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This page contains aggregated information about each property, and is not intended to serve as an appraisal. Projections for accumulated wealth, cash flow and equity are based on predictive models used to analyze big data on more than 110 million homes. Learn more about INVESTimate

1520 Melrose Ave Round Lake Beach, IL 60073

0 Beds 1 Baths 1,080 sqft Built 1977
Last updated:  Jan 23, 2020

INVESTimate

$129,745

$128K - $132K

Price Est.

$953

899 - $1.0K

Rent Est.

$141,850  ( +9.33%)   1 YR EST. FORECAST
  
  
  

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1520 Melrose Ave PROPERTY INFO

FACTS
  • Built In 1977
  • Price/Sqft : $120.13
CONSTRUCTION
  • Beds : 0
  • Floor Size : 1,080 sqft
  • Baths : 1 Full

1520 Melrose Ave SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
ROUND LAKE BEACH ELEMENTARY SCHOOL Primary Regular 588 29 3
ROUND LAKE MIDDLE SCHOOL Middle Regular 969 55 3
ROUND LAKE HIGH SCHOOL High Regular 1,927 115 3

ROUND LAKE BEACH ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 29
3
GreatSchools Rating

ROUND LAKE MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 969
  • # of teachers: 55
3
GreatSchools Rating

ROUND LAKE HIGH SCHOOL

  • Education Level: High
  • # of students: 1,927
  • # of teachers: 115
3
GreatSchools Rating
 

Financial Details

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Neighborhood

Round Lake Beach-Shorewood Golf Course

  • 2,651

    POPULATION
  • 685

    HOUSEHOLDS
  • 35.1%

    WHITE COLLAR

Neighborhood : Round Lake Beach-Shorewood Golf Course

HOUSEHOLDS
685
POPULATION

2,651

21.4%Renters
78.6%Home Owners
LABOR FORCE

 

35.1%White Collar
64.9%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 73% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $953 per month.

MY RENT : $953 MEDIAN RENT : $1,128

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 12.8%
$900-999 27.6%
$1,000-1,499 56.5%
>=$1,500 3.0%
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 $953 would therefore be considered affordable for annual household incomes greater than $38,120 (12 months x 3.333 x $953).

Rent % Affordability
Above $500 85.4%
Above $700 77.6%
Above $1,100 63.6%
Above $1,500 44.1%
Above $1,900 32.1%
HOUSEHOLD INCOME RANGE

Approximately 376 of households in this neighborhood have a total annual income of $38,120 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $953 per month.

MINIMUM INCOME RANGE : $38,120

Income % Distribution
<$20K 14.6%
$20K-$35K 11.5%
$35K-$60K 29.8%
$60K-$100K 26.1%
>=$100K 18.0%
COMMUTE TIME DISTRIBUTION

68% of the working population has a commute time of 15 to 44 minutes, 11% has a commute time of 14 minutes or less and 21% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.3%
5-9 mins 5.8%
10-14 mins 5.3%
15-19 mins 12.8%
20-29 mins 19.5%
30-44 mins 35.4%
45-59 mins 9.7%
>60 mins 11.3%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 73% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $953 per month.

MY RENT : $953 MEDIAN RENT : $1,128

Rent % Distribution
$500-699 0.0%
$700-899 12.8%
$900-999 27.6%
$1,000-1,499 56.5%
>=$1,500 3.0%
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 $953 would therefore be considered affordable for annual household incomes greater than $38,120 (12 months x 3.333 x $953).

Rent % Affordability
Above $500 85.4%
Above $700 77.6%
Above $1,100 63.6%
Above $1,500 44.1%
Above $1,900 32.1%
HOUSEHOLD INCOME RANGE

Approximately 376 of households in this neighborhood have a total annual income of $38,120 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $953 per month.

MINIMUM INCOME RANGE : $38,120

Income % Distribution
<$20K 14.6%
$20K-$35K 11.5%
$35K-$60K 29.8%
$60K-$100K 26.1%
>=$100K 18.0%
COMMUTE TIME DISTRIBUTION

68% of the working population has a commute time of 15 to 44 minutes, 11% has a commute time of 14 minutes or less and 21% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.3%
5-9 mins 5.8%
10-14 mins 5.3%
15-19 mins 12.8%
20-29 mins 19.5%
30-44 mins 35.4%
45-59 mins 9.7%
>60 mins 11.3%

Round Lake Beach-Shorewood Golf Course Demographics

INDUSTRY

Industry % Distribution
Administrative Support 11.1%
Arts & Entertainment 11.5%
Construction 8.9%
Health Care & Social Assistance 7.1%
Manufacturing 16.6%
Retail & Wholesale Trader 24.5%
Other 20.2%
AGE DISTRIBUTION

53% of the population is between the ages of 25 and 64, 39% is 24 or younger and 8% is 65 or older.

Age % Distribution
<15 22.7%
15-19 8.0%
20-24 8.1%
25-44 29.0%
45-65 23.6%
66+ 8.4%
OCCUPATION

Occupation % Distribution
Clean 9.5%
Education 7.8%
Management, Business, & Financial 8.3%
Natural Resources Maintenance 12.8%
Production & Transportation 29.3%
Sales & Office 24.2%
Other 8.1%
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 3.8%
High School 38.3%
Masters Degree 1.1%
Some College 16.8%
Some High School 34.0%
Other 6.2%

1520 Melrose Ave Comps

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1520 Melrose Ave, Round Lake Beach, IL 60073 is a single family home of 1,080 sqft. HomeUnion INVESTimateĀ® for 1520 Melrose Ave includes a Price Estimate of $129,745 and a Rent Estimate of $953. This single family home has 0 bedrooms,1 bathrooms, and was built in 1977. This property has an estimated 15 year annualized Yield of 8.81% and Total Return of 18.31%. The estimated 1 year forecast in home value for 1520 Melrose Ave is 9.33%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in IL , LAKE County , or the 60073 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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