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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

7123 Penn Ave Pittsburgh, PA 15208

5 Beds 3 Baths 3,140 sqft Built 1895
Last updated:  Oct 23, 2019

INVESTimate

$194,797

$181K - $208K

Price Est.

$2,695

$2.2K - $3.1K

Rent Est.

$209,991  ( +7.8%)   1 YR EST. FORECAST
  
  
  

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7123 Penn Ave PROPERTY INFO

FACTS
  • Built In 1895
  • Price/Sqft : $62.04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,140 sqft
  • Baths : 3 Full

7123 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 North

  • 1,731

    POPULATION
  • 995

    HOUSEHOLDS
  • 82.0%

    WHITE COLLAR

Neighborhood : Point Breeze North

HOUSEHOLDS
995
POPULATION

1,731

66.3%Renters
33.7%Home Owners
LABOR FORCE

 

82.0%White Collar
18.0%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 59% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,695 per month.

MY RENT : $2,695 MEDIAN RENT : $1,675

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.6%
$900-999 3.9%
$1,000-1,499 36.7%
>=$1,500 58.8%
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 $2,695 would therefore be considered affordable for annual household incomes greater than $107,800 (12 months x 3.333 x $2,695).

Rent % Affordability
Above $500 75.8%
Above $700 70.9%
Above $1,100 55.5%
Above $1,500 40.9%
Above $1,900 33.4%
HOUSEHOLD INCOME RANGE

Approximately 108 of households in this neighborhood have a total annual income of $107,800 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,695 per month.

MINIMUM INCOME RANGE : $107,800

Income % Distribution
<$20K 24.2%
$20K-$35K 12.0%
$35K-$60K 22.9%
$60K-$100K 21.8%
>=$100K 19.1%
COMMUTE TIME DISTRIBUTION

56% of the working population has a commute time of 15 to 44 minutes, 34% 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 5.0%
5-9 mins 14.2%
10-14 mins 15.0%
15-19 mins 14.0%
20-29 mins 25.9%
30-44 mins 15.7%
45-59 mins 7.2%
>60 mins 3.1%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 59% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $2,695 per month.

MY RENT : $2,695 MEDIAN RENT : $1,675

Rent % Distribution
$500-699 0.0%
$700-899 0.6%
$900-999 3.9%
$1,000-1,499 36.7%
>=$1,500 58.8%
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 $2,695 would therefore be considered affordable for annual household incomes greater than $107,800 (12 months x 3.333 x $2,695).

Rent % Affordability
Above $500 75.8%
Above $700 70.9%
Above $1,100 55.5%
Above $1,500 40.9%
Above $1,900 33.4%
HOUSEHOLD INCOME RANGE

Approximately 108 of households in this neighborhood have a total annual income of $107,800 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $2,695 per month.

MINIMUM INCOME RANGE : $107,800

Income % Distribution
<$20K 24.2%
$20K-$35K 12.0%
$35K-$60K 22.9%
$60K-$100K 21.8%
>=$100K 19.1%
COMMUTE TIME DISTRIBUTION

56% of the working population has a commute time of 15 to 44 minutes, 34% 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 5.0%
5-9 mins 14.2%
10-14 mins 15.0%
15-19 mins 14.0%
20-29 mins 25.9%
30-44 mins 15.7%
45-59 mins 7.2%
>60 mins 3.1%

Point Breeze North Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 8.6%
Educational Services 18.0%
Health Care & Social Assistance 26.9%
Professional & Scientific Tech Services 13.9%
Real Estate 4.9%
Retail & Wholesale Trader 8.1%
Other 19.5%
AGE DISTRIBUTION

71% of the population is between the ages of 25 and 64, 16% is 24 or younger and 12% is 65 or older.

Age % Distribution
<15 6.4%
15-19 3.8%
20-24 6.1%
25-44 41.8%
45-65 29.5%
66+ 12.5%
OCCUPATION

Occupation % Distribution
Computer Engineering 9.9%
Construction 8.5%
Healthcare 11.1%
Management, Business, & Financial 27.0%
Sales & Office 17.2%
Social 6.1%
Other 20.2%
HIGHEST EDUCATION LEVEL

45% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 14.0%
Doctorate 10.5%
High School 10.3%
Masters Degree 17.0%
Some College 10.4%
Other 37.7%

7123 Penn Ave Comps

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7123 Penn Ave, Pittsburgh, PA 15208 is a single family home of 3,140 sqft. HomeUnion INVESTimateĀ® for 7123 Penn Ave includes a Price Estimate of $194,797 and a Rent Estimate of $2,695. This single family home has 5 bedrooms,3 bathrooms, and was built in 1895. This property has an estimated 15 year annualized Yield of 16.60% and Total Return of 42.43%. The estimated 1 year forecast in home value for 7123 Penn Ave is 7.8%.

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