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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

167 Lake Rd Andover, CT 06232

3 Beds 2 Baths 1,008 sqft Built 1988
Last updated:  Jan 23, 2020

INVESTimate

$220,837

$203K - $239K

Price Est.

$1,614

$1.5K - $1.8K

Rent Est.

$221,433  ( +0.27%)   1 YR EST. FORECAST
  
  
  

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167 Lake Rd PROPERTY INFO

FACTS
  • Built In 1988
  • Price/Sqft : $219.08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,008 sqft
  • Baths : 2 Full

167 Lake Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
ANDOVER ELEMENTARY SCHOOL Primary Regular 314 29 9
ANDOVER ELEMENTARY SCHOOL Middle Regular 314 29 9
RHAM HIGH SCHOOL High Regular 1,175 95 9

ANDOVER ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 314
  • # of teachers: 29
9
GreatSchools Rating

ANDOVER ELEMENTARY SCHOOL

  • Education Level: Middle
  • # of students: 314
  • # of teachers: 29
9
GreatSchools Rating

RHAM HIGH SCHOOL

  • Education Level: High
  • # of students: 1,175
  • # of teachers: 95
9
GreatSchools Rating
 

Financial Details

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Neighborhood

ANDOVER

  • 3,156

    POPULATION
  • 1,207

    HOUSEHOLDS
  • 67.2%

    WHITE COLLAR

Neighborhood : ANDOVER

HOUSEHOLDS
1,207
POPULATION

3,156

9.5%Renters
90.5%Home Owners
LABOR FORCE

 

67.2%White Collar
32.8%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 77% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,614 per month.

MY RENT : $1,614 MEDIAN RENT : $1,786

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 23.0%
>=$1,500 77.0%
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 $1,614 would therefore be considered affordable for annual household incomes greater than $64,560 (12 months x 3.333 x $1,614).

Rent % Affordability
Above $500 96.0%
Above $700 93.8%
Above $1,100 85.9%
Above $1,500 77.7%
Above $1,900 64.9%
HOUSEHOLD INCOME RANGE

Approximately 728 of households in this neighborhood have a total annual income of $64,560 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,614 per month.

MINIMUM INCOME RANGE : $64,560

Income % Distribution
<$20K 4.0%
$20K-$35K 4.7%
$35K-$60K 13.6%
$60K-$100K 27.1%
>=$100K 50.6%
COMMUTE TIME DISTRIBUTION

78% of the working population has a commute time of 15 to 44 minutes, 8% has a commute time of 14 minutes or less and 14% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.3%
5-9 mins 0.0%
10-14 mins 4.7%
15-19 mins 11.4%
20-29 mins 41.0%
30-44 mins 25.5%
45-59 mins 9.8%
>60 mins 4.3%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 77% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,614 per month.

MY RENT : $1,614 MEDIAN RENT : $1,786

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 23.0%
>=$1,500 77.0%
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 $1,614 would therefore be considered affordable for annual household incomes greater than $64,560 (12 months x 3.333 x $1,614).

Rent % Affordability
Above $500 96.0%
Above $700 93.8%
Above $1,100 85.9%
Above $1,500 77.7%
Above $1,900 64.9%
HOUSEHOLD INCOME RANGE

Approximately 728 of households in this neighborhood have a total annual income of $64,560 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,614 per month.

MINIMUM INCOME RANGE : $64,560

Income % Distribution
<$20K 4.0%
$20K-$35K 4.7%
$35K-$60K 13.6%
$60K-$100K 27.1%
>=$100K 50.6%
COMMUTE TIME DISTRIBUTION

78% of the working population has a commute time of 15 to 44 minutes, 8% has a commute time of 14 minutes or less and 14% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.3%
5-9 mins 0.0%
10-14 mins 4.7%
15-19 mins 11.4%
20-29 mins 41.0%
30-44 mins 25.5%
45-59 mins 9.8%
>60 mins 4.3%

ANDOVER Demographics

INDUSTRY

Industry % Distribution
Educational Services 7.2%
Financial Industries 7.0%
Health Care & Social Assistance 24.3%
Manufacturing 7.3%
Public Administration 10.5%
Retail & Wholesale Trader 13.2%
Other 30.5%
AGE DISTRIBUTION

60% of the population is between the ages of 25 and 64, 28% is 24 or younger and 12% is 65 or older.

Age % Distribution
<15 14.9%
15-19 9.7%
20-24 3.6%
25-44 20.1%
45-65 39.4%
66+ 12.3%
OCCUPATION

Occupation % Distribution
Computer Engineering 7.0%
Healthcare 15.7%
Management, Business, & Financial 18.9%
Natural Resources Maintenance 11.1%
Production & Transportation 6.6%
Sales & Office 18.6%
Other 22.2%
HIGHEST EDUCATION LEVEL

29% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 9.9%
High School 20.3%
Masters Degree 13.8%
Professional 4.1%
Some College 22.4%
Other 29.5%

167 Lake Rd Comps

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167 Lake Rd, Andover, CT 06232 is a single family home of 1,008 sqft. HomeUnion INVESTimateĀ® for 167 Lake Rd includes a Price Estimate of $220,837 and a Rent Estimate of $1,614. This single family home has 3 bedrooms,2 bathrooms, and was built in 1988. This property has an estimated 15 year annualized Yield of 8.77% and Total Return of 10.13%. The estimated 1 year forecast in home value for 167 Lake Rd is 0.27%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in CT , TOLLAND County , or the 06232 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 06237
  2. 06248