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This page contains information about each property aggregated from public data sources, 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.

1656 Norway Rd Lowman, NY 14861

3 Beds 2 Baths 1,604 sqft Built 2007
Last updated:  Jan 23, 2020

INVESTimate

$128,067

$120K - $136K

Price Est.

$2,154

$1.7K - $2.7K

Rent Est.

$136,545  ( +6.62%)   1 YR EST. FORECAST

1656 Norway Rd PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $79.84
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,604 sqft
  • Baths : 2 Full
PROPERTY DESCRIPTION
1656 Norway Rd, Lowman, NY 14861 is a single family home of 1,604 sqft. HomeUnion estimate for 1656 Norway Rd includes a Price Estimate of $128,067 and a Rent Estimate of $2,154. This single family home has 3 bedrooms, 2 bathrooms, and was built in 2007. This property has an estimated 15 year annualized Yield of 20.18% and Total Return of 47.34%. The estimated 1 year forecast in home value for 1656 Norway Rd is 6.62%.
  
  
  

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1656 Norway Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
FASSETT ELEMENTARY SCHOOL Primary Regular 402 28 NA
ERNIE DAVIS MIDDLE SCHOOL Middle Regular 705 55 6
SOUTHSIDE HIGH SCHOOL High Regular 1,052 69 4

FASSETT ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 402
  • # of teachers: 28
0
GreatSchools Rating

ERNIE DAVIS MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 705
  • # of teachers: 55
6
GreatSchools Rating

SOUTHSIDE HIGH SCHOOL

  • Education Level: High
  • # of students: 1,052
  • # of teachers: 69
4
GreatSchools Rating
 

Financial Details

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Neighborhood

LOWMAN

  • 1,567

    POPULATION
  • 684

    HOUSEHOLDS
  • 50.0%

    WHITE COLLAR

Neighborhood : LOWMAN

HOUSEHOLDS
684
POPULATION

1,567

12.5%Renters
87.5%Home Owners
LABOR FORCE

 

50.0%White Collar
50.0%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 70% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,154 per month.

MY RENT : $2,154 MEDIAN RENT : $1,637

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 30.5%
>=$1,500 69.5%
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 $2,154 would therefore be considered affordable for annual household incomes greater than $86,160 (12 months x 3.333 x $2,154).

Rent % Affordability
Above $500 84.6%
Above $700 78.4%
Above $1,100 56.7%
Above $1,500 42.2%
Above $1,900 29.8%
HOUSEHOLD INCOME RANGE

Approximately 150 of households in this neighborhood have a total annual income of $86,160 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,154 per month.

MINIMUM INCOME RANGE : $86,160

Income % Distribution
<$20K 15.4%
$20K-$35K 14.5%
$35K-$60K 28.0%
$60K-$100K 23.4%
>=$100K 18.7%
COMMUTE TIME DISTRIBUTION

66% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 11% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.1%
5-9 mins 6.3%
10-14 mins 12.9%
15-19 mins 21.3%
20-29 mins 30.3%
30-44 mins 14.6%
45-59 mins 6.3%
>60 mins 4.3%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 70% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,154 per month.

MY RENT : $2,154 MEDIAN RENT : $1,637

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 30.5%
>=$1,500 69.5%
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 $2,154 would therefore be considered affordable for annual household incomes greater than $86,160 (12 months x 3.333 x $2,154).

Rent % Affordability
Above $500 84.6%
Above $700 78.4%
Above $1,100 56.7%
Above $1,500 42.2%
Above $1,900 29.8%
HOUSEHOLD INCOME RANGE

Approximately 150 of households in this neighborhood have a total annual income of $86,160 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,154 per month.

MINIMUM INCOME RANGE : $86,160

Income % Distribution
<$20K 15.4%
$20K-$35K 14.5%
$35K-$60K 28.0%
$60K-$100K 23.4%
>=$100K 18.7%
COMMUTE TIME DISTRIBUTION

66% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 11% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.1%
5-9 mins 6.3%
10-14 mins 12.9%
15-19 mins 21.3%
20-29 mins 30.3%
30-44 mins 14.6%
45-59 mins 6.3%
>60 mins 4.3%

LOWMAN Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 8.2%
Construction 8.8%
Health Care & Social Assistance 21.4%
Manufacturing 16.3%
Public Administration 9.2%
Retail & Wholesale Trader 11.3%
Other 24.8%
AGE DISTRIBUTION

55% of the population is between the ages of 25 and 64, 26% is 24 or younger and 19% is 65 or older.

Age % Distribution
<15 15.7%
15-19 5.3%
20-24 5.0%
25-44 21.5%
45-65 33.7%
66+ 18.8%
OCCUPATION

Occupation % Distribution
Healthcare 9.5%
Management, Business, & Financial 13.6%
Natural Resources Maintenance 14.5%
Production & Transportation 18.9%
Sales & Office 15.3%
Social 5.6%
Other 22.6%
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 12.1%
High School 47.4%
Masters Degree 4.3%
Some College 17.9%
Some High School 7.6%
Other 10.7%

1656 Norway Rd Comps

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Looking for real estate investment properties in this area? You can browse additional properties and view investment data in NY , CHEMUNG County , or the 14861 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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Nearest zipcodes within 2 miles

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