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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

221 Cleveland Ave Observatory, PA 15214

2 Beds 2 Baths 792 sqft Built 1955
Last updated:  Oct 23, 2019

INVESTimate

$131,045

$125K - $137K

Price Est.

$1,267

$1.1K - $1.4K

Rent Est.

$137,309  ( +4.78%)   1 YR EST. FORECAST
  
  
  

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221 Cleveland Ave PROPERTY INFO

FACTS
  • Built In 1955
  • Price/Sqft : $165.46
CONSTRUCTION
  • Beds : 2
  • Floor Size : 792 sqft
  • Baths : 2 Full

221 Cleveland Ave SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
MORROW ELEMENTARY SCHOOL Primary Regular 400 23 2
PERRY HIGH SCHOOL High Magnet 652 53 NA

MORROW ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 400
  • # of teachers: 23
2
GreatSchools Rating

PERRY HIGH SCHOOL

  • Education Level: High
  • # of students: 652
  • # of teachers: 53
-1
GreatSchools Rating
 

Financial Details

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Neighborhood

PITTSBURGH

  • 13,972

    POPULATION
  • 6,189

    HOUSEHOLDS
  • 65.3%

    WHITE COLLAR

Neighborhood : PITTSBURGH

HOUSEHOLDS
6,189
POPULATION

13,972

40.6%Renters
59.4%Home Owners
LABOR FORCE

 

65.3%White Collar
34.7%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 41% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,267 per month.

MY RENT : $1,267 MEDIAN RENT : $1,151

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 7.6%
$900-999 16.9%
$1,000-1,499 65.5%
>=$1,500 10.0%
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 $1,267 would therefore be considered affordable for annual household incomes greater than $50,680 (12 months x 3.333 x $1,267).

Rent % Affordability
Above $500 75.3%
Above $700 67.0%
Above $1,100 50.0%
Above $1,500 38.4%
Above $1,900 28.0%
HOUSEHOLD INCOME RANGE

Approximately 2,577 of households in this neighborhood have a total annual income of $50,680 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,267 per month.

MINIMUM INCOME RANGE : $50,680

Income % Distribution
<$20K 24.7%
$20K-$35K 15.7%
$35K-$60K 21.2%
$60K-$100K 20.2%
>=$100K 18.2%
COMMUTE TIME DISTRIBUTION

67% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.8%
5-9 mins 8.7%
10-14 mins 13.1%
15-19 mins 17.2%
20-29 mins 24.9%
30-44 mins 25.0%
45-59 mins 4.6%
>60 mins 5.8%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 41% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,267 per month.

MY RENT : $1,267 MEDIAN RENT : $1,151

Rent % Distribution
$500-699 0.0%
$700-899 7.6%
$900-999 16.9%
$1,000-1,499 65.5%
>=$1,500 10.0%
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 $1,267 would therefore be considered affordable for annual household incomes greater than $50,680 (12 months x 3.333 x $1,267).

Rent % Affordability
Above $500 75.3%
Above $700 67.0%
Above $1,100 50.0%
Above $1,500 38.4%
Above $1,900 28.0%
HOUSEHOLD INCOME RANGE

Approximately 2,577 of households in this neighborhood have a total annual income of $50,680 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,267 per month.

MINIMUM INCOME RANGE : $50,680

Income % Distribution
<$20K 24.7%
$20K-$35K 15.7%
$35K-$60K 21.2%
$60K-$100K 20.2%
>=$100K 18.2%
COMMUTE TIME DISTRIBUTION

67% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 0.8%
5-9 mins 8.7%
10-14 mins 13.1%
15-19 mins 17.2%
20-29 mins 24.9%
30-44 mins 25.0%
45-59 mins 4.6%
>60 mins 5.8%

PITTSBURGH Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 9.5%
Educational Services 7.5%
Financial Industries 7.2%
Health Care & Social Assistance 20.2%
Manufacturing 8.3%
Retail & Wholesale Trader 12.9%
Other 34.4%
AGE DISTRIBUTION

55% of the population is between the ages of 25 and 64, 28% is 24 or younger and 17% is 65 or older.

Age % Distribution
<15 18.1%
15-19 4.8%
20-24 5.5%
25-44 27.6%
45-65 26.9%
66+ 17.0%
OCCUPATION

Occupation % Distribution
Computer Engineering 6.4%
Construction 6.2%
Healthcare 7.9%
Management, Business, & Financial 18.0%
Production & Transportation 11.1%
Sales & Office 21.2%
Other 29.3%
HIGHEST EDUCATION LEVEL

22% 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 33.8%
Masters Degree 8.6%
Some College 17.0%
Some High School 8.5%
Other 21.5%

221 Cleveland Ave Comps

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221 Cleveland Ave, Observatory, PA 15214 is a single family home of 792 sqft. HomeUnion INVESTimateĀ® for 221 Cleveland Ave includes a Price Estimate of $131,045 and a Rent Estimate of $1,267. This single family home has 2 bedrooms,2 bathrooms, and was built in 1955. This property has an estimated 15 year annualized Yield of 11.60% and Total Return of 23.40%. The estimated 1 year forecast in home value for 221 Cleveland Ave is 4.78%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in PA , ALLEGHENY County , or the 15214 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

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