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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

7040 Penn Ave Pittsburgh, PA 15208

6 Beds 3 Baths 3,209 sqft Built 1907
Last updated:  Oct 23, 2019

INVESTimate

$194,797

$181K - $208K

Price Est.

$2,169

$1.8K - $2.5K

Rent Est.

$208,978  ( +7.28%)   1 YR EST. FORECAST
  
  
  

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7040 Penn Ave PROPERTY INFO

FACTS
  • Built In 1907
  • Price/Sqft : $60.70
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,209 sqft
  • Baths : 3 Full

7040 Penn Ave SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
MINADEO K-5 SCHOOL Primary Regular 550 34 3
STERRETT MIDDLE SCHOOL Middle Magnet 399 26 4
ALLDERDICE HIGH SCHOOL High Magnet 1,352 100 5

MINADEO K-5 SCHOOL

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 34
3
GreatSchools Rating

STERRETT MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 399
  • # of teachers: 26
4
GreatSchools Rating

ALLDERDICE HIGH SCHOOL

  • Education Level: High
  • # of students: 1,352
  • # of teachers: 100
5
GreatSchools Rating
 

Financial Details

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Neighborhood

Point Breeze

  • 5,447

    POPULATION
  • 2,363

    HOUSEHOLDS
  • 88.8%

    WHITE COLLAR

Neighborhood : Point Breeze

HOUSEHOLDS
2,363
POPULATION

5,447

31.2%Renters
68.8%Home Owners
LABOR FORCE

 

88.8%White Collar
11.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 87% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,169 per month.

MY RENT : $2,169 MEDIAN RENT : $2,188

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.1%
$1,000-1,499 13.3%
>=$1,500 86.6%
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 $2,169 would therefore be considered affordable for annual household incomes greater than $86,760 (12 months x 3.333 x $2,169).

Rent % Affordability
Above $500 86.2%
Above $700 81.9%
Above $1,100 74.5%
Above $1,500 62.1%
Above $1,900 57.2%
HOUSEHOLD INCOME RANGE

Approximately 1,162 of households in this neighborhood have a total annual income of $86,760 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,169 per month.

MINIMUM INCOME RANGE : $86,760

Income % Distribution
<$20K 13.8%
$20K-$35K 7.4%
$35K-$60K 16.6%
$60K-$100K 14.9%
>=$100K 47.2%
COMMUTE TIME DISTRIBUTION

63% of the working population has a commute time of 15 to 44 minutes, 27% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.0%
5-9 mins 5.9%
10-14 mins 19.2%
15-19 mins 17.7%
20-29 mins 28.9%
30-44 mins 16.0%
45-59 mins 6.6%
>60 mins 3.6%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 87% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,169 per month.

MY RENT : $2,169 MEDIAN RENT : $2,188

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.1%
$1,000-1,499 13.3%
>=$1,500 86.6%
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 $2,169 would therefore be considered affordable for annual household incomes greater than $86,760 (12 months x 3.333 x $2,169).

Rent % Affordability
Above $500 86.2%
Above $700 81.9%
Above $1,100 74.5%
Above $1,500 62.1%
Above $1,900 57.2%
HOUSEHOLD INCOME RANGE

Approximately 1,162 of households in this neighborhood have a total annual income of $86,760 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,169 per month.

MINIMUM INCOME RANGE : $86,760

Income % Distribution
<$20K 13.8%
$20K-$35K 7.4%
$35K-$60K 16.6%
$60K-$100K 14.9%
>=$100K 47.2%
COMMUTE TIME DISTRIBUTION

63% of the working population has a commute time of 15 to 44 minutes, 27% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.0%
5-9 mins 5.9%
10-14 mins 19.2%
15-19 mins 17.7%
20-29 mins 28.9%
30-44 mins 16.0%
45-59 mins 6.6%
>60 mins 3.6%

Point Breeze Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 6.3%
Educational Services 27.5%
Financial Industries 5.0%
Health Care & Social Assistance 18.2%
Professional & Scientific Tech Services 12.5%
Retail & Wholesale Trader 8.1%
Other 22.4%
AGE DISTRIBUTION

60% of the population is between the ages of 25 and 64, 24% is 24 or younger and 16% is 65 or older.

Age % Distribution
<15 15.8%
15-19 5.2%
20-24 3.0%
25-44 31.5%
45-65 28.3%
66+ 16.2%
OCCUPATION

Occupation % Distribution
Computer Engineering 11.0%
Construction 19.5%
Healthcare 10.5%
Legal 4.3%
Management, Business, & Financial 26.8%
Sales & Office 14.7%
Other 13.3%
HIGHEST EDUCATION LEVEL

54% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Doctorate 13.8%
High School 8.4%
Masters Degree 24.6%
Professional 12.4%
Some College 8.0%
Other 32.9%

7040 Penn Ave Comps

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7040 Penn Ave, Pittsburgh, PA 15208 is a single family home of 3,209 sqft. HomeUnion INVESTimateĀ® for 7040 Penn Ave includes a Price Estimate of $194,797 and a Rent Estimate of $2,169. This single family home has 6 bedrooms,3 bathrooms, and was built in 1907. This property has an estimated 15 year annualized Yield of 13.36% and Total Return of 36.68%. The estimated 1 year forecast in home value for 7040 Penn Ave is 7.28%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in PA , ALLEGHENY County , or the 15208 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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