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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.

601 Canotage Ct Cedar Grove, NC 27231

3 Beds 3 Baths 2,473 sqft Built 1999
Last updated:  Jan 23, 2020

INVESTimate

$614,999

$590K - $640K

Price Est.

$2,145

$1.9K - $2.4K

Rent Est.

$630,989  ( +2.6%)   1 YR EST. FORECAST

601 Canotage Ct PROPERTY INFO

FACTS
  • Built In 1999
  • Price/Sqft : $248.69
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,473 sqft
  • Baths : 2 Full 1 Half
PROPERTY DESCRIPTION
601 Canotage Ct, Cedar Grove, NC 27231 is a single family home of 2,473 sqft. HomeUnion estimate for 601 Canotage Ct includes a Price Estimate of $614,999 and a Rent Estimate of $2,145. This single family home has 3 bedrooms, 3 bathrooms, and was built in 1999. This property has an estimated 15 year annualized Yield of 4.19% and Total Return of 10.21%. The estimated 1 year forecast in home value for 601 Canotage Ct is 2.6%.
  
  
  

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601 Canotage Ct SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
CENTRAL ELEMENTARY SCHOOL Primary Regular 347 25 NA
GRAVELLY HILL MIDDLE SCHOOL Middle Regular 465 37 NA
ORANGE HIGH SCHOOL High Regular 1,212 76 NA

CENTRAL ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 347
  • # of teachers: 25
-1
GreatSchools Rating

GRAVELLY HILL MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 465
  • # of teachers: 37
-1
GreatSchools Rating

ORANGE HIGH SCHOOL

  • Education Level: High
  • # of students: 1,212
  • # of teachers: 76
-1
GreatSchools Rating
 

Financial Details

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Neighborhood

CEDAR GROVE

  • 1,964

    POPULATION
  • 777

    HOUSEHOLDS
  • 64.9%

    WHITE COLLAR

Neighborhood : CEDAR GROVE

HOUSEHOLDS
777
POPULATION

1,964

19.0%Renters
81.0%Home Owners
LABOR FORCE

 

64.9%White Collar
35.1%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 32% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,145 per month.

MY RENT : $2,145 MEDIAN RENT : $1,200

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 5.3%
$900-999 18.4%
$1,000-1,499 44.2%
>=$1,500 32.1%
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 $2,145 would therefore be considered affordable for annual household incomes greater than $85,800 (12 months x 3.333 x $2,145).

Rent % Affordability
Above $500 86.1%
Above $700 76.8%
Above $1,100 60.2%
Above $1,500 47.4%
Above $1,900 37.5%
HOUSEHOLD INCOME RANGE

Approximately 196 of households in this neighborhood have a total annual income of $85,800 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,145 per month.

MINIMUM INCOME RANGE : $85,800

Income % Distribution
<$20K 13.9%
$20K-$35K 17.8%
$35K-$60K 20.9%
$60K-$100K 25.9%
>=$100K 21.5%
COMMUTE TIME DISTRIBUTION

74% of the working population has a commute time of 15 to 44 minutes, 7% 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 1.2%
5-9 mins 1.6%
10-14 mins 4.1%
15-19 mins 10.8%
20-29 mins 30.7%
30-44 mins 32.8%
45-59 mins 9.5%
>60 mins 9.3%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 32% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,145 per month.

MY RENT : $2,145 MEDIAN RENT : $1,200

Rent % Distribution
$500-699 0.0%
$700-899 5.3%
$900-999 18.4%
$1,000-1,499 44.2%
>=$1,500 32.1%
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 $2,145 would therefore be considered affordable for annual household incomes greater than $85,800 (12 months x 3.333 x $2,145).

Rent % Affordability
Above $500 86.1%
Above $700 76.8%
Above $1,100 60.2%
Above $1,500 47.4%
Above $1,900 37.5%
HOUSEHOLD INCOME RANGE

Approximately 196 of households in this neighborhood have a total annual income of $85,800 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,145 per month.

MINIMUM INCOME RANGE : $85,800

Income % Distribution
<$20K 13.9%
$20K-$35K 17.8%
$35K-$60K 20.9%
$60K-$100K 25.9%
>=$100K 21.5%
COMMUTE TIME DISTRIBUTION

74% of the working population has a commute time of 15 to 44 minutes, 7% 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 1.2%
5-9 mins 1.6%
10-14 mins 4.1%
15-19 mins 10.8%
20-29 mins 30.7%
30-44 mins 32.8%
45-59 mins 9.5%
>60 mins 9.3%

CEDAR GROVE Demographics

INDUSTRY

Industry % Distribution
Construction 7.0%
Educational Services 15.0%
Health Care & Social Assistance 17.5%
Manufacturing 9.0%
Professional & Scientific Tech Services 7.2%
Retail & Wholesale Trader 12.6%
Other 31.8%
AGE DISTRIBUTION

53% of the population is between the ages of 25 and 64, 29% is 24 or younger and 18% is 65 or older.

Age % Distribution
<15 18.6%
15-19 5.1%
20-24 5.2%
25-44 21.5%
45-65 31.6%
66+ 17.9%
OCCUPATION

Occupation % Distribution
Computer Engineering 10.3%
Healthcare 9.1%
Management, Business, & Financial 20.4%
Natural Resources Maintenance 12.7%
Production & Transportation 10.0%
Sales & Office 19.3%
Other 18.3%
HIGHEST EDUCATION LEVEL

19% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 9.7%
High School 30.9%
Masters Degree 6.8%
Some College 17.6%
Some High School 13.0%
Other 22.0%

601 Canotage Ct Comps

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