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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

8 Back Searsport Rd Belfast, ME 04915

3 Beds 1 Baths 1,152 sqft Built 1994
Last updated:  Dec 26, 2019

INVESTimate

$116,949

$108K - $126K

Price Est.

$1,085

890 - $1.3K

Rent Est.

$122,036  ( +4.35%)   1 YR EST. FORECAST
  
  
  

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8 Back Searsport Rd PROPERTY INFO

FACTS
  • Built In 1994
  • Price/Sqft : $101.52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,152 sqft
  • Baths : 1 Full

8 Back Searsport Rd SCHOOLS

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Financial Details

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Neighborhood

BELFAST

  • 8,843

    POPULATION
  • 3,837

    HOUSEHOLDS
  • 68.8%

    WHITE COLLAR

Neighborhood : BELFAST

HOUSEHOLDS
3,837
POPULATION

8,843

32.9%Renters
67.1%Home Owners
LABOR FORCE

 

68.8%White Collar
31.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 62% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,085 per month.

MY RENT : $1,085 MEDIAN RENT : $1,124

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 1.0%
$900-999 29.3%
$1,000-1,499 45.0%
>=$1,500 24.7%
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 $1,085 would therefore be considered affordable for annual household incomes greater than $43,400 (12 months x 3.333 x $1,085).

Rent % Affordability
Above $500 77.7%
Above $700 71.6%
Above $1,100 57.2%
Above $1,500 46.5%
Above $1,900 33.7%
HOUSEHOLD INCOME RANGE

Approximately 1,972 of households in this neighborhood have a total annual income of $43,400 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,085 per month.

MINIMUM INCOME RANGE : $43,400

Income % Distribution
<$20K 22.3%
$20K-$35K 13.4%
$35K-$60K 17.9%
$60K-$100K 30.4%
>=$100K 16.0%
COMMUTE TIME DISTRIBUTION

43% of the working population has a commute time of 15 to 44 minutes, 44% 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 8.7%
5-9 mins 23.6%
10-14 mins 11.2%
15-19 mins 14.5%
20-29 mins 18.2%
30-44 mins 10.6%
45-59 mins 7.5%
>60 mins 5.7%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 62% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,085 per month.

MY RENT : $1,085 MEDIAN RENT : $1,124

Rent % Distribution
$500-699 0.0%
$700-899 1.0%
$900-999 29.3%
$1,000-1,499 45.0%
>=$1,500 24.7%
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 $1,085 would therefore be considered affordable for annual household incomes greater than $43,400 (12 months x 3.333 x $1,085).

Rent % Affordability
Above $500 77.7%
Above $700 71.6%
Above $1,100 57.2%
Above $1,500 46.5%
Above $1,900 33.7%
HOUSEHOLD INCOME RANGE

Approximately 1,972 of households in this neighborhood have a total annual income of $43,400 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,085 per month.

MINIMUM INCOME RANGE : $43,400

Income % Distribution
<$20K 22.3%
$20K-$35K 13.4%
$35K-$60K 17.9%
$60K-$100K 30.4%
>=$100K 16.0%
COMMUTE TIME DISTRIBUTION

43% of the working population has a commute time of 15 to 44 minutes, 44% 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 8.7%
5-9 mins 23.6%
10-14 mins 11.2%
15-19 mins 14.5%
20-29 mins 18.2%
30-44 mins 10.6%
45-59 mins 7.5%
>60 mins 5.7%

BELFAST Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 9.0%
Educational Services 7.8%
Health Care & Social Assistance 18.8%
Manufacturing 8.4%
Professional & Scientific Tech Services 7.9%
Retail & Wholesale Trader 12.7%
Other 35.4%
AGE DISTRIBUTION

51% of the population is between the ages of 25 and 64, 26% is 24 or younger and 23% is 65 or older.

Age % Distribution
<15 18.0%
15-19 3.3%
20-24 4.7%
25-44 22.1%
45-65 28.4%
66+ 23.4%
OCCUPATION

Occupation % Distribution
Construction 6.7%
Healthcare 5.3%
Management, Business, & Financial 18.8%
Natural Resources Maintenance 8.6%
Production & Transportation 10.4%
Sales & Office 29.9%
Other 20.3%
HIGHEST EDUCATION LEVEL

22% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 7.3%
High School 27.2%
Masters Degree 11.1%
Some College 23.0%
Some High School 5.6%
Other 25.9%

8 Back Searsport Rd Comps

Sorry, we do not have sufficient data available.

8 Back Searsport Rd, Belfast, ME 04915 is a single family home of 1,152 sqft. HomeUnion INVESTimate¬ģ for 8 Back Searsport Rd includes a Price Estimate of $116,949 and a Rent Estimate of $1,085. This single family home has 3 bedrooms,1 bathrooms, and was built in 1994. This property has an estimated 15 year annualized Yield of 11.13% and Total Return of 21.78%. The estimated 1 year forecast in home value for 8 Back Searsport Rd is 4.35%.

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