Sell Your Property on INVESTimate

Easily ACcess a network of motivated buyers
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

...MORE

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

344 Nw Melrose St Sublimity, OR 97385

3 Beds 3 Baths 2,393 sqft Built 2004
Last updated:  Nov 28, 2019

INVESTimate

$454,963

$437K - $473K

Price Est.

$2,237

$2.0K - $2.5K

Rent Est.

$484,672  ( +6.53%)   1 YR EST. FORECAST
  
  
  

The following properties with Estimated Highest Gross Yields are available in other markets.

  • 2340 BEAVER RUIN ROAD Norcross, GA
    • 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 1974 ∙ 1units 3 beds 3 baths ∙ 1,566 Sqft ∙ Built 1974 ∙ 1units
    AVAILABLE fmls
    • 15.74% GROSS YIELD
    • $7,100 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $102,900
    • $33,018
    • $1,350
  • 27440 N ALMA SCHOOL Parkway #33-2 Scottsdale, AZ
    • 3 beds 3 baths ∙ 3,014 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,014 Sqft ∙ Built 2005
    AVAILABLE
    • 15.68% GROSS YIELD
    • $13,349 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $225,000
    • $65,375
    • $2,940
  • 1206 WALES DRIVE Killeen, TX
    • 5 beds 3 baths ∙ 4,444 Sqft ∙ Built 1975 ∙ 2units 5 beds 3 baths ∙ 4,444 Sqft ∙ Built 1975 ∙ 2units
    AVAILABLE
    • 15.00% GROSS YIELD
    • $10,795 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $160,000
    • $53,900
    • $2,000
  • 3807 NORTHFLEET COURT Houston, TX
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1980 ∙ 1units 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 1980 ∙ 1units
    AVAILABLE
    • 14.91% GROSS YIELD
    • $7,932 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $117,500
    • $36,888
    • $1,460

344 Nw Melrose St PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $190.12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,393 sqft
  • Baths : 2 Full 1 Half

344 Nw Melrose St SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
SUBLIMITY ELEMENTARY SCHOOL Primary Regular 405 18 9
SUBLIMITY ELEMENTARY SCHOOL Middle Regular 405 18 9
STAYTON HIGH SCHOOL High Regular 757 34 6

SUBLIMITY ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 405
  • # of teachers: 18
9
GreatSchools Rating

SUBLIMITY ELEMENTARY SCHOOL

  • Education Level: Middle
  • # of students: 405
  • # of teachers: 18
9
GreatSchools Rating

STAYTON HIGH SCHOOL

  • Education Level: High
  • # of students: 757
  • # of teachers: 34
6
GreatSchools Rating
 

Financial Details

See Financial Details

To review the detailed projections for this property, sign up for a FREE account

Already have an account?
Neighborhood

SUBLIMITY

  • 3,298

    POPULATION
  • 1,328

    HOUSEHOLDS
  • 64.4%

    WHITE COLLAR

Neighborhood : SUBLIMITY

HOUSEHOLDS
1,328
POPULATION

3,298

30.8%Renters
69.2%Home Owners
LABOR FORCE

 

64.4%White Collar
35.6%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 86% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,237 per month.

MY RENT : $2,237 MEDIAN RENT : $1,870

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.3%
$1,000-1,499 13.8%
>=$1,500 85.9%
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 $2,237 would therefore be considered affordable for annual household incomes greater than $89,480 (12 months x 3.333 x $2,237).

Rent % Affordability
Above $500 81.8%
Above $700 74.3%
Above $1,100 60.7%
Above $1,500 51.5%
Above $1,900 42.2%
HOUSEHOLD INCOME RANGE

Approximately 380 of households in this neighborhood have a total annual income of $89,480 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,237 per month.

MINIMUM INCOME RANGE : $89,480

Income % Distribution
<$20K 18.2%
$20K-$35K 14.3%
$35K-$60K 16.0%
$60K-$100K 25.6%
>=$100K 25.9%
COMMUTE TIME DISTRIBUTION

60% of the working population has a commute time of 15 to 44 minutes, 26% has a commute time of 14 minutes or less and 13% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.0%
5-9 mins 14.2%
10-14 mins 8.9%
15-19 mins 11.6%
20-29 mins 38.2%
30-44 mins 10.6%
45-59 mins 4.1%
>60 mins 9.4%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 86% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,237 per month.

MY RENT : $2,237 MEDIAN RENT : $1,870

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.3%
$1,000-1,499 13.8%
>=$1,500 85.9%
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 $2,237 would therefore be considered affordable for annual household incomes greater than $89,480 (12 months x 3.333 x $2,237).

Rent % Affordability
Above $500 81.8%
Above $700 74.3%
Above $1,100 60.7%
Above $1,500 51.5%
Above $1,900 42.2%
HOUSEHOLD INCOME RANGE

Approximately 380 of households in this neighborhood have a total annual income of $89,480 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,237 per month.

MINIMUM INCOME RANGE : $89,480

Income % Distribution
<$20K 18.2%
$20K-$35K 14.3%
$35K-$60K 16.0%
$60K-$100K 25.6%
>=$100K 25.9%
COMMUTE TIME DISTRIBUTION

60% of the working population has a commute time of 15 to 44 minutes, 26% has a commute time of 14 minutes or less and 13% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 3.0%
5-9 mins 14.2%
10-14 mins 8.9%
15-19 mins 11.6%
20-29 mins 38.2%
30-44 mins 10.6%
45-59 mins 4.1%
>60 mins 9.4%

SUBLIMITY Demographics

INDUSTRY

Industry % Distribution
Construction 9.5%
Educational Services 9.0%
Health Care & Social Assistance 16.4%
Manufacturing 6.2%
Public Administration 15.2%
Retail & Wholesale Trader 9.1%
Other 34.5%
AGE DISTRIBUTION

46% of the population is between the ages of 25 and 64, 28% is 24 or younger and 26% is 65 or older.

Age % Distribution
<15 21.2%
15-19 4.4%
20-24 2.5%
25-44 20.3%
45-65 25.8%
66+ 25.9%
OCCUPATION

Occupation % Distribution
Healthcare 8.2%
Management, Business, & Financial 28.0%
Natural Resources Maintenance 9.0%
Production & Transportation 9.2%
Protect 8.3%
Sales & Office 16.4%
Other 20.8%
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 8.6%
High School 34.5%
Masters Degree 3.6%
Some College 26.7%
Some High School 7.1%
Other 19.6%

344 Nw Melrose St Comps

Sorry, we do not have sufficient data available.

344 Nw Melrose St, Sublimity, OR 97385 is a single family home of 2,393 sqft. HomeUnion INVESTimateĀ® for 344 Nw Melrose St includes a Price Estimate of $454,963 and a Rent Estimate of $2,237. This single family home has 3 bedrooms,3 bathrooms, and was built in 2004. This property has an estimated 15 year annualized Yield of 5.90% and Total Return of 22.26%. The estimated 1 year forecast in home value for 344 Nw Melrose St is 6.53%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in OR , MARION County , or the 97385 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 97358
  2. 97325
  3. 97383