INVESTimate
$42,782
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8 Morse Ave PROPERTY INFO
FACTS
- Built In 1930
- Price/Sqft : $91.08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,296 sqft
- Baths : 1 Full 1 Half
8 Morse Ave SCHOOLS
Financial Details
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NORWICH
Neighborhood : NORWICH
DISTRIBUTION OF RENTS IN NEIGHBORHOOD
Approximately 68% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,559 per month.
MY RENT : $1,559 MEDIAN RENT : $1,648
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 $1,559 would therefore be considered affordable for annual household incomes greater than $62,360 (12 months x 3.333 x $1,559).
HOUSEHOLD INCOME RANGE
Approximately 1,366 of households in this neighborhood have a total annual income of $62,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,559 per month.
MINIMUM INCOME RANGE : $62,360
COMMUTE TIME DISTRIBUTION
37% of the working population has a commute time of 15 to 44 minutes, 54% has a commute time of 14 minutes or less and 10% has a commute time of 45 minutes or longer.
NORWICH Demographics
INDUSTRY
| Industry | % Distribution |
|---|---|
| Arts & Entertainment | 5.8% |
| Educational Services | 10.9% |
| Financial Industries | 8.6% |
| Health Care & Social Assistance | 17.1% |
| Manufacturing | 18.7% |
| Retail & Wholesale Trader | 10.7% |
| Other | 28.2% |
AGE DISTRIBUTION
51% of the population is between the ages of 25 and 64, 31% is 24 or younger and 18% is 65 or older.
| Age | % Distribution |
|---|---|
| <15 | 18.8% |
| 15-19 | 5.3% |
| 20-24 | 6.9% |
| 25-44 | 24.8% |
| 45-65 | 26.6% |
| 66+ | 17.6% |
OCCUPATION
| Occupation | % Distribution |
|---|---|
| Construction | 4.5% |
| Healthcare | 7.2% |
| Management, Business, & Financial | 17.8% |
| Natural Resources Maintenance | 10.7% |
| Production & Transportation | 18.0% |
| Sales & Office | 20.6% |
| Other | 21.3% |
HIGHEST EDUCATION LEVEL
21% of adults 25 and older have an education level of a bachelor's degree or higher.
| Education Level | % Distribution |
|---|---|
| Associates Degree | 11.7% |
| High School | 37.0% |
| Masters Degree | 7.6% |
| Some College | 18.5% |
| Some High School | 13.2% |
| Other | 12.0% |
8 Morse Ave Comps
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8 Morse Ave, Norwich, NY 13815 is a single family home of 1,296 sqft. HomeUnion INVESTimateĀ® for 8 Morse Ave includes a Price Estimate of $118,045 and a Rent Estimate of $1,559. This single family home has 3 bedrooms,2 bathrooms, and was built in 1930. This property has an estimated 15 year annualized Yield of 15.85% and Total Return of 25.52%. The estimated 1 year forecast in home value for 8 Morse Ave is -1.06%.
Looking for real estate investment properties in this area? You can browse additional properties and view investment data in NY , CHENANGO County , or the 13815 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2
