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This page contains information about each property aggregated from public data sources, 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.

7044 Hewitt Ave Palermo, CA 95968

3 Beds 2 Baths 1,440 sqft Built 1977
Last updated:  Jan 23, 2020

INVESTimate

$120,764

$103K - $139K

Price Est.

$1,127

$1.1K - $1.2K

Rent Est.

$129,447  ( +7.19%)   1 YR EST. FORECAST

7044 Hewitt Ave PROPERTY INFO

FACTS
  • Built In 1977
  • Price/Sqft : $83.86
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 Full
PROPERTY DESCRIPTION
7044 Hewitt Ave, Palermo, CA 95968 is a single family home of 1,440 sqft. HomeUnion estimate for 7044 Hewitt Ave includes a Price Estimate of $120,764 and a Rent Estimate of $1,127. This single family home has 3 bedrooms, 2 bathrooms, and was built in 1977. This property has an estimated 15 year annualized Yield of 11.20% and Total Return of 30.84%. The estimated 1 year forecast in home value for 7044 Hewitt Ave is 7.19%.
  
  
  

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7044 Hewitt Ave SCHOOLS

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Financial Details

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Neighborhood

PALERMO

  • 1,284

    POPULATION
  • 450

    HOUSEHOLDS
  • 30.2%

    WHITE COLLAR

Neighborhood : PALERMO

HOUSEHOLDS
450
POPULATION

1,284

26.9%Renters
73.1%Home Owners
LABOR FORCE

 

30.2%White Collar
69.8%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 57% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,127 per month.

MY RENT : $1,127 MEDIAN RENT : $1,174

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 8.0%
$900-999 21.6%
$1,000-1,499 54.5%
>=$1,500 15.8%
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 $1,127 would therefore be considered affordable for annual household incomes greater than $45,080 (12 months x 3.333 x $1,127).

Rent % Affordability
Above $500 73.0%
Above $700 61.2%
Above $1,100 45.2%
Above $1,500 25.7%
Above $1,900 12.8%
HOUSEHOLD INCOME RANGE

Approximately 144 of households in this neighborhood have a total annual income of $45,080 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,127 per month.

MINIMUM INCOME RANGE : $45,080

Income % Distribution
<$20K 27.0%
$20K-$35K 21.0%
$35K-$60K 26.3%
$60K-$100K 21.2%
>=$100K 4.5%
COMMUTE TIME DISTRIBUTION

56% of the working population has a commute time of 15 to 44 minutes, 42% has a commute time of 14 minutes or less and 3% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.0%
5-9 mins 13.3%
10-14 mins 26.3%
15-19 mins 11.0%
20-29 mins 24.7%
30-44 mins 20.2%
45-59 mins 2.6%
>60 mins 0.0%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 57% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,127 per month.

MY RENT : $1,127 MEDIAN RENT : $1,174

Rent % Distribution
$500-699 0.0%
$700-899 8.0%
$900-999 21.6%
$1,000-1,499 54.5%
>=$1,500 15.8%
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 $1,127 would therefore be considered affordable for annual household incomes greater than $45,080 (12 months x 3.333 x $1,127).

Rent % Affordability
Above $500 73.0%
Above $700 61.2%
Above $1,100 45.2%
Above $1,500 25.7%
Above $1,900 12.8%
HOUSEHOLD INCOME RANGE

Approximately 144 of households in this neighborhood have a total annual income of $45,080 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,127 per month.

MINIMUM INCOME RANGE : $45,080

Income % Distribution
<$20K 27.0%
$20K-$35K 21.0%
$35K-$60K 26.3%
$60K-$100K 21.2%
>=$100K 4.5%
COMMUTE TIME DISTRIBUTION

56% of the working population has a commute time of 15 to 44 minutes, 42% has a commute time of 14 minutes or less and 3% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.0%
5-9 mins 13.3%
10-14 mins 26.3%
15-19 mins 11.0%
20-29 mins 24.7%
30-44 mins 20.2%
45-59 mins 2.6%
>60 mins 0.0%

PALERMO Demographics

INDUSTRY

Industry % Distribution
Administrative Support 7.7%
Agriculture, Fishing & Game 12.2%
Arts & Entertainment 7.0%
Health Care & Social Assistance 18.5%
Manufacturing 13.4%
Retail & Wholesale Trader 13.1%
Other 27.9%
AGE DISTRIBUTION

48% of the population is between the ages of 25 and 64, 33% is 24 or younger and 19% is 65 or older.

Age % Distribution
<15 18.8%
15-19 6.5%
20-24 7.9%
25-44 22.6%
45-65 25.1%
66+ 19.2%
OCCUPATION

Occupation % Distribution
Clean 21.8%
Construction 6.7%
Healthcare 13.5%
Natural Resources Maintenance 13.9%
Production & Transportation 21.0%
Sales & Office 17.5%
Other 5.6%
HIGHEST EDUCATION LEVEL

9% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 8.4%
High School 32.3%
Masters Degree 0.8%
Some College 28.1%
Some High School 28.8%
Other 1.5%

7044 Hewitt Ave Comps

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