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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

548 Patterson Rd New Galilee, PA 16141

3 Beds 2 Baths 2,143 sqft Built 1950
Last updated:  Jan 23, 2020

INVESTimate

$120,065

$114K - $126K

Price Est.

$1,134

$1.0K - $1.3K

Rent Est.

$124,315  ( +3.54%)   1 YR EST. FORECAST
  
  
  

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548 Patterson Rd PROPERTY INFO

FACTS
  • Built In 1950
  • Price/Sqft : $56.03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,143 sqft
  • Baths : 1 Full 1 Half

548 Patterson Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
MOHAWK ELEMENTARY SCHOOL Primary Regular 782 52 6
MOHAWK ELEMENTARY SCHOOL Middle Regular 782 52 6
MOHAWK HIGH SCHOOL High Regular 717 54 6

MOHAWK ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 782
  • # of teachers: 52
6
GreatSchools Rating

MOHAWK ELEMENTARY SCHOOL

  • Education Level: Middle
  • # of students: 782
  • # of teachers: 52
6
GreatSchools Rating

MOHAWK HIGH SCHOOL

  • Education Level: High
  • # of students: 717
  • # of teachers: 54
6
GreatSchools Rating
 

Financial Details

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Neighborhood

NEW GALILEE

  • 1,677

    POPULATION
  • 698

    HOUSEHOLDS
  • 51.8%

    WHITE COLLAR

Neighborhood : NEW GALILEE

HOUSEHOLDS
698
POPULATION

1,677

14.1%Renters
85.9%Home Owners
LABOR FORCE

 

51.8%White Collar
48.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 53% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,134 per month.

MY RENT : $1,134 MEDIAN RENT : $1,056

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 7.8%
$900-999 24.4%
$1,000-1,499 57.1%
>=$1,500 10.7%
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 $1,134 would therefore be considered affordable for annual household incomes greater than $45,360 (12 months x 3.333 x $1,134).

Rent % Affordability
Above $500 85.1%
Above $700 73.6%
Above $1,100 55.1%
Above $1,500 42.2%
Above $1,900 29.1%
HOUSEHOLD INCOME RANGE

Approximately 335 of households in this neighborhood have a total annual income of $45,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,134 per month.

MINIMUM INCOME RANGE : $45,360

Income % Distribution
<$20K 14.9%
$20K-$35K 19.7%
$35K-$60K 23.2%
$60K-$100K 25.3%
>=$100K 16.9%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 19% has a commute time of 14 minutes or less and 19% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.1%
5-9 mins 7.7%
10-14 mins 10.5%
15-19 mins 15.6%
20-29 mins 22.8%
30-44 mins 23.5%
45-59 mins 10.7%
>60 mins 8.1%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 53% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,134 per month.

MY RENT : $1,134 MEDIAN RENT : $1,056

Rent % Distribution
$500-699 0.0%
$700-899 7.8%
$900-999 24.4%
$1,000-1,499 57.1%
>=$1,500 10.7%
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 $1,134 would therefore be considered affordable for annual household incomes greater than $45,360 (12 months x 3.333 x $1,134).

Rent % Affordability
Above $500 85.1%
Above $700 73.6%
Above $1,100 55.1%
Above $1,500 42.2%
Above $1,900 29.1%
HOUSEHOLD INCOME RANGE

Approximately 335 of households in this neighborhood have a total annual income of $45,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,134 per month.

MINIMUM INCOME RANGE : $45,360

Income % Distribution
<$20K 14.9%
$20K-$35K 19.7%
$35K-$60K 23.2%
$60K-$100K 25.3%
>=$100K 16.9%
COMMUTE TIME DISTRIBUTION

62% of the working population has a commute time of 15 to 44 minutes, 19% has a commute time of 14 minutes or less and 19% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.1%
5-9 mins 7.7%
10-14 mins 10.5%
15-19 mins 15.6%
20-29 mins 22.8%
30-44 mins 23.5%
45-59 mins 10.7%
>60 mins 8.1%

NEW GALILEE Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 9.8%
Construction 8.9%
Health Care & Social Assistance 16.7%
Manufacturing 14.3%
Retail & Wholesale Trader 10.8%
Transportation 7.8%
Other 31.7%
AGE DISTRIBUTION

52% of the population is between the ages of 25 and 64, 27% is 24 or younger and 21% is 65 or older.

Age % Distribution
<15 15.1%
15-19 4.8%
20-24 7.3%
25-44 18.9%
45-65 33.1%
66+ 20.8%
OCCUPATION

Occupation % Distribution
Computer Engineering 4.6%
Healthcare 10.9%
Management, Business, & Financial 15.5%
Natural Resources Maintenance 17.1%
Production & Transportation 17.7%
Sales & Office 17.9%
Other 16.4%
HIGHEST EDUCATION LEVEL

15% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 8.5%
High School 47.6%
Masters Degree 5.1%
Some College 15.0%
Some High School 10.9%
Other 12.9%

548 Patterson Rd Comps

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548 Patterson Rd, New Galilee, PA 16141 is a single family home of 2,143 sqft. HomeUnion INVESTimateĀ® for 548 Patterson Rd includes a Price Estimate of $120,065 and a Rent Estimate of $1,134. This single family home has 3 bedrooms,2 bathrooms, and was built in 1950. This property has an estimated 15 year annualized Yield of 11.33% and Total Return of 17.35%. The estimated 1 year forecast in home value for 548 Patterson Rd is 3.54%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in PA , LAWRENCE County , or the 16141 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 16157
  2. 16120
  3. 16102