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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.

2242 Highway 231 Cottondale, FL 32431

4 Beds 2 Baths 2,562 sqft Built 1994
Last updated:  Jan 23, 2020

INVESTimate

$55,928

$53.4K - $58.5K

Price Est.

$1,156

$1.0K - $1.3K

Rent Est.

$56,784  ( +1.53%)   1 YR EST. FORECAST

2242 Highway 231 PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $21.83
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,562 sqft
  • Baths : 2 Full
PROPERTY DESCRIPTION
2242 Highway 231, Cottondale, FL 32431 is a single family home of 2,562 sqft. HomeUnion estimate for 2242 Highway 231 includes a Price Estimate of $55,928 and a Rent Estimate of $1,156. This single family home has 4 bedrooms, 2 bathrooms, and was built in 1994. This property has an estimated 15 year annualized Yield of 24.80% and Total Return of 30.40%. The estimated 1 year forecast in home value for 2242 Highway 231 is 1.53%.
  
  
  

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2242 Highway 231 SCHOOLS

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Financial Details

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Neighborhood

COTTONDALE

  • 4,140

    POPULATION
  • 1,664

    HOUSEHOLDS
  • 49.8%

    WHITE COLLAR

Neighborhood : COTTONDALE

HOUSEHOLDS
1,664
POPULATION

4,140

21.1%Renters
78.9%Home Owners
LABOR FORCE

 

49.8%White Collar
50.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 11% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,156 per month.

MY RENT : $1,156 MEDIAN RENT : $730

Rent % Distribution LEVEL
$500-699 35.4%
$700-899 39.5%
$900-999 9.5%
$1,000-1,499 15.7%
>=$1,500 0.0%
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 $1,156 would therefore be considered affordable for annual household incomes greater than $46,240 (12 months x 3.333 x $1,156).

Rent % Affordability
Above $500 73.9%
Above $700 61.3%
Above $1,100 41.8%
Above $1,500 26.8%
Above $1,900 16.0%
HOUSEHOLD INCOME RANGE

Approximately 545 of households in this neighborhood have a total annual income of $46,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,156 per month.

MINIMUM INCOME RANGE : $46,240

Income % Distribution
<$20K 26.1%
$20K-$35K 21.1%
$35K-$60K 26.1%
$60K-$100K 17.4%
>=$100K 9.4%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 15% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.0%
5-9 mins 4.8%
10-14 mins 17.2%
15-19 mins 18.8%
20-29 mins 23.3%
30-44 mins 19.8%
45-59 mins 7.8%
>60 mins 7.5%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 11% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,156 per month.

MY RENT : $1,156 MEDIAN RENT : $730

Rent % Distribution
$500-699 35.4%
$700-899 39.5%
$900-999 9.5%
$1,000-1,499 15.7%
>=$1,500 0.0%
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 $1,156 would therefore be considered affordable for annual household incomes greater than $46,240 (12 months x 3.333 x $1,156).

Rent % Affordability
Above $500 73.9%
Above $700 61.3%
Above $1,100 41.8%
Above $1,500 26.8%
Above $1,900 16.0%
HOUSEHOLD INCOME RANGE

Approximately 545 of households in this neighborhood have a total annual income of $46,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,156 per month.

MINIMUM INCOME RANGE : $46,240

Income % Distribution
<$20K 26.1%
$20K-$35K 21.1%
$35K-$60K 26.1%
$60K-$100K 17.4%
>=$100K 9.4%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 23% has a commute time of 14 minutes or less and 15% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.0%
5-9 mins 4.8%
10-14 mins 17.2%
15-19 mins 18.8%
20-29 mins 23.3%
30-44 mins 19.8%
45-59 mins 7.8%
>60 mins 7.5%

COTTONDALE Demographics

INDUSTRY

Industry % Distribution
Construction 9.5%
Educational Services 9.6%
Health Care & Social Assistance 15.4%
Public Administration 9.9%
Retail & Wholesale Trader 17.1%
Transportation 9.5%
Other 28.9%
AGE DISTRIBUTION

52% of the population is between the ages of 25 and 64, 28% is 24 or younger and 20% is 65 or older.

Age % Distribution
<15 19.1%
15-19 5.0%
20-24 4.2%
25-44 23.4%
45-65 28.1%
66+ 20.2%
OCCUPATION

Occupation % Distribution
Healthcare 12.2%
Management, Business, & Financial 9.8%
Natural Resources Maintenance 15.3%
Production & Transportation 12.3%
Protect 6.3%
Sales & Office 27.1%
Other 16.9%
HIGHEST EDUCATION LEVEL

10% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 5.9%
High School 41.9%
Masters Degree 2.7%
Some College 22.7%
Some High School 19.3%
Other 7.6%

2242 Highway 231 Comps

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