildings represent potential conversion opportunities for additional living quarters or game rooms.
The Remote Work & Rental Advantage
One of the biggest hurdles when buying deep rural acreage is the lack of modern connectivity. This Ray, Ohio property completely bypasses that issue by already having High-Speed Spectrum Internet and phone access installed. This single utility transforms the property from an isolated cabin into a highly viable “Remote Work Retreat,” allowing you to attract premium renters who want to escape the city but still need to log into Zoom on Monday morning.
The Verdict
Priced under $300K, the estate at 35961 Kelly Rd is a masterclass in raw potential. Finding 18 acres of Ohio land featuring private waterfalls, functional infrastructure, and high-speed internet—all within a 20-mile radius of Hocking Hills—is exceedingly rare. Whether you are looking to execute a cosmetic Fix-and-Flip, establish a lucrative short-term rental, or simply secure your own private slice of nature, this property is a rock-solid investment.
Listed on Zillow