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1501 Grove Ave PROPERTY INFO
FACTS
- Built In 1962
- Price/Sqft : $94.23
CONSTRUCTION
- Beds : 0
- Floor Size : 1,495 sqft
- Baths : 3 Full
1501 Grove Ave SCHOOLS
Financial Details
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Washburn Park
Neighborhood : Washburn Park
DISTRIBUTION OF RENTS IN NEIGHBORHOOD
Approximately 13% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,433 per month.
MY RENT : $1,433 MEDIAN RENT : $1,156
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 $1,433 would therefore be considered affordable for annual household incomes greater than $57,320 (12 months x 3.333 x $1,433).
HOUSEHOLD INCOME RANGE
Approximately 232 of households in this neighborhood have a total annual income of $57,320 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,433 per month.
MINIMUM INCOME RANGE : $57,320
COMMUTE TIME DISTRIBUTION
59% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 16% has a commute time of 45 minutes or longer.
Washburn Park Demographics
INDUSTRY
| Industry | % Distribution |
|---|---|
| Administrative Support | 11.3% |
| Arts & Entertainment | 16.9% |
| Construction | 9.9% |
| Health Care & Social Assistance | 11.8% |
| Manufacturing | 20.6% |
| Retail & Wholesale Trader | 10.4% |
| Other | 19.2% |
AGE DISTRIBUTION
53% of the population is between the ages of 25 and 64, 36% is 24 or younger and 10% is 65 or older.
| Age | % Distribution |
|---|---|
| <15 | 22.0% |
| 15-19 | 8.4% |
| 20-24 | 6.1% |
| 25-44 | 28.1% |
| 45-65 | 25.0% |
| 66+ | 10.4% |
OCCUPATION
| Occupation | % Distribution |
|---|---|
| Clean | 12.6% |
| Computer Engineering | 9.0% |
| Education | 7.5% |
| Natural Resources Maintenance | 11.9% |
| Production & Transportation | 15.6% |
| Sales & Office | 24.1% |
| Other | 19.3% |
HIGHEST EDUCATION LEVEL
5% of adults 25 and older have an education level of a bachelor's degree or higher.
| Education Level | % Distribution |
|---|---|
| Associates Degree | 2.9% |
| High School | 26.8% |
| Masters Degree | 1.5% |
| Some College | 28.3% |
| Some High School | 32.1% |
| Other | 8.3% |
1501 Grove Ave Comps
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1501 Grove Ave, North Chicago, IL 60064 is a single family home of 1,495 sqft. HomeUnion INVESTimateĀ® for 1501 Grove Ave includes a Price Estimate of $140,879 and a Rent Estimate of $1,433. This single family home has 0 bedrooms,3 bathrooms, and was built in 1962. This property has an estimated 15 year annualized Yield of 12.21% and Total Return of 22.82%. The estimated 1 year forecast in home value for 1501 Grove Ave is 7.63%.
Looking for real estate investment properties in this area? You can browse additional properties and view investment data in IL , LAKE County , or the 60064 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2
