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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

9 Locust St Norwich, NY 13815

3 Beds 2 Baths 2,028 sqft Built 1890
Last updated:  Nov 28, 2019

INVESTimate

$115,457

$110K - $121K

Price Est.

$1,634

974 - $2.3K

Rent Est.

$114,233  ( -1.06%)   1 YR EST. FORECAST
  
  
  

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9 Locust St PROPERTY INFO

FACTS
  • Built In 1890
  • Price/Sqft : $56.93
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,028 sqft
  • Baths : 1 Full 1 Half

9 Locust St SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
PERRY BROWNE INTERMEDIATE SCHOOL Primary Regular 428 37 3
NORWICH MIDDLE SCHOOL Middle Regular 470 42 7
NORWICH HIGH SCHOOL High Regular 638 48 5

PERRY BROWNE INTERMEDIATE SCHOOL

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 37
3
GreatSchools Rating

NORWICH MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 42
7
GreatSchools Rating

NORWICH HIGH SCHOOL

  • Education Level: High
  • # of students: 638
  • # of teachers: 48
5
GreatSchools Rating
 

Financial Details

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Neighborhood

NORWICH

  • 13,552

    POPULATION
  • 5,533

    HOUSEHOLDS
  • 53.0%

    WHITE COLLAR

Neighborhood : NORWICH

HOUSEHOLDS
5,533
POPULATION

13,552

35.3%Renters
64.7%Home Owners
LABOR FORCE

 

53.0%White Collar
47.0%Blue Collar
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 $1,634 per month.

MY RENT : $1,634 MEDIAN RENT : $1,648

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.1%
$900-999 0.2%
$1,000-1,499 32.0%
>=$1,500 67.7%
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 $1,634 would therefore be considered affordable for annual household incomes greater than $65,360 (12 months x 3.333 x $1,634).

Rent % Affordability
Above $500 77.1%
Above $700 68.2%
Above $1,100 52.2%
Above $1,500 38.7%
Above $1,900 27.1%
HOUSEHOLD INCOME RANGE

Approximately 1,329 of households in this neighborhood have a total annual income of $65,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,634 per month.

MINIMUM INCOME RANGE : $65,360

Income % Distribution
<$20K 22.9%
$20K-$35K 16.6%
$35K-$60K 21.9%
$60K-$100K 22.4%
>=$100K 16.2%
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.

Time (mins) % Distribution
<5 mins 8.8%
5-9 mins 22.6%
10-14 mins 22.4%
15-19 mins 14.6%
20-29 mins 12.6%
30-44 mins 9.4%
45-59 mins 4.0%
>60 mins 5.6%
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 $1,634 per month.

MY RENT : $1,634 MEDIAN RENT : $1,648

Rent % Distribution
$500-699 0.0%
$700-899 0.1%
$900-999 0.2%
$1,000-1,499 32.0%
>=$1,500 67.7%
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 $1,634 would therefore be considered affordable for annual household incomes greater than $65,360 (12 months x 3.333 x $1,634).

Rent % Affordability
Above $500 77.1%
Above $700 68.2%
Above $1,100 52.2%
Above $1,500 38.7%
Above $1,900 27.1%
HOUSEHOLD INCOME RANGE

Approximately 1,329 of households in this neighborhood have a total annual income of $65,360 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,634 per month.

MINIMUM INCOME RANGE : $65,360

Income % Distribution
<$20K 22.9%
$20K-$35K 16.6%
$35K-$60K 21.9%
$60K-$100K 22.4%
>=$100K 16.2%
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.

Time (mins) % Distribution
<5 mins 8.8%
5-9 mins 22.6%
10-14 mins 22.4%
15-19 mins 14.6%
20-29 mins 12.6%
30-44 mins 9.4%
45-59 mins 4.0%
>60 mins 5.6%

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%

9 Locust St Comps

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9 Locust St, Norwich, NY 13815 is a single family home of 2,028 sqft. HomeUnion INVESTimateĀ® for 9 Locust St includes a Price Estimate of $115,457 and a Rent Estimate of $1,634. This single family home has 3 bedrooms,2 bathrooms, and was built in 1890. This property has an estimated 15 year annualized Yield of 16.98% and Total Return of 24.86%. The estimated 1 year forecast in home value for 9 Locust St 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

Nearest zipcodes within 2 miles

  1. 13830
  2. 13832
  3. 13411