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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

508 W 4th St Homer, IL 61849

0 Beds 2 Baths 1,260 sqft Built 1965
Last updated:  Nov 28, 2019

INVESTimate

$229,582

$215K - $244K

Price Est.

$1,171

$1.1K - $1.3K

Rent Est.

$234,197  ( +2.01%)   1 YR EST. FORECAST
  
  
  

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508 W 4th St PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $182.21
CONSTRUCTION
  • Beds : 0
  • Floor Size : 1,260 sqft
  • Baths : 1 Full 1 Half

508 W 4th St SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
HERITAGE JR HIGH SCHOOL Middle Regular 114 8 6
HERITAGE HIGH SCHOOL High Regular 155 15 6

HERITAGE JR HIGH SCHOOL

  • Education Level: Middle
  • # of students: 114
  • # of teachers: 8
6
GreatSchools Rating

HERITAGE HIGH SCHOOL

  • Education Level: High
  • # of students: 155
  • # of teachers: 15
6
GreatSchools Rating
 

Financial Details

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Neighborhood

HOMER

  • 1,941

    POPULATION
  • 756

    HOUSEHOLDS
  • 53.6%

    WHITE COLLAR

Neighborhood : HOMER

HOUSEHOLDS
756
POPULATION

1,941

15.0%Renters
85.0%Home Owners
LABOR FORCE

 

53.6%White Collar
46.4%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 34% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,171 per month.

MY RENT : $1,171 MEDIAN RENT : $991

Rent % Distribution LEVEL
$500-699 4.4%
$700-899 29.5%
$900-999 17.0%
$1,000-1,499 43.3%
>=$1,500 5.9%
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 $1,171 would therefore be considered affordable for annual household incomes greater than $46,840 (12 months x 3.333 x $1,171).

Rent % Affordability
Above $500 91.2%
Above $700 84.7%
Above $1,100 71.1%
Above $1,500 51.7%
Above $1,900 41.0%
HOUSEHOLD INCOME RANGE

Approximately 431 of households in this neighborhood have a total annual income of $46,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,171 per month.

MINIMUM INCOME RANGE : $46,840

Income % Distribution
<$20K 8.8%
$20K-$35K 14.6%
$35K-$60K 24.9%
$60K-$100K 26.7%
>=$100K 25.1%
COMMUTE TIME DISTRIBUTION

76% of the working population has a commute time of 15 to 44 minutes, 15% has a commute time of 14 minutes or less and 9% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.9%
5-9 mins 6.4%
10-14 mins 4.1%
15-19 mins 8.1%
20-29 mins 32.6%
30-44 mins 35.3%
45-59 mins 6.5%
>60 mins 2.1%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 34% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,171 per month.

MY RENT : $1,171 MEDIAN RENT : $991

Rent % Distribution
$500-699 4.4%
$700-899 29.5%
$900-999 17.0%
$1,000-1,499 43.3%
>=$1,500 5.9%
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 $1,171 would therefore be considered affordable for annual household incomes greater than $46,840 (12 months x 3.333 x $1,171).

Rent % Affordability
Above $500 91.2%
Above $700 84.7%
Above $1,100 71.1%
Above $1,500 51.7%
Above $1,900 41.0%
HOUSEHOLD INCOME RANGE

Approximately 431 of households in this neighborhood have a total annual income of $46,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,171 per month.

MINIMUM INCOME RANGE : $46,840

Income % Distribution
<$20K 8.8%
$20K-$35K 14.6%
$35K-$60K 24.9%
$60K-$100K 26.7%
>=$100K 25.1%
COMMUTE TIME DISTRIBUTION

76% of the working population has a commute time of 15 to 44 minutes, 15% has a commute time of 14 minutes or less and 9% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.9%
5-9 mins 6.4%
10-14 mins 4.1%
15-19 mins 8.1%
20-29 mins 32.6%
30-44 mins 35.3%
45-59 mins 6.5%
>60 mins 2.1%

HOMER Demographics

INDUSTRY

Industry % Distribution
Educational Services 14.0%
Health Care & Social Assistance 12.7%
Manufacturing 8.7%
Public Administration 7.1%
Retail & Wholesale Trader 23.6%
Transportation 6.0%
Other 27.9%
AGE DISTRIBUTION

50% of the population is between the ages of 25 and 64, 33% is 24 or younger and 16% is 65 or older.

Age % Distribution
<15 21.5%
15-19 5.5%
20-24 6.4%
25-44 22.2%
45-65 28.2%
66+ 16.2%
OCCUPATION

Occupation % Distribution
Healthcare 6.2%
Management, Business, & Financial 17.8%
Natural Resources Maintenance 12.9%
Production & Transportation 19.7%
Protect 6.6%
Sales & Office 22.9%
Other 13.8%
HIGHEST EDUCATION LEVEL

17% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 10.0%
High School 39.3%
Masters Degree 6.2%
Some College 25.2%
Some High School 5.0%
Other 14.4%

508 W 4th St Comps

Sorry, we do not have sufficient data available.

508 W 4th St, Homer, IL 61849 is a single family home of 1,260 sqft. HomeUnion INVESTimateĀ® for 508 W 4th St includes a Price Estimate of $229,582 and a Rent Estimate of $1,171. This single family home has 0 bedrooms,2 bathrooms, and was built in 1965. This property has an estimated 15 year annualized Yield of 6.12% and Total Return of 8.00%. The estimated 1 year forecast in home value for 508 W 4th St is 2.01%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in IL , CHAMPAIGN County , or the 61849 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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