INVESTimate
$42,830
Financial Details1471 Norway Rd PROPERTY INFO
FACTS
- Built In 1993
- Price/Sqft : $60.82
CONSTRUCTION
- Beds : 3
- Floor Size : 1,944 sqft
- Baths : 2 Full
PROPERTY DESCRIPTION
1471 Norway Rd, Lowman, NY 14861 is a single family home of 1,944 sqft. HomeUnion estimate for 1471 Norway Rd includes a Price Estimate of $118,225 and a Rent Estimate of $1,714. This single family home has 3 bedrooms, 2 bathrooms, and was built in 1993. This property has an estimated 15 year annualized Yield of 17.40% and Total Return of 39.20%. The estimated 1 year forecast in home value for 1471 Norway Rd is 6.62%.OTHER REAL ESTATE INVESTMENT PROPERTIES
The following properties with Estimated Highest Gross Yields are available in other markets.
1471 Norway Rd SCHOOLS
Financial Details
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LOWMAN
Neighborhood : LOWMAN
DISTRIBUTION OF RENTS IN NEIGHBORHOOD
Approximately 68% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,714 per month.
MY RENT : $1,714 MEDIAN RENT : $1,605
Household Rent Affordability
According to U.S. Department of Housing and Urban Development, families that use more than 30% of their income to pay for housing are considered cost burdened. A target rent of $1,714 would therefore be considered affordable for annual household incomes greater than $68,560 (12 months x 3.333 x $1,714).
HOUSEHOLD INCOME RANGE
Approximately 196 of households in this neighborhood have a total annual income of $68,560 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,714 per month.
MINIMUM INCOME RANGE : $68,560
COMMUTE TIME DISTRIBUTION
65% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.
LOWMAN Demographics
INDUSTRY
| Industry | % Distribution |
|---|---|
| Arts & Entertainment | 8.3% |
| Construction | 9.2% |
| Health Care & Social Assistance | 18.8% |
| Manufacturing | 13.8% |
| Public Administration | 9.5% |
| Retail & Wholesale Trader | 12.2% |
| Other | 28.3% |
AGE DISTRIBUTION
54% of the population is between the ages of 25 and 64, 26% is 24 or younger and 21% is 65 or older.
| Age | % Distribution |
|---|---|
| <15 | 15.0% |
| 15-19 | 6.1% |
| 20-24 | 4.7% |
| 25-44 | 19.5% |
| 45-65 | 34.0% |
| 66+ | 20.7% |
OCCUPATION
| Occupation | % Distribution |
|---|---|
| Healthcare | 9.8% |
| Management, Business, & Financial | 14.2% |
| Natural Resources Maintenance | 12.1% |
| Production & Transportation | 17.8% |
| Sales & Office | 17.9% |
| Social | 5.9% |
| Other | 22.4% |
HIGHEST EDUCATION LEVEL
18% of adults 25 and older have an education level of a bachelor's degree or higher.
| Education Level | % Distribution |
|---|---|
| Associates Degree | 11.9% |
| High School | 46.5% |
| Masters Degree | 4.9% |
| Some College | 17.8% |
| Some High School | 7.5% |
| Other | 11.4% |
1471 Norway Rd Comps
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