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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

649 Bussell Rd Olin, NC 28660

3 Beds 2 Baths 840 sqft Built 1998
Last updated:  Jan 23, 2020

INVESTimate

$110,989

$105K - $117K

Price Est.

$738

696 - 780

Rent Est.

$118,004  ( +6.32%)   1 YR EST. FORECAST
  
  
  

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649 Bussell Rd PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $132.13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 840 sqft
  • Baths : 2 Full

649 Bussell Rd SCHOOLS

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Financial Details

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Neighborhood

OLIN

  • 2,420

    POPULATION
  • 872

    HOUSEHOLDS
  • 45.6%

    WHITE COLLAR

Neighborhood : OLIN

HOUSEHOLDS
872
POPULATION

2,420

26.4%Renters
73.6%Home Owners
LABOR FORCE

 

45.6%White Collar
54.4%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 85% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $738 per month.

MY RENT : $738 MEDIAN RENT : $879

Rent % Distribution LEVEL
$500-699 6.1%
$700-899 45.4%
$900-999 12.2%
$1,000-1,499 31.4%
>=$1,500 5.0%
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 $738 would therefore be considered affordable for annual household incomes greater than $29,520 (12 months x 3.333 x $738).

Rent % Affordability
Above $500 85.9%
Above $700 76.3%
Above $1,100 53.4%
Above $1,500 39.3%
Above $1,900 25.3%
HOUSEHOLD INCOME RANGE

Approximately 2,142 of households in this neighborhood have a total annual income of $29,520 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $738 per month.

MINIMUM INCOME RANGE : $29,520

Income % Distribution
<$20K 14.1%
$20K-$35K 19.7%
$35K-$60K 26.9%
$60K-$100K 25.1%
>=$100K 14.3%
COMMUTE TIME DISTRIBUTION

61% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 15% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.4%
5-9 mins 10.7%
10-14 mins 8.9%
15-19 mins 16.6%
20-29 mins 23.8%
30-44 mins 20.7%
45-59 mins 10.3%
>60 mins 4.5%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 85% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $738 per month.

MY RENT : $738 MEDIAN RENT : $879

Rent % Distribution
$500-699 6.1%
$700-899 45.4%
$900-999 12.2%
$1,000-1,499 31.4%
>=$1,500 5.0%
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 $738 would therefore be considered affordable for annual household incomes greater than $29,520 (12 months x 3.333 x $738).

Rent % Affordability
Above $500 85.9%
Above $700 76.3%
Above $1,100 53.4%
Above $1,500 39.3%
Above $1,900 25.3%
HOUSEHOLD INCOME RANGE

Approximately 2,142 of households in this neighborhood have a total annual income of $29,520 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $738 per month.

MINIMUM INCOME RANGE : $29,520

Income % Distribution
<$20K 14.1%
$20K-$35K 19.7%
$35K-$60K 26.9%
$60K-$100K 25.1%
>=$100K 14.3%
COMMUTE TIME DISTRIBUTION

61% of the working population has a commute time of 15 to 44 minutes, 24% has a commute time of 14 minutes or less and 15% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.4%
5-9 mins 10.7%
10-14 mins 8.9%
15-19 mins 16.6%
20-29 mins 23.8%
30-44 mins 20.7%
45-59 mins 10.3%
>60 mins 4.5%

OLIN Demographics

INDUSTRY

Industry % Distribution
Construction 6.9%
Educational Services 10.6%
Health Care & Social Assistance 9.8%
Manufacturing 22.2%
Retail & Wholesale Trader 18.3%
Transportation 7.3%
Other 24.9%
AGE DISTRIBUTION

54% of the population is between the ages of 25 and 64, 28% is 24 or younger and 17% is 65 or older.

Age % Distribution
<15 15.4%
15-19 8.2%
20-24 4.8%
25-44 24.1%
45-65 30.2%
66+ 17.3%
OCCUPATION

Occupation % Distribution
Healthcare 7.6%
Management, Business, & Financial 14.0%
Natural Resources Maintenance 20.2%
Production & Transportation 28.1%
Protect 5.1%
Sales & Office 13.3%
Other 11.7%
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 10.2%
High School 38.0%
Masters Degree 3.9%
Some College 22.1%
Some High School 13.6%
Other 12.1%

649 Bussell Rd Comps

Sorry, we do not have sufficient data available.

649 Bussell Rd, Olin, NC 28660 is a single family home of 840 sqft. HomeUnion INVESTimateĀ® for 649 Bussell Rd includes a Price Estimate of $110,989 and a Rent Estimate of $738. This single family home has 3 bedrooms,2 bathrooms, and was built in 1998. This property has an estimated 15 year annualized Yield of 7.98% and Total Return of 21.75%. The estimated 1 year forecast in home value for 649 Bussell Rd is 6.32%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in NC , IREDELL County , or the 28660 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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Nearest zipcodes within 2 miles

  1. 28625