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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.

228 Penson Rd Honea Path, SC 29654

0 Beds 1 Baths 864 sqft Built 1979
Last updated:  Oct 23, 2019

INVESTimate

$235,098

$224K - $246K

Price Est.

$773

733 - 813

Rent Est.

$250,168  ( +6.41%)   1 YR EST. FORECAST

228 Penson Rd PROPERTY INFO

FACTS
  • Built In 1979
  • Price/Sqft : $272.10
CONSTRUCTION
  • Beds : 0
  • Floor Size : 864 sqft
  • Baths : 1 Full
PROPERTY DESCRIPTION
228 Penson Rd, Honea Path, SC 29654 is a single family home of 864 sqft. HomeUnion estimate for 228 Penson Rd includes a Price Estimate of $235,098 and a Rent Estimate of $773. This single family home has 0 bedrooms, 1 bathrooms, and was built in 1979. This property has an estimated 15 year annualized Yield of 3.95% and Total Return of 12.05%. The estimated 1 year forecast in home value for 228 Penson Rd is 6.41%.
  
  
  

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228 Penson Rd SCHOOLS

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Financial Details

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Neighborhood

HONEA PATH

  • 9,121

    POPULATION
  • 3,698

    HOUSEHOLDS
  • 49.8%

    WHITE COLLAR

Neighborhood : HONEA PATH

HOUSEHOLDS
3,698
POPULATION

9,121

23.2%Renters
76.8%Home Owners
LABOR FORCE

 

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

Approximately 71% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $773 per month.

MY RENT : $773 MEDIAN RENT : $820

Rent % Distribution LEVEL
$500-699 6.0%
$700-899 62.5%
$900-999 11.5%
$1,000-1,499 16.1%
>=$1,500 3.9%
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 $773 would therefore be considered affordable for annual household incomes greater than $30,920 (12 months x 3.333 x $773).

Rent % Affordability
Above $500 74.6%
Above $700 64.3%
Above $1,100 46.0%
Above $1,500 33.6%
Above $1,900 22.8%
HOUSEHOLD INCOME RANGE

Approximately 8,675 of households in this neighborhood have a total annual income of $30,920 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $773 per month.

MINIMUM INCOME RANGE : $30,920

Income % Distribution
<$20K 25.4%
$20K-$35K 19.7%
$35K-$60K 21.3%
$60K-$100K 23.5%
>=$100K 10.1%
COMMUTE TIME DISTRIBUTION

54% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 22% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.4%
5-9 mins 9.3%
10-14 mins 11.1%
15-19 mins 9.1%
20-29 mins 14.0%
30-44 mins 31.3%
45-59 mins 15.6%
>60 mins 6.2%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 71% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $773 per month.

MY RENT : $773 MEDIAN RENT : $820

Rent % Distribution
$500-699 6.0%
$700-899 62.5%
$900-999 11.5%
$1,000-1,499 16.1%
>=$1,500 3.9%
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 $773 would therefore be considered affordable for annual household incomes greater than $30,920 (12 months x 3.333 x $773).

Rent % Affordability
Above $500 74.6%
Above $700 64.3%
Above $1,100 46.0%
Above $1,500 33.6%
Above $1,900 22.8%
HOUSEHOLD INCOME RANGE

Approximately 8,675 of households in this neighborhood have a total annual income of $30,920 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $773 per month.

MINIMUM INCOME RANGE : $30,920

Income % Distribution
<$20K 25.4%
$20K-$35K 19.7%
$35K-$60K 21.3%
$60K-$100K 23.5%
>=$100K 10.1%
COMMUTE TIME DISTRIBUTION

54% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 22% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.4%
5-9 mins 9.3%
10-14 mins 11.1%
15-19 mins 9.1%
20-29 mins 14.0%
30-44 mins 31.3%
45-59 mins 15.6%
>60 mins 6.2%

HONEA PATH Demographics

INDUSTRY

Industry % Distribution
Construction 7.6%
Educational Services 6.7%
Health Care & Social Assistance 14.5%
Manufacturing 20.1%
Retail & Wholesale Trader 19.7%
Transportation 7.4%
Other 24.1%
AGE DISTRIBUTION

51% 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 17.6%
15-19 8.4%
20-24 5.9%
25-44 22.8%
45-65 27.9%
66+ 17.4%
OCCUPATION

Occupation % Distribution
Construction 6.3%
Healthcare 7.6%
Management, Business, & Financial 11.1%
Natural Resources Maintenance 13.1%
Production & Transportation 24.2%
Sales & Office 19.7%
Other 18.1%
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 9.8%
High School 35.7%
Masters Degree 2.4%
Some College 22.4%
Some High School 19.2%
Other 10.5%

228 Penson Rd Comps

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