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This page contains information about each property aggregated from public data sources, 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.

224 W Gibson Ln Phoenix, AZ 85003

0 Beds 0 Baths 672 sqft Built 1940
Last updated:  Jun 30, 2018

INVESTimate

$105,632

$99.0K - $112K

Price Est.

$868

801 - 935

Rent Est.

$123,188  ( +16.62%)   1 YR EST. FORECAST

224 W Gibson Ln PROPERTY INFO

FACTS
  • Built In 1940
  • Price/Sqft : $157.19
CONSTRUCTION
  • Beds : 0
  • Floor Size : 672 sqft
  • Baths : 0 Full
PROPERTY DESCRIPTION
224 W Gibson Ln, Phoenix, AZ 85003 is a single family home of 672 sqft. HomeUnion estimate for 224 W Gibson Ln includes a Price Estimate of $105,632 and a Rent Estimate of $868. This single family home has 0 bedrooms, 0 bathrooms, and was built in 1940. This property has an estimated 15 year annualized Yield of 9.86% and Total Return of 45.45%. The estimated 1 year forecast in home value for 224 W Gibson Ln is 16.62%.
  
  
  

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224 W Gibson Ln SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
CENTRAL HIGH SCHOOL High Regular 2,324 141 3

CENTRAL HIGH SCHOOL

  • Education Level: High
  • # of students: 2,324
  • # of teachers: 141
3
GreatSchools Rating
 

Financial Details

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Neighborhood

Central City

  • 54,170

    POPULATION
  • 17,702

    HOUSEHOLDS
  • 48.8%

    WHITE COLLAR

Neighborhood : Central City

HOUSEHOLDS
17,702
POPULATION

54,170

77.1%Renters
22.9%Home Owners
LABOR FORCE

 

48.8%White Collar
51.2%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 42% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,181 per month.

MY RENT : $1,181 MEDIAN RENT : $1,049

Rent % Distribution LEVEL
$500-699 1.3%
$700-899 12.8%
$900-999 21.1%
$1,000-1,499 62.6%
>=$1,500 2.3%
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 $1,181 would therefore be considered affordable for annual household incomes greater than $47,240 (12 months x 3.333 x $1,181).

Rent % Affordability
Above $500 53.8%
Above $700 40.7%
Above $1,100 24.7%
Above $1,500 16.2%
Above $1,900 10.9%
HOUSEHOLD INCOME RANGE

Approximately 3,503 of households in this neighborhood have a total annual income of $47,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,181 per month.

MINIMUM INCOME RANGE : $47,240

Income % Distribution
<$20K 46.2%
$20K-$35K 20.8%
$35K-$60K 16.7%
$60K-$100K 9.8%
>=$100K 6.4%
COMMUTE TIME DISTRIBUTION

60% of the working population has a commute time of 15 to 44 minutes, 29% has a commute time of 14 minutes or less and 11% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.4%
5-9 mins 9.9%
10-14 mins 16.8%
15-19 mins 18.7%
20-29 mins 19.7%
30-44 mins 21.9%
45-59 mins 4.0%
>60 mins 6.6%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 42% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,181 per month.

MY RENT : $1,181 MEDIAN RENT : $1,049

Rent % Distribution
$500-699 1.3%
$700-899 12.8%
$900-999 21.1%
$1,000-1,499 62.6%
>=$1,500 2.3%
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 $1,181 would therefore be considered affordable for annual household incomes greater than $47,240 (12 months x 3.333 x $1,181).

Rent % Affordability
Above $500 53.8%
Above $700 40.7%
Above $1,100 24.7%
Above $1,500 16.2%
Above $1,900 10.9%
HOUSEHOLD INCOME RANGE

Approximately 3,503 of households in this neighborhood have a total annual income of $47,240 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,181 per month.

MINIMUM INCOME RANGE : $47,240

Income % Distribution
<$20K 46.2%
$20K-$35K 20.8%
$35K-$60K 16.7%
$60K-$100K 9.8%
>=$100K 6.4%
COMMUTE TIME DISTRIBUTION

60% of the working population has a commute time of 15 to 44 minutes, 29% has a commute time of 14 minutes or less and 11% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 2.4%
5-9 mins 9.9%
10-14 mins 16.8%
15-19 mins 18.7%
20-29 mins 19.7%
30-44 mins 21.9%
45-59 mins 4.0%
>60 mins 6.6%

Central City Demographics

INDUSTRY

Industry % Distribution
Administrative Support 9.2%
Arts & Entertainment 15.4%
Construction 8.2%
Health Care & Social Assistance 11.1%
Manufacturing 7.3%
Retail & Wholesale Trader 10.8%
Other 38.1%
AGE DISTRIBUTION

50% of the population is between the ages of 25 and 64, 42% is 24 or younger and 8% is 65 or older.

Age % Distribution
<15 25.1%
15-19 7.6%
20-24 9.0%
25-44 30.3%
45-65 20.2%
66+ 7.8%
OCCUPATION

Occupation % Distribution
Clean 11.6%
Education 7.3%
Management, Business, & Financial 10.0%
Natural Resources Maintenance 11.1%
Production & Transportation 15.2%
Sales & Office 22.2%
Other 22.5%
HIGHEST EDUCATION LEVEL

9% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 4.2%
High School 24.9%
Masters Degree 3.1%
Some College 17.5%
Some High School 38.9%
Other 11.4%

224 W Gibson Ln Comps

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