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This page contains information about each property aggregated from public data sources, 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.

53 Bingaman Ln Westfield, PA 16950

1 Beds 1 Baths 924 sqft Built 1986
Last updated:  Nov 28, 2019

INVESTimate

$147,270

$127K - $168K

Price Est.

$757

637 - 877

Rent Est.

$149,671  ( +1.63%)   1 YR EST. FORECAST

53 Bingaman Ln PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $159.38
CONSTRUCTION
  • Beds : 1
  • Floor Size : 924 sqft
  • Baths : 1 Full
PROPERTY DESCRIPTION
53 Bingaman Ln, Westfield, PA 16950 is a single family home of 924 sqft. HomeUnion estimate for 53 Bingaman Ln includes a Price Estimate of $147,270 and a Rent Estimate of $757. This single family home has 1 bedrooms, 1 bathrooms, and was built in 1986. This property has an estimated 15 year annualized Yield of 6.17% and Total Return of 8.97%. The estimated 1 year forecast in home value for 53 Bingaman Ln is 1.63%.
  
  
  

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53 Bingaman Ln SCHOOLS

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Financial Details

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Neighborhood

WESTFIELD

  • 3,423

    POPULATION
  • 1,336

    HOUSEHOLDS
  • 46.4%

    WHITE COLLAR

Neighborhood : WESTFIELD

HOUSEHOLDS
1,336
POPULATION

3,423

25.0%Renters
75.0%Home Owners
LABOR FORCE

 

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

Approximately 78% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $757 per month.

MY RENT : $757 MEDIAN RENT : $850

Rent % Distribution LEVEL
$500-699 4.7%
$700-899 59.2%
$900-999 18.6%
$1,000-1,499 16.8%
>=$1,500 0.8%
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 $757 would therefore be considered affordable for annual household incomes greater than $30,280 (12 months x 3.333 x $757).

Rent % Affordability
Above $500 75.2%
Above $700 64.8%
Above $1,100 44.8%
Above $1,500 28.7%
Above $1,900 18.5%
HOUSEHOLD INCOME RANGE

Approximately 3,045 of households in this neighborhood have a total annual income of $30,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $757 per month.

MINIMUM INCOME RANGE : $30,280

Income % Distribution
<$20K 24.8%
$20K-$35K 18.8%
$35K-$60K 27.8%
$60K-$100K 20.0%
>=$100K 8.7%
COMMUTE TIME DISTRIBUTION

36% of the working population has a commute time of 15 to 44 minutes, 38% has a commute time of 14 minutes or less and 26% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 10.5%
5-9 mins 17.8%
10-14 mins 9.7%
15-19 mins 7.6%
20-29 mins 10.2%
30-44 mins 18.1%
45-59 mins 13.1%
>60 mins 12.9%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 78% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $757 per month.

MY RENT : $757 MEDIAN RENT : $850

Rent % Distribution
$500-699 4.7%
$700-899 59.2%
$900-999 18.6%
$1,000-1,499 16.8%
>=$1,500 0.8%
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 $757 would therefore be considered affordable for annual household incomes greater than $30,280 (12 months x 3.333 x $757).

Rent % Affordability
Above $500 75.2%
Above $700 64.8%
Above $1,100 44.8%
Above $1,500 28.7%
Above $1,900 18.5%
HOUSEHOLD INCOME RANGE

Approximately 3,045 of households in this neighborhood have a total annual income of $30,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $757 per month.

MINIMUM INCOME RANGE : $30,280

Income % Distribution
<$20K 24.8%
$20K-$35K 18.8%
$35K-$60K 27.8%
$60K-$100K 20.0%
>=$100K 8.7%
COMMUTE TIME DISTRIBUTION

36% of the working population has a commute time of 15 to 44 minutes, 38% has a commute time of 14 minutes or less and 26% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 10.5%
5-9 mins 17.8%
10-14 mins 9.7%
15-19 mins 7.6%
20-29 mins 10.2%
30-44 mins 18.1%
45-59 mins 13.1%
>60 mins 12.9%

WESTFIELD Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 6.4%
Educational Services 7.0%
Health Care & Social Assistance 15.7%
Manufacturing 23.5%
Retail & Wholesale Trader 9.3%
Transportation 6.5%
Other 31.6%
AGE DISTRIBUTION

53% of the population is between the ages of 25 and 64, 24% is 24 or younger and 23% is 65 or older.

Age % Distribution
<15 14.7%
15-19 6.1%
20-24 3.0%
25-44 21.9%
45-65 31.5%
66+ 22.8%
OCCUPATION

Occupation % Distribution
Construction 5.3%
Healthcare 6.6%
Management, Business, & Financial 9.1%
Natural Resources Maintenance 14.0%
Production & Transportation 28.7%
Sales & Office 17.6%
Other 18.7%
HIGHEST EDUCATION LEVEL

11% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 7.1%
High School 51.7%
Masters Degree 3.7%
Some College 13.7%
Some High School 17.0%
Other 6.9%

53 Bingaman Ln Comps

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Nearest zipcodes within 2 miles

  1. 16946
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