INVESTimate
$75,697
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2501 Myrtle Ave PROPERTY INFO
FACTS
- Built In 1978
- Price/Sqft : $178.13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,360 sqft
- Baths : 2 Full
2501 Myrtle Ave SCHOOLS
Financial Details
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MERCED
Neighborhood : MERCED
DISTRIBUTION OF RENTS IN NEIGHBORHOOD
Approximately 69% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,181 per month.
MY RENT : $1,181 MEDIAN RENT : $1,384
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 $1,181 would therefore be considered affordable for annual household incomes greater than $47,240 (12 months x 3.333 x $1,181).
HOUSEHOLD INCOME RANGE
Approximately 5,594 of households in this neighborhood have a total annual income of $47,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,181 per month.
MINIMUM INCOME RANGE : $47,240
COMMUTE TIME DISTRIBUTION
41% of the working population has a commute time of 15 to 44 minutes, 48% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.
MERCED Demographics
INDUSTRY
Industry | % Distribution |
---|---|
Arts & Entertainment | 7.7% |
Construction | 6.7% |
Educational Services | 18.4% |
Health Care & Social Assistance | 12.7% |
Manufacturing | 7.4% |
Retail & Wholesale Trader | 14.5% |
Other | 32.5% |
AGE DISTRIBUTION
47% of the population is between the ages of 25 and 64, 40% is 24 or younger and 13% is 65 or older.
Age | % Distribution |
---|---|
<15 | 21.2% |
15-19 | 10.3% |
20-24 | 8.5% |
25-44 | 25.1% |
45-65 | 22.4% |
66+ | 12.5% |
OCCUPATION
Occupation | % Distribution |
---|---|
Construction | 9.8% |
Healthcare | 6.3% |
Management, Business, & Financial | 13.2% |
Natural Resources Maintenance | 12.8% |
Production & Transportation | 12.2% |
Sales & Office | 22.2% |
Other | 23.5% |
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 | 23.0% |
Masters Degree | 6.5% |
Some College | 26.9% |
Some High School | 16.0% |
Other | 17.1% |
2501 Myrtle Ave Comps
2501 Myrtle Ave, Merced, CA 95340 is a single family home of 1,360 sqft. HomeUnion INVESTimate® for 2501 Myrtle Ave includes a Price Estimate of $242,251 and a Rent Estimate of $1,181. This single family home has 3 bedrooms,2 bathrooms, and was built in 1978. This property has an estimated 15 year annualized Yield of 5.85% and Total Return of 21.85%. The estimated 1 year forecast in home value for 2501 Myrtle Ave is 9.69%.
Looking for real estate investment properties in this area? You can browse additional properties and view investment data in CA, MERCED County, or the 95340 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2