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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

22460 Petersburg Ave Eastpointe, MI 48021

0 Beds 2 Baths 1,641 sqft Built 1953
Last updated:  Jul 30, 2018

INVESTimate

$109,259

$104K - $114K

Price Est.

$1,031

956 - $1.1K

Rent Est.

$117,617  ( +7.65%)   1 YR EST. FORECAST
  
  
  

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22460 Petersburg Ave PROPERTY INFO

FACTS
  • Built In 1953
  • Price/Sqft : $66.58
CONSTRUCTION
  • Beds : 0
  • Floor Size : 1,641 sqft
  • Baths : 1 Full 1 Half

22460 Petersburg Ave SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
SOUTH LAKE HIGH SCHOOL High Regular 713 33 5

SOUTH LAKE HIGH SCHOOL

  • Education Level: High
  • # of students: 713
  • # of teachers: 33
5
GreatSchools Rating
 

Financial Details

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Neighborhood

Eastpointe

  • 32,373

    POPULATION
  • 12,207

    HOUSEHOLDS
  • 44.6%

    WHITE COLLAR

Neighborhood : Eastpointe

HOUSEHOLDS
12,207
POPULATION

32,373

32.2%Renters
67.8%Home Owners
LABOR FORCE

 

44.6%White Collar
55.4%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 19% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,149 per month.

MY RENT : $1,149 MEDIAN RENT : $914

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 44.7%
$900-999 27.6%
$1,000-1,499 27.7%
>=$1,500 0.0%
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 $1,149 would therefore be considered affordable for annual household incomes greater than $45,960 (12 months x 3.333 x $1,149).

Rent % Affordability
Above $500 75.6%
Above $700 67.2%
Above $1,100 47.9%
Above $1,500 32.4%
Above $1,900 21.1%
HOUSEHOLD INCOME RANGE

Approximately 4,657 of households in this neighborhood have a total annual income of $45,960 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,149 per month.

MINIMUM INCOME RANGE : $45,960

Income % Distribution
<$20K 24.4%
$20K-$35K 18.5%
$35K-$60K 24.7%
$60K-$100K 23.6%
>=$100K 8.8%
COMMUTE TIME DISTRIBUTION

68% of the working population has a commute time of 15 to 44 minutes, 20% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.4%
5-9 mins 5.8%
10-14 mins 13.1%
15-19 mins 15.0%
20-29 mins 26.5%
30-44 mins 26.5%
45-59 mins 7.8%
>60 mins 3.9%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 19% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,149 per month.

MY RENT : $1,149 MEDIAN RENT : $914

Rent % Distribution
$500-699 0.0%
$700-899 44.7%
$900-999 27.6%
$1,000-1,499 27.7%
>=$1,500 0.0%
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 $1,149 would therefore be considered affordable for annual household incomes greater than $45,960 (12 months x 3.333 x $1,149).

Rent % Affordability
Above $500 75.6%
Above $700 67.2%
Above $1,100 47.9%
Above $1,500 32.4%
Above $1,900 21.1%
HOUSEHOLD INCOME RANGE

Approximately 4,657 of households in this neighborhood have a total annual income of $45,960 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,149 per month.

MINIMUM INCOME RANGE : $45,960

Income % Distribution
<$20K 24.4%
$20K-$35K 18.5%
$35K-$60K 24.7%
$60K-$100K 23.6%
>=$100K 8.8%
COMMUTE TIME DISTRIBUTION

68% of the working population has a commute time of 15 to 44 minutes, 20% has a commute time of 14 minutes or less and 12% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.4%
5-9 mins 5.8%
10-14 mins 13.1%
15-19 mins 15.0%
20-29 mins 26.5%
30-44 mins 26.5%
45-59 mins 7.8%
>60 mins 3.9%

Eastpointe Demographics

INDUSTRY

Industry % Distribution
Administrative Support 5.7%
Arts & Entertainment 9.7%
Health Care & Social Assistance 17.5%
Manufacturing 18.5%
Retail & Wholesale Trader 14.8%
Transportation 6.0%
Other 27.9%
AGE DISTRIBUTION

53% of the population is between the ages of 25 and 64, 36% is 24 or younger and 11% is 65 or older.

Age % Distribution
<15 20.7%
15-19 8.2%
20-24 7.5%
25-44 26.4%
45-65 26.2%
66+ 11.0%
OCCUPATION

Occupation % Distribution
Clean 4.8%
Healthcare 8.1%
Management, Business, & Financial 9.1%
Natural Resources Maintenance 8.6%
Production & Transportation 24.2%
Sales & Office 25.6%
Other 19.6%
HIGHEST EDUCATION LEVEL

14% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 9.8%
High School 34.6%
Masters Degree 3.9%
Some College 28.4%
Some High School 13.1%
Other 10.2%

22460 Petersburg Ave Comps

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22460 Petersburg Ave, Eastpointe, MI 48021 is a single family home of 1,641 sqft. HomeUnion INVESTimateĀ® for 22460 Petersburg Ave includes a Price Estimate of $109,259 and a Rent Estimate of $1,031. This single family home has 0 bedrooms,2 bathrooms, and was built in 1953. This property has an estimated 15 year annualized Yield of 11.32% and Total Return of 20.26%. The estimated 1 year forecast in home value for 22460 Petersburg Ave is 7.65%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in MI , MACOMB County , or the 48021 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2