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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

527 Wottons Mill Rd Union, ME 04862

3 Beds 1 Baths 1,092 sqft Built 1985
Last updated:  Jan 23, 2020

INVESTimate

$203,501

$183K - $224K

Price Est.

$1,221

$1.0K - $1.4K

Rent Est.

$213,228  ( +4.78%)   1 YR EST. FORECAST
  
  
  

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527 Wottons Mill Rd PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $186.36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 1 Full

527 Wottons Mill Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
MEDOMAK VALLEY HIGH SCHOOL High Regular 562 42 3

MEDOMAK VALLEY HIGH SCHOOL

  • Education Level: High
  • # of students: 562
  • # of teachers: 42
3
GreatSchools Rating
 

Financial Details

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Neighborhood

UNION

  • 3,857

    POPULATION
  • 1,473

    HOUSEHOLDS
  • 57.8%

    WHITE COLLAR

Neighborhood : UNION

HOUSEHOLDS
1,473
POPULATION

3,857

13.6%Renters
86.4%Home Owners
LABOR FORCE

 

57.8%White Collar
42.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 55% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,221 per month.

MY RENT : $1,221 MEDIAN RENT : $1,097

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.3%
$900-999 19.3%
$1,000-1,499 58.2%
>=$1,500 22.1%
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 $1,221 would therefore be considered affordable for annual household incomes greater than $48,840 (12 months x 3.333 x $1,221).

Rent % Affordability
Above $500 90.3%
Above $700 82.9%
Above $1,100 66.8%
Above $1,500 44.3%
Above $1,900 29.9%
HOUSEHOLD INCOME RANGE

Approximately 743 of households in this neighborhood have a total annual income of $48,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,221 per month.

MINIMUM INCOME RANGE : $48,840

Income % Distribution
<$20K 9.7%
$20K-$35K 13.5%
$35K-$60K 32.5%
$60K-$100K 26.7%
>=$100K 17.5%
COMMUTE TIME DISTRIBUTION

74% of the working population has a commute time of 15 to 44 minutes, 16% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 5.4%
5-9 mins 4.8%
10-14 mins 5.9%
15-19 mins 9.5%
20-29 mins 35.0%
30-44 mins 29.6%
45-59 mins 4.1%
>60 mins 5.8%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 55% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,221 per month.

MY RENT : $1,221 MEDIAN RENT : $1,097

Rent % Distribution
$500-699 0.0%
$700-899 0.3%
$900-999 19.3%
$1,000-1,499 58.2%
>=$1,500 22.1%
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 $1,221 would therefore be considered affordable for annual household incomes greater than $48,840 (12 months x 3.333 x $1,221).

Rent % Affordability
Above $500 90.3%
Above $700 82.9%
Above $1,100 66.8%
Above $1,500 44.3%
Above $1,900 29.9%
HOUSEHOLD INCOME RANGE

Approximately 743 of households in this neighborhood have a total annual income of $48,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,221 per month.

MINIMUM INCOME RANGE : $48,840

Income % Distribution
<$20K 9.7%
$20K-$35K 13.5%
$35K-$60K 32.5%
$60K-$100K 26.7%
>=$100K 17.5%
COMMUTE TIME DISTRIBUTION

74% of the working population has a commute time of 15 to 44 minutes, 16% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 5.4%
5-9 mins 4.8%
10-14 mins 5.9%
15-19 mins 9.5%
20-29 mins 35.0%
30-44 mins 29.6%
45-59 mins 4.1%
>60 mins 5.8%

UNION Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 7.9%
Construction 8.5%
Educational Services 8.5%
Health Care & Social Assistance 13.9%
Manufacturing 11.5%
Retail & Wholesale Trader 17.9%
Other 31.9%
AGE DISTRIBUTION

53% of the population is between the ages of 25 and 64, 30% is 24 or younger and 18% is 65 or older.

Age % Distribution
<15 18.5%
15-19 5.3%
20-24 5.9%
25-44 21.3%
45-65 31.4%
66+ 17.6%
OCCUPATION

Occupation % Distribution
Construction 4.5%
Healthcare 7.1%
Management, Business, & Financial 15.9%
Natural Resources Maintenance 14.1%
Production & Transportation 13.6%
Sales & Office 24.1%
Other 20.6%
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 8.1%
High School 39.5%
Masters Degree 7.5%
Some College 20.3%
Some High School 6.2%
Other 18.4%

527 Wottons Mill Rd Comps

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527 Wottons Mill Rd, Union, ME 04862 is a single family home of 1,092 sqft. HomeUnion INVESTimateĀ® for 527 Wottons Mill Rd includes a Price Estimate of $203,501 and a Rent Estimate of $1,221. This single family home has 3 bedrooms,1 bathrooms, and was built in 1985. This property has an estimated 15 year annualized Yield of 7.20% and Total Return of 15.80%. The estimated 1 year forecast in home value for 527 Wottons Mill Rd is 4.78%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in ME , KNOX County , or the 04862 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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