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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

5009 Mill Creek Rd Cedar Grove, NC 27231

3 Beds 2 Baths 1,624 sqft Built 1966
Last updated:  Jan 23, 2020

INVESTimate

$287,190

$276K - $299K

Price Est.

$1,113

997 - $1.2K

Rent Est.

$294,657  ( +2.6%)   1 YR EST. FORECAST
  
  
  

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5009 Mill Creek Rd PROPERTY INFO

FACTS
  • Built In 1966
  • Price/Sqft : $176.84
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 1 Full 1 Half

5009 Mill Creek Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
CENTRAL ELEMENTARY SCHOOL Primary Regular 347 25 NA
GRAVELLY HILL MIDDLE SCHOOL Middle Regular 465 37 NA
ORANGE HIGH SCHOOL High Regular 1,212 76 NA

CENTRAL ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 347
  • # of teachers: 25
-1
GreatSchools Rating

GRAVELLY HILL MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 465
  • # of teachers: 37
-1
GreatSchools Rating

ORANGE HIGH SCHOOL

  • Education Level: High
  • # of students: 1,212
  • # of teachers: 76
-1
GreatSchools Rating
 

Financial Details

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Neighborhood

CEDAR GROVE

  • 1,985

    POPULATION
  • 803

    HOUSEHOLDS
  • 63.0%

    WHITE COLLAR

Neighborhood : CEDAR GROVE

HOUSEHOLDS
803
POPULATION

1,985

19.0%Renters
81.0%Home Owners
LABOR FORCE

 

63.0%White Collar
37.0%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 67% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,113 per month.

MY RENT : $1,113 MEDIAN RENT : $1,204

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 5.4%
$900-999 18.0%
$1,000-1,499 43.9%
>=$1,500 32.7%
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 $1,113 would therefore be considered affordable for annual household incomes greater than $44,520 (12 months x 3.333 x $1,113).

Rent % Affordability
Above $500 84.9%
Above $700 79.7%
Above $1,100 63.1%
Above $1,500 51.1%
Above $1,900 40.2%
HOUSEHOLD INCOME RANGE

Approximately 453 of households in this neighborhood have a total annual income of $44,520 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,113 per month.

MINIMUM INCOME RANGE : $44,520

Income % Distribution
<$20K 15.1%
$20K-$35K 12.7%
$35K-$60K 21.1%
$60K-$100K 28.5%
>=$100K 22.6%
COMMUTE TIME DISTRIBUTION

71% of the working population has a commute time of 15 to 44 minutes, 9% has a commute time of 14 minutes or less and 21% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.0%
5-9 mins 2.1%
10-14 mins 4.5%
15-19 mins 11.9%
20-29 mins 25.9%
30-44 mins 32.8%
45-59 mins 10.5%
>60 mins 10.2%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 67% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,113 per month.

MY RENT : $1,113 MEDIAN RENT : $1,204

Rent % Distribution
$500-699 0.0%
$700-899 5.4%
$900-999 18.0%
$1,000-1,499 43.9%
>=$1,500 32.7%
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 $1,113 would therefore be considered affordable for annual household incomes greater than $44,520 (12 months x 3.333 x $1,113).

Rent % Affordability
Above $500 84.9%
Above $700 79.7%
Above $1,100 63.1%
Above $1,500 51.1%
Above $1,900 40.2%
HOUSEHOLD INCOME RANGE

Approximately 453 of households in this neighborhood have a total annual income of $44,520 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,113 per month.

MINIMUM INCOME RANGE : $44,520

Income % Distribution
<$20K 15.1%
$20K-$35K 12.7%
$35K-$60K 21.1%
$60K-$100K 28.5%
>=$100K 22.6%
COMMUTE TIME DISTRIBUTION

71% of the working population has a commute time of 15 to 44 minutes, 9% has a commute time of 14 minutes or less and 21% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.0%
5-9 mins 2.1%
10-14 mins 4.5%
15-19 mins 11.9%
20-29 mins 25.9%
30-44 mins 32.8%
45-59 mins 10.5%
>60 mins 10.2%

CEDAR GROVE Demographics

INDUSTRY

Industry % Distribution
Construction 8.9%
Educational Services 16.3%
Health Care & Social Assistance 14.4%
Manufacturing 9.2%
Professional & Scientific Tech Services 7.0%
Retail & Wholesale Trader 14.0%
Other 30.2%
AGE DISTRIBUTION

51% of the population is between the ages of 25 and 64, 27% is 24 or younger and 23% is 65 or older.

Age % Distribution
<15 14.0%
15-19 6.6%
20-24 6.0%
25-44 18.6%
45-65 32.0%
66+ 22.8%
OCCUPATION

Occupation % Distribution
Computer Engineering 9.3%
Healthcare 9.5%
Management, Business, & Financial 17.2%
Natural Resources Maintenance 14.9%
Production & Transportation 12.4%
Sales & Office 21.0%
Other 15.6%
HIGHEST EDUCATION LEVEL

21% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 11.7%
High School 31.0%
Masters Degree 6.9%
Some College 16.4%
Some High School 13.0%
Other 21.0%

5009 Mill Creek Rd Comps

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5009 Mill Creek Rd, Cedar Grove, NC 27231 is a single family home of 1,624 sqft. HomeUnion INVESTimateĀ® for 5009 Mill Creek Rd includes a Price Estimate of $287,190 and a Rent Estimate of $1,113. This single family home has 3 bedrooms,2 bathrooms, and was built in 1966. This property has an estimated 15 year annualized Yield of 4.65% and Total Return of 11.88%. The estimated 1 year forecast in home value for 5009 Mill Creek Rd is 2.6%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in NC , ORANGE County , or the 27231 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 27243
  2. 27278