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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

647 40th St Summerland Key, FL 33042

3 Beds 2 Baths 1,096 sqft Built 1953
Last updated:  Dec 26, 2019

INVESTimate

$273,402

$260K - $287K

Price Est.

$2,721

$2.4K - $3.0K

Rent Est.

$287,920  ( +5.31%)   1 YR EST. FORECAST
  
  
  

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647 40th St PROPERTY INFO

FACTS
  • Built In 1953
  • Price/Sqft : $249.45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,096 sqft
  • Baths : 2 Full

647 40th St SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
SUGARLOAF SCHOOL Primary Regular 601 39 7
SUGARLOAF SCHOOL Middle Regular 601 39 7
KEY WEST HIGH SCHOOL High Regular 1,232 72 6

SUGARLOAF SCHOOL

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 39
7
GreatSchools Rating

SUGARLOAF SCHOOL

  • Education Level: Middle
  • # of students: 601
  • # of teachers: 39
7
GreatSchools Rating

KEY WEST HIGH SCHOOL

  • Education Level: High
  • # of students: 1,232
  • # of teachers: 72
6
GreatSchools Rating
 

Financial Details

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Neighborhood

SUMMERLAND KEY

  • 7,199

    POPULATION
  • 3,107

    HOUSEHOLDS
  • 62.0%

    WHITE COLLAR

Neighborhood : SUMMERLAND KEY

HOUSEHOLDS
3,107
POPULATION

7,199

25.9%Renters
74.1%Home Owners
LABOR FORCE

 

62.0%White Collar
38.0%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 100% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,721 per month.

MY RENT : $2,721 MEDIAN RENT : $3,800

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 0.0%
>=$1,500 100.0%
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 $2,721 would therefore be considered affordable for annual household incomes greater than $108,840 (12 months x 3.333 x $2,721).

Rent % Affordability
Above $500 91.9%
Above $700 87.5%
Above $1,100 74.7%
Above $1,500 63.8%
Above $1,900 52.7%
HOUSEHOLD INCOME RANGE

Approximately 629 of households in this neighborhood have a total annual income of $108,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,721 per month.

MINIMUM INCOME RANGE : $108,840

Income % Distribution
<$20K 8.1%
$20K-$35K 10.8%
$35K-$60K 17.3%
$60K-$100K 27.9%
>=$100K 35.9%
COMMUTE TIME DISTRIBUTION

57% of the working population has a commute time of 15 to 44 minutes, 29% has a commute time of 14 minutes or less and 14% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 7.2%
5-9 mins 10.8%
10-14 mins 11.0%
15-19 mins 6.2%
20-29 mins 16.4%
30-44 mins 34.8%
45-59 mins 9.2%
>60 mins 4.3%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 100% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,721 per month.

MY RENT : $2,721 MEDIAN RENT : $3,800

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 0.0%
>=$1,500 100.0%
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 $2,721 would therefore be considered affordable for annual household incomes greater than $108,840 (12 months x 3.333 x $2,721).

Rent % Affordability
Above $500 91.9%
Above $700 87.5%
Above $1,100 74.7%
Above $1,500 63.8%
Above $1,900 52.7%
HOUSEHOLD INCOME RANGE

Approximately 629 of households in this neighborhood have a total annual income of $108,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,721 per month.

MINIMUM INCOME RANGE : $108,840

Income % Distribution
<$20K 8.1%
$20K-$35K 10.8%
$35K-$60K 17.3%
$60K-$100K 27.9%
>=$100K 35.9%
COMMUTE TIME DISTRIBUTION

57% of the working population has a commute time of 15 to 44 minutes, 29% has a commute time of 14 minutes or less and 14% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 7.2%
5-9 mins 10.8%
10-14 mins 11.0%
15-19 mins 6.2%
20-29 mins 16.4%
30-44 mins 34.8%
45-59 mins 9.2%
>60 mins 4.3%

SUMMERLAND KEY Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 16.5%
Construction 9.8%
Health Care & Social Assistance 9.1%
Public Administration 10.9%
Retail & Wholesale Trader 12.7%
Transportation 7.6%
Other 33.4%
AGE DISTRIBUTION

57% of the population is between the ages of 25 and 64, 16% is 24 or younger and 26% is 65 or older.

Age % Distribution
<15 10.0%
15-19 2.4%
20-24 3.9%
25-44 23.6%
45-65 33.9%
66+ 26.3%
OCCUPATION

Occupation % Distribution
Construction 5.1%
Healthcare 7.8%
Management, Business, & Financial 20.6%
Natural Resources Maintenance 15.2%
Production & Transportation 7.8%
Sales & Office 20.1%
Other 23.4%
HIGHEST EDUCATION LEVEL

21% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 7.8%
High School 25.1%
Masters Degree 8.1%
Some College 22.7%
Some High School 5.0%
Other 31.4%

647 40th St Comps

Sorry, we do not have sufficient data available.

647 40th St, Summerland Key, FL 33042 is a single family home of 1,096 sqft. HomeUnion INVESTimate¬ģ for 647 40th St includes a Price Estimate of $273,402 and a Rent Estimate of $2,721. This single family home has 3 bedrooms,2 bathrooms, and was built in 1953. This property has an estimated 15 year annualized Yield of 11.94% and Total Return of 32.69%. The estimated 1 year forecast in home value for 647 40th St is 5.31%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in FL , MONROE County , or the 33042 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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