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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

7 Forest Ridge Rd Prospect, CT 06712

4 Beds 4 Baths 4,533 sqft Built 2000
Last updated:  Jan 23, 2020

INVESTimate

$397,162

$384K - $411K

Price Est.

$3,436

$3.0K - $3.8K

Rent Est.

$403,080  ( +1.49%)   1 YR EST. FORECAST
  
  
  

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7 Forest Ridge Rd PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $87.62
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,533 sqft
  • Baths : 4 Full

7 Forest Ridge Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
DOOLITTLE SCHOOL Primary Regular 537 33 8
DODD MIDDLE SCHOOL Middle Regular 774 56 9
CHESHIRE HIGH SCHOOL High Regular 1,549 103 9

DOOLITTLE SCHOOL

  • Education Level: Primary
  • # of students: 537
  • # of teachers: 33
8
GreatSchools Rating

DODD MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 56
9
GreatSchools Rating

CHESHIRE HIGH SCHOOL

  • Education Level: High
  • # of students: 1,549
  • # of teachers: 103
9
GreatSchools Rating
 

Financial Details

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Neighborhood

PROSPECT

  • 9,707

    POPULATION
  • 3,298

    HOUSEHOLDS
  • 67.8%

    WHITE COLLAR

Neighborhood : PROSPECT

HOUSEHOLDS
3,298
POPULATION

9,707

11.7%Renters
88.3%Home Owners
LABOR FORCE

 

67.8%White Collar
32.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 92% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $3,436 per month.

MY RENT : $3,436 MEDIAN RENT : $1,898

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 7.6%
>=$1,500 92.4%
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 $3,436 would therefore be considered affordable for annual household incomes greater than $137,440 (12 months x 3.333 x $3,436).

Rent % Affordability
Above $500 94.8%
Above $700 91.3%
Above $1,100 82.8%
Above $1,500 75.0%
Above $1,900 65.0%
HOUSEHOLD INCOME RANGE

Approximately 768 of households in this neighborhood have a total annual income of $137,440 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $3,436 per month.

MINIMUM INCOME RANGE : $137,440

Income % Distribution
<$20K 5.2%
$20K-$35K 7.4%
$35K-$60K 12.4%
$60K-$100K 23.3%
>=$100K 51.7%
COMMUTE TIME DISTRIBUTION

67% of the working population has a commute time of 15 to 44 minutes, 20% has a commute time of 14 minutes or less and 13% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.8%
5-9 mins 9.3%
10-14 mins 8.8%
15-19 mins 13.9%
20-29 mins 22.4%
30-44 mins 30.9%
45-59 mins 9.5%
>60 mins 3.5%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 92% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $3,436 per month.

MY RENT : $3,436 MEDIAN RENT : $1,898

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 7.6%
>=$1,500 92.4%
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 $3,436 would therefore be considered affordable for annual household incomes greater than $137,440 (12 months x 3.333 x $3,436).

Rent % Affordability
Above $500 94.8%
Above $700 91.3%
Above $1,100 82.8%
Above $1,500 75.0%
Above $1,900 65.0%
HOUSEHOLD INCOME RANGE

Approximately 768 of households in this neighborhood have a total annual income of $137,440 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $3,436 per month.

MINIMUM INCOME RANGE : $137,440

Income % Distribution
<$20K 5.2%
$20K-$35K 7.4%
$35K-$60K 12.4%
$60K-$100K 23.3%
>=$100K 51.7%
COMMUTE TIME DISTRIBUTION

67% of the working population has a commute time of 15 to 44 minutes, 20% has a commute time of 14 minutes or less and 13% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.8%
5-9 mins 9.3%
10-14 mins 8.8%
15-19 mins 13.9%
20-29 mins 22.4%
30-44 mins 30.9%
45-59 mins 9.5%
>60 mins 3.5%

PROSPECT Demographics

INDUSTRY

Industry % Distribution
Construction 5.8%
Educational Services 11.0%
Health Care & Social Assistance 20.8%
Manufacturing 15.1%
Retail & Wholesale Trader 12.7%
Transportation 5.3%
Other 29.2%
AGE DISTRIBUTION

54% of the population is between the ages of 25 and 64, 27% is 24 or younger and 19% is 65 or older.

Age % Distribution
<15 15.4%
15-19 6.2%
20-24 5.2%
25-44 23.0%
45-65 31.0%
66+ 19.1%
OCCUPATION

Occupation % Distribution
Construction 8.5%
Healthcare 10.9%
Management, Business, & Financial 19.1%
Natural Resources Maintenance 11.9%
Production & Transportation 11.7%
Sales & Office 20.3%
Other 17.5%
HIGHEST EDUCATION LEVEL

23% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 9.3%
High School 30.2%
Masters Degree 11.3%
Some College 16.1%
Some High School 6.5%
Other 26.6%

7 Forest Ridge Rd Comps

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7 Forest Ridge Rd, Prospect, CT 06712 is a single family home of 4,533 sqft. HomeUnion INVESTimateĀ® for 7 Forest Ridge Rd includes a Price Estimate of $397,162 and a Rent Estimate of $3,436. This single family home has 4 bedrooms,4 bathrooms, and was built in 2000. This property has an estimated 15 year annualized Yield of 10.38% and Total Return of 9.49%. The estimated 1 year forecast in home value for 7 Forest Ridge Rd is 1.49%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in CT , NEW HAVEN County , or the 06712 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Nearest zipcodes within 2 miles

  1. 06410