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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

2114 W Memorial Hwy Union Grove, NC 28689

2 Beds 1 Baths 1,101 sqft Built 1943
Last updated:  Jan 23, 2020

INVESTimate

$162,841

$155K - $170K

Price Est.

$806

760 - 852

Rent Est.

$173,979  ( +6.84%)   1 YR EST. FORECAST
  
  
  

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2114 W Memorial Hwy PROPERTY INFO

FACTS
  • Built In 1943
  • Price/Sqft : $147.90
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,101 sqft
  • Baths : 1 Full

2114 W Memorial Hwy SCHOOLS

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Financial Details

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Neighborhood

UNION GROVE

  • 1,852

    POPULATION
  • 701

    HOUSEHOLDS
  • 58.7%

    WHITE COLLAR

Neighborhood : UNION GROVE

HOUSEHOLDS
701
POPULATION

1,852

13.8%Renters
86.2%Home Owners
LABOR FORCE

 

58.7%White Collar
41.3%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 65% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $806 per month.

MY RENT : $806 MEDIAN RENT : $859

Rent % Distribution LEVEL
$500-699 7.7%
$700-899 51.3%
$900-999 12.2%
$1,000-1,499 23.9%
>=$1,500 4.8%
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 $806 would therefore be considered affordable for annual household incomes greater than $32,240 (12 months x 3.333 x $806).

Rent % Affordability
Above $500 82.7%
Above $700 75.5%
Above $1,100 55.4%
Above $1,500 39.8%
Above $1,900 28.2%
HOUSEHOLD INCOME RANGE

Approximately 1,539 of households in this neighborhood have a total annual income of $32,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $806 per month.

MINIMUM INCOME RANGE : $32,240

Income % Distribution
<$20K 17.3%
$20K-$35K 17.0%
$35K-$60K 25.9%
$60K-$100K 28.5%
>=$100K 11.3%
COMMUTE TIME DISTRIBUTION

59% of the working population has a commute time of 15 to 44 minutes, 30% 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 6.2%
5-9 mins 16.0%
10-14 mins 7.4%
15-19 mins 9.7%
20-29 mins 23.5%
30-44 mins 26.1%
45-59 mins 7.7%
>60 mins 3.5%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 65% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $806 per month.

MY RENT : $806 MEDIAN RENT : $859

Rent % Distribution
$500-699 7.7%
$700-899 51.3%
$900-999 12.2%
$1,000-1,499 23.9%
>=$1,500 4.8%
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 $806 would therefore be considered affordable for annual household incomes greater than $32,240 (12 months x 3.333 x $806).

Rent % Affordability
Above $500 82.7%
Above $700 75.5%
Above $1,100 55.4%
Above $1,500 39.8%
Above $1,900 28.2%
HOUSEHOLD INCOME RANGE

Approximately 1,539 of households in this neighborhood have a total annual income of $32,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $806 per month.

MINIMUM INCOME RANGE : $32,240

Income % Distribution
<$20K 17.3%
$20K-$35K 17.0%
$35K-$60K 25.9%
$60K-$100K 28.5%
>=$100K 11.3%
COMMUTE TIME DISTRIBUTION

59% of the working population has a commute time of 15 to 44 minutes, 30% 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 6.2%
5-9 mins 16.0%
10-14 mins 7.4%
15-19 mins 9.7%
20-29 mins 23.5%
30-44 mins 26.1%
45-59 mins 7.7%
>60 mins 3.5%

UNION GROVE Demographics

INDUSTRY

Industry % Distribution
Agriculture, Fishing & Game 6.4%
Construction 7.4%
Educational Services 9.6%
Health Care & Social Assistance 13.3%
Manufacturing 25.8%
Retail & Wholesale Trader 14.4%
Other 23.0%
AGE DISTRIBUTION

54% of the population is between the ages of 25 and 64, 23% is 24 or younger and 23% is 65 or older.

Age % Distribution
<15 12.7%
15-19 7.9%
20-24 2.5%
25-44 14.5%
45-65 39.8%
66+ 22.6%
OCCUPATION

Occupation % Distribution
Construction 5.8%
Healthcare 9.9%
Management, Business, & Financial 18.2%
Natural Resources Maintenance 19.8%
Production & Transportation 23.1%
Sales & Office 14.1%
Other 9.2%
HIGHEST EDUCATION LEVEL

13% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 10.5%
High School 43.2%
Masters Degree 2.1%
Some College 20.3%
Some High School 14.6%
Other 9.3%

2114 W Memorial Hwy Comps

Sorry, we do not have sufficient data available.

2114 W Memorial Hwy, Union Grove, NC 28689 is a single family home of 1,101 sqft. HomeUnion INVESTimateĀ® for 2114 W Memorial Hwy includes a Price Estimate of $162,841 and a Rent Estimate of $806. This single family home has 2 bedrooms,1 bathrooms, and was built in 1943. This property has an estimated 15 year annualized Yield of 5.94% and Total Return of 20.52%. The estimated 1 year forecast in home value for 2114 W Memorial Hwy is 6.84%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in NC , IREDELL County , or the 28689 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 28634
  2. 28660
  3. 27028