Sell Your Property on INVESTimate

Easily ACcess a network of motivated buyers
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

...MORE

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

701 Mill Ave Elgin, IA 52141

4 Beds 2 Baths 1,358 sqft Built 1886
Last updated:  Dec 26, 2019

INVESTimate

$68,943

$65.6K - $72.3K

Price Est.

$997

872 - $1.1K

Rent Est.

$70,777  ( +2.66%)   1 YR EST. FORECAST
  
  
  

The following properties with Estimated Highest Gross Yields are available in other markets.

  • 27440 N ALMA SCHOOL Parkway #33-2 Scottsdale, AZ
    • 3 beds 3 baths ∙ 3,014 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,014 Sqft ∙ Built 2005
    AVAILABLE
    • 15.68% GROSS YIELD
    • $13,349 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $225,000
    • $65,375
    • $2,940
  • 1206 WALES DRIVE Killeen, TX
    • 5 beds 3 baths ∙ 4,444 Sqft ∙ Built 1975 ∙ 2units 5 beds 3 baths ∙ 4,444 Sqft ∙ Built 1975 ∙ 2units
    AVAILABLE
    • 15.00% GROSS YIELD
    • $10,563 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $160,000
    • $53,900
    • $2,000
  • 3349 JAPONICA RD N JACKSONVILLE, FL
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 1955
    AVAILABLE
    • 14.68% GROSS YIELD
    • $6,334 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $85,000
    • $28,275
    • $1,040
  • 1424 BRETON RD JACKSONVILLE, FL
    • 3 beds 1 baths ∙ 1,337 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,337 Sqft ∙ Built 1950
    AVAILABLE
    • 14.27% GROSS YIELD
    • $5,871 NET OPERATING INCOME
    • Purchase Price
    • Investment
    • Projected Rent
    • $79,900
    • $26,924
    • $950

701 Mill Ave PROPERTY INFO

FACTS
  • Built In 1886
  • Price/Sqft : $50.77
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,358 sqft
  • Baths : 2 Full

701 Mill Ave SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
VALLEY ELEMENTARY SCHOOL Primary Regular 202 17 5
VALLEY HIGH SCHOOL Middle Regular 266 20 NA
VALLEY HIGH SCHOOL High Regular 266 20 NA

VALLEY ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 202
  • # of teachers: 17
5
GreatSchools Rating

VALLEY HIGH SCHOOL

  • Education Level: Middle
  • # of students: 266
  • # of teachers: 20
0
GreatSchools Rating

VALLEY HIGH SCHOOL

  • Education Level: High
  • # of students: 266
  • # of teachers: 20
0
GreatSchools Rating
 

Financial Details

See Financial Details

To review the detailed projections for this property, sign up for a FREE account

Already have an account?
Neighborhood

ELGIN

  • 1,407

    POPULATION
  • 577

    HOUSEHOLDS
  • 52.8%

    WHITE COLLAR

Neighborhood : ELGIN

HOUSEHOLDS
577
POPULATION

1,407

21.4%Renters
78.6%Home Owners
LABOR FORCE

 

52.8%White Collar
47.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 31% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $997 per month.

MY RENT : $997 MEDIAN RENT : $891

Rent % Distribution LEVEL
$400-699 23.0%
$700-899 28.9%
$900-999 17.3%
$1,000-1,499 28.4%
>=$1,500 2.4%
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 $997 would therefore be considered affordable for annual household incomes greater than $39,880 (12 months x 3.333 x $997).

Rent % Affordability
Above $500 89.4%
Above $700 82.8%
Above $1,100 62.3%
Above $1,500 38.5%
Above $1,900 22.3%
HOUSEHOLD INCOME RANGE

Approximately 291 of households in this neighborhood have a total annual income of $39,880 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $997 per month.

MINIMUM INCOME RANGE : $39,880

Income % Distribution
<$20K 10.6%
$20K-$35K 15.4%
$35K-$60K 35.5%
$60K-$100K 26.2%
>=$100K 12.3%
COMMUTE TIME DISTRIBUTION

57% of the working population has a commute time of 15 to 44 minutes, 30% 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 8.9%
5-9 mins 11.3%
10-14 mins 9.5%
15-19 mins 24.8%
20-29 mins 22.1%
30-44 mins 10.3%
45-59 mins 9.0%
>60 mins 4.0%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 31% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $997 per month.

MY RENT : $997 MEDIAN RENT : $891

Rent % Distribution
$400-699 23.0%
$700-899 28.9%
$900-999 17.3%
$1,000-1,499 28.4%
>=$1,500 2.4%
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 $997 would therefore be considered affordable for annual household incomes greater than $39,880 (12 months x 3.333 x $997).

Rent % Affordability
Above $500 89.4%
Above $700 82.8%
Above $1,100 62.3%
Above $1,500 38.5%
Above $1,900 22.3%
HOUSEHOLD INCOME RANGE

Approximately 291 of households in this neighborhood have a total annual income of $39,880 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $997 per month.

MINIMUM INCOME RANGE : $39,880

Income % Distribution
<$20K 10.6%
$20K-$35K 15.4%
$35K-$60K 35.5%
$60K-$100K 26.2%
>=$100K 12.3%
COMMUTE TIME DISTRIBUTION

57% of the working population has a commute time of 15 to 44 minutes, 30% 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 8.9%
5-9 mins 11.3%
10-14 mins 9.5%
15-19 mins 24.8%
20-29 mins 22.1%
30-44 mins 10.3%
45-59 mins 9.0%
>60 mins 4.0%

ELGIN Demographics

INDUSTRY

Industry % Distribution
Agriculture, Fishing & Game 9.4%
Construction 8.7%
Educational Services 11.5%
Health Care & Social Assistance 17.1%
Manufacturing 12.6%
Retail & Wholesale Trader 17.6%
Other 23.1%
AGE DISTRIBUTION

48% of the population is between the ages of 25 and 64, 31% is 24 or younger and 21% is 65 or older.

Age % Distribution
<15 20.1%
15-19 6.0%
20-24 4.4%
25-44 22.7%
45-65 25.4%
66+ 21.3%
OCCUPATION

Occupation % Distribution
Healthcare 7.7%
Management, Business, & Financial 21.7%
Natural Resources Maintenance 16.9%
PCare 5.5%
Production & Transportation 18.3%
Sales & Office 16.1%
Other 13.8%
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 9.9%
High School 38.3%
Masters Degree 4.6%
Some College 27.6%
Some High School 5.2%
Other 14.4%

701 Mill Ave Comps

Sorry, we do not have sufficient data available.

701 Mill Ave, Elgin, IA 52141 is a single family home of 1,358 sqft. HomeUnion INVESTimateĀ® for 701 Mill Ave includes a Price Estimate of $68,943 and a Rent Estimate of $997. This single family home has 4 bedrooms,2 bathrooms, and was built in 1886. This property has an estimated 15 year annualized Yield of 17.35% and Total Return of 28.05%. The estimated 1 year forecast in home value for 701 Mill Ave is 2.66%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in IA , FAYETTE County , or the 52141 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

Similar Investment Properties By Bed/Bath within 2 miles

  1. 908 Hidden Valley Dr
  2. 303 Main St
  3. 306 Main St
  4. 206 Scenic Heights Dr
  5. 21523 A Ave

Nearest zipcodes within 2 miles

No Zipcodes available