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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

196 Cherry Mountain St Ellenboro, NC 28040

2 Beds 1 Baths 1,216 sqft Built 1965
Last updated:  Jan 23, 2020

INVESTimate

$110,598

$100K - $121K

Price Est.

$735

642 - 828

Rent Est.

$119,446  ( +8%)   1 YR EST. FORECAST
  
  
  

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196 Cherry Mountain St PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $90.95
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,216 sqft
  • Baths : 1 Full

196 Cherry Mountain St SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
ELLENBORO ELEMENTARY SCHOOL Primary Regular 661 35 NA
EAST RUTHERFORD MIDDLE SCHOOL Middle Regular 657 38 NA
EAST RUTHERFORD HIGH SCHOOL High Regular 763 49 NA

ELLENBORO ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 661
  • # of teachers: 35
-1
GreatSchools Rating

EAST RUTHERFORD MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 657
  • # of teachers: 38
-1
GreatSchools Rating

EAST RUTHERFORD HIGH SCHOOL

  • Education Level: High
  • # of students: 763
  • # of teachers: 49
-1
GreatSchools Rating
 

Financial Details

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Neighborhood

ELLENBORO

  • 7,981

    POPULATION
  • 2,972

    HOUSEHOLDS
  • 48.9%

    WHITE COLLAR

Neighborhood : ELLENBORO

HOUSEHOLDS
2,972
POPULATION

7,981

21.9%Renters
78.1%Home Owners
LABOR FORCE

 

48.9%White Collar
51.1%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 82% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $735 per month.

MY RENT : $735 MEDIAN RENT : $875

Rent % Distribution LEVEL
$500-699 10.6%
$700-899 44.6%
$900-999 13.7%
$1,000-1,499 29.2%
>=$1,500 1.9%
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 $735 would therefore be considered affordable for annual household incomes greater than $29,400 (12 months x 3.333 x $735).

Rent % Affordability
Above $500 74.1%
Above $700 63.8%
Above $1,100 44.4%
Above $1,500 29.0%
Above $1,900 18.0%
HOUSEHOLD INCOME RANGE

Approximately 6,396 of households in this neighborhood have a total annual income of $29,400 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $735 per month.

MINIMUM INCOME RANGE : $29,400

Income % Distribution
<$20K 25.9%
$20K-$35K 17.3%
$35K-$60K 27.8%
$60K-$100K 21.4%
>=$100K 7.7%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 21% has a commute time of 14 minutes or less and 17% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.4%
5-9 mins 7.3%
10-14 mins 10.6%
15-19 mins 17.8%
20-29 mins 28.1%
30-44 mins 16.2%
45-59 mins 8.8%
>60 mins 7.8%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 82% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $735 per month.

MY RENT : $735 MEDIAN RENT : $875

Rent % Distribution
$500-699 10.6%
$700-899 44.6%
$900-999 13.7%
$1,000-1,499 29.2%
>=$1,500 1.9%
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 $735 would therefore be considered affordable for annual household incomes greater than $29,400 (12 months x 3.333 x $735).

Rent % Affordability
Above $500 74.1%
Above $700 63.8%
Above $1,100 44.4%
Above $1,500 29.0%
Above $1,900 18.0%
HOUSEHOLD INCOME RANGE

Approximately 6,396 of households in this neighborhood have a total annual income of $29,400 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $735 per month.

MINIMUM INCOME RANGE : $29,400

Income % Distribution
<$20K 25.9%
$20K-$35K 17.3%
$35K-$60K 27.8%
$60K-$100K 21.4%
>=$100K 7.7%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 21% has a commute time of 14 minutes or less and 17% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.4%
5-9 mins 7.3%
10-14 mins 10.6%
15-19 mins 17.8%
20-29 mins 28.1%
30-44 mins 16.2%
45-59 mins 8.8%
>60 mins 7.8%

ELLENBORO Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 6.0%
Construction 5.9%
Educational Services 9.0%
Health Care & Social Assistance 18.0%
Manufacturing 24.9%
Retail & Wholesale Trader 15.2%
Other 21.1%
AGE DISTRIBUTION

50% of the population is between the ages of 25 and 64, 32% is 24 or younger and 17% is 65 or older.

Age % Distribution
<15 19.4%
15-19 6.8%
20-24 6.2%
25-44 22.9%
45-65 27.3%
66+ 17.4%
OCCUPATION

Occupation % Distribution
Education 4.9%
Healthcare 11.5%
Management, Business, & Financial 11.4%
Natural Resources Maintenance 18.1%
Production & Transportation 24.1%
Sales & Office 19.0%
Other 11.1%
HIGHEST EDUCATION LEVEL

16% 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 34.2%
Masters Degree 3.6%
Some College 19.2%
Some High School 21.0%
Other 10.2%

196 Cherry Mountain St Comps

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196 Cherry Mountain St, Ellenboro, NC 28040 is a single family home of 1,216 sqft. HomeUnion INVESTimateĀ® for 196 Cherry Mountain St includes a Price Estimate of $110,598 and a Rent Estimate of $735. This single family home has 2 bedrooms,1 bathrooms, and was built in 1965. This property has an estimated 15 year annualized Yield of 7.97% and Total Return of 23.92%. The estimated 1 year forecast in home value for 196 Cherry Mountain St is 8%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in NC , RUTHERFORD County , or the 28040 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 28043
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  5. 28752
  6. 28711