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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

88 Lower Rd East Canaan, CT 06024

3 Beds 2 Baths 2,212 sqft Built 1965
Last updated:  Nov 28, 2019

INVESTimate

$172,480

$155K - $190K

Price Est.

$1,722

$1.6K - $1.9K

Rent Est.

$170,169  ( -1.34%)   1 YR EST. FORECAST
  
  
  

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88 Lower Rd PROPERTY INFO

FACTS
  • Built In 1965
  • Price/Sqft : $77.97
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,212 sqft
  • Baths : 2 Full

88 Lower Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
NORTH CANAAN ELEMENTARY SCHOOL Primary Regular 308 33 6
NORTH CANAAN ELEMENTARY SCHOOL Middle Regular 308 33 6
HOUSATONIC VALLEY REGIONAL HIGH SCHOOL High Regular 463 49 7

NORTH CANAAN ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 308
  • # of teachers: 33
6
GreatSchools Rating

NORTH CANAAN ELEMENTARY SCHOOL

  • Education Level: Middle
  • # of students: 308
  • # of teachers: 33
6
GreatSchools Rating

HOUSATONIC VALLEY REGIONAL HIGH SCHOOL

  • Education Level: High
  • # of students: 463
  • # of teachers: 49
7
GreatSchools Rating
 

Financial Details

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Neighborhood

EAST CANAAN

  • 536

    POPULATION
  • 219

    HOUSEHOLDS
  • 60.0%

    WHITE COLLAR

Neighborhood : EAST CANAAN

HOUSEHOLDS
219
POPULATION

536

25.3%Renters
74.7%Home Owners
LABOR FORCE

 

60.0%White Collar
40.0%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 58% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,722 per month.

MY RENT : $1,722 MEDIAN RENT : $1,587

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.8%
$900-999 1.2%
$1,000-1,499 40.2%
>=$1,500 57.8%
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 $1,722 would therefore be considered affordable for annual household incomes greater than $68,880 (12 months x 3.333 x $1,722).

Rent % Affordability
Above $500 91.3%
Above $700 85.1%
Above $1,100 77.3%
Above $1,500 63.5%
Above $1,900 55.0%
HOUSEHOLD INCOME RANGE

Approximately 102 of households in this neighborhood have a total annual income of $68,880 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,722 per month.

MINIMUM INCOME RANGE : $68,880

Income % Distribution
<$20K 8.7%
$20K-$35K 11.9%
$35K-$60K 16.0%
$60K-$100K 24.7%
>=$100K 38.8%
COMMUTE TIME DISTRIBUTION

41% of the working population has a commute time of 15 to 44 minutes, 45% has a commute time of 14 minutes or less and 14% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.7%
5-9 mins 19.1%
10-14 mins 20.9%
15-19 mins 11.2%
20-29 mins 13.0%
30-44 mins 17.0%
45-59 mins 8.3%
>60 mins 5.8%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 58% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,722 per month.

MY RENT : $1,722 MEDIAN RENT : $1,587

Rent % Distribution
$500-699 0.0%
$700-899 0.8%
$900-999 1.2%
$1,000-1,499 40.2%
>=$1,500 57.8%
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 $1,722 would therefore be considered affordable for annual household incomes greater than $68,880 (12 months x 3.333 x $1,722).

Rent % Affordability
Above $500 91.3%
Above $700 85.1%
Above $1,100 77.3%
Above $1,500 63.5%
Above $1,900 55.0%
HOUSEHOLD INCOME RANGE

Approximately 102 of households in this neighborhood have a total annual income of $68,880 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,722 per month.

MINIMUM INCOME RANGE : $68,880

Income % Distribution
<$20K 8.7%
$20K-$35K 11.9%
$35K-$60K 16.0%
$60K-$100K 24.7%
>=$100K 38.8%
COMMUTE TIME DISTRIBUTION

41% of the working population has a commute time of 15 to 44 minutes, 45% has a commute time of 14 minutes or less and 14% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.7%
5-9 mins 19.1%
10-14 mins 20.9%
15-19 mins 11.2%
20-29 mins 13.0%
30-44 mins 17.0%
45-59 mins 8.3%
>60 mins 5.8%

EAST CANAAN Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 8.7%
Construction 9.1%
Educational Services 11.0%
Financial Industries 7.8%
Health Care & Social Assistance 17.8%
Manufacturing 10.7%
Other 35.0%
AGE DISTRIBUTION

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

Age % Distribution
<15 12.1%
15-19 4.1%
20-24 7.3%
25-44 18.5%
45-65 32.8%
66+ 25.2%
OCCUPATION

Occupation % Distribution
Clean 14.1%
Management, Business, & Financial 27.2%
Natural Resources Maintenance 11.7%
Production & Transportation 10.8%
Sales & Office 19.7%
Social 4.2%
Other 12.2%
HIGHEST EDUCATION LEVEL

13% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
High School 47.8%
Masters Degree 7.1%
Professional 3.3%
Some College 16.3%
Some High School 7.4%
Other 18.1%

88 Lower Rd Comps

Sorry, we do not have sufficient data available.

88 Lower Rd, East Canaan, CT 06024 is a single family home of 2,212 sqft. HomeUnion INVESTimateĀ® for 88 Lower Rd includes a Price Estimate of $172,480 and a Rent Estimate of $1,722. This single family home has 3 bedrooms,2 bathrooms, and was built in 1965. This property has an estimated 15 year annualized Yield of 11.98% and Total Return of 16.89%. The estimated 1 year forecast in home value for 88 Lower Rd is -1.34%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in CT , LITCHFIELD County , or the 06024 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2

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