Financials
525 W 3rd Ave 501 Anchorage, AK 99501
INVESTimate
$54,931
REAL ESTATE INVESTMENT PROPERTIES IN HOMEUNION
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525 W 3rd Ave 501 PROPERTY INFO
FACTS
- Built In 1950
- Price/Sqft : $262.46
CONSTRUCTION
- Beds : 1
- Floor Size : 591 sqft
- Baths : 1 Full
525 W 3rd Ave 501 SCHOOLS
Financial Details
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Downtown Anchorage
Neighborhood : Downtown Anchorage
DISTRIBUTION OF RENTS IN NEIGHBORHOOD
Approximately 54% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,453 per month.
MY RENT : $1,453 MEDIAN RENT : $1,496
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 $1,453 would therefore be considered affordable for annual household incomes greater than $58,120 (12 months x 3.333 x $1,453).
HOUSEHOLD INCOME RANGE
Approximately 332 of households in this neighborhood have a total annual income of $58,120 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,453 per month.
MINIMUM INCOME RANGE : $58,120
COMMUTE TIME DISTRIBUTION
43% of the working population has a commute time of 15 to 44 minutes, 53% has a commute time of 14 minutes or less and 5% has a commute time of 45 minutes or longer.
Downtown Anchorage Demographics
INDUSTRY
| Industry | % Distribution |
|---|---|
| Arts & Entertainment | 9.9% |
| Construction | 5.8% |
| Health Care & Social Assistance | 19.3% |
| Professional & Scientific Tech Services | 9.4% |
| Public Administration | 8.8% |
| Retail & Wholesale Trader | 17.3% |
| Other | 29.4% |
AGE DISTRIBUTION
71% of the population is between the ages of 25 and 64, 18% is 24 or younger and 11% is 65 or older.
| Age | % Distribution |
|---|---|
| <15 | 4.2% |
| 15-19 | 5.9% |
| 20-24 | 8.4% |
| 25-44 | 33.7% |
| 45-65 | 37.1% |
| 66+ | 10.7% |
OCCUPATION
| Occupation | % Distribution |
|---|---|
| Healthcare | 10.2% |
| Legal | 5.9% |
| Management, Business, & Financial | 26.2% |
| Natural Resources Maintenance | 9.8% |
| Production & Transportation | 8.5% |
| Sales & Office | 21.2% |
| Other | 18.3% |
HIGHEST EDUCATION LEVEL
20% of adults 25 and older have an education level of a bachelor's degree or higher.
| Education Level | % Distribution |
|---|---|
| Associates Degree | 6.2% |
| High School | 27.0% |
| Masters Degree | 7.7% |
| Some College | 24.1% |
| Some High School | 9.7% |
| Other | 25.4% |
525 W 3rd Ave 501 Comps
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525 W 3rd Ave 501, Anchorage, AK 99501 is a single family home of 591 sqft. HomeUnion INVESTimate® for 525 W 3rd Ave 501 includes a Price Estimate of $155,111 and a Rent Estimate of $1,453. This single family home has 1 bedrooms,1 bathrooms, and was built in 1950. This property has an estimated 15 year annualized Yield of 11.24% and Total Return of 21.67%. The estimated 1 year forecast in home value for 525 W 3rd Ave 501 is 3.99%.
Looking for real estate investment properties in this area? You can browse additional properties and view investment data in AK, ANCHORAGE County, or the 99501 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2
