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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

4613 N Lake Rd West Farmington, OH 44491

3 Beds 2 Baths 1,404 sqft Built 2000
Last updated:  Jul 30, 2018

INVESTimate

$94,358

$85.5K - $103K

Price Est.

$897

839 - 955

Rent Est.

$96,717  ( +2.5%)   1 YR EST. FORECAST
  
  
  

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4613 N Lake Rd PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $67.21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 Full

4613 N Lake Rd SCHOOLS

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Financial Details

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Neighborhood

WEST FARMINGTON

  • 3,475

    POPULATION
  • 1,074

    HOUSEHOLDS
  • 36.2%

    WHITE COLLAR

Neighborhood : WEST FARMINGTON

HOUSEHOLDS
1,074
POPULATION

3,475

11.8%Renters
88.2%Home Owners
LABOR FORCE

 

36.2%White Collar
63.8%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 61% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $840 per month.

MY RENT : $840 MEDIAN RENT : $888

Rent % Distribution LEVEL
$500-699 10.4%
$700-899 41.3%
$900-999 13.0%
$1,000-1,499 29.7%
>=$1,500 5.6%
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 $840 would therefore be considered affordable for annual household incomes greater than $33,600 (12 months x 3.333 x $840).

Rent % Affordability
Above $500 92.1%
Above $700 85.4%
Above $1,100 66.6%
Above $1,500 47.8%
Above $1,900 30.1%
HOUSEHOLD INCOME RANGE

Approximately 2,047 of households in this neighborhood have a total annual income of $33,600 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $840 per month.

MINIMUM INCOME RANGE : $33,600

Income % Distribution
<$20K 7.9%
$20K-$35K 12.3%
$35K-$60K 32.1%
$60K-$100K 33.7%
>=$100K 14.0%
COMMUTE TIME DISTRIBUTION

59% of the working population has a commute time of 15 to 44 minutes, 16% has a commute time of 14 minutes or less and 25% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.7%
5-9 mins 5.2%
10-14 mins 9.4%
15-19 mins 16.5%
20-29 mins 22.9%
30-44 mins 19.6%
45-59 mins 11.3%
>60 mins 13.5%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 61% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $840 per month.

MY RENT : $840 MEDIAN RENT : $888

Rent % Distribution
$500-699 10.4%
$700-899 41.3%
$900-999 13.0%
$1,000-1,499 29.7%
>=$1,500 5.6%
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 $840 would therefore be considered affordable for annual household incomes greater than $33,600 (12 months x 3.333 x $840).

Rent % Affordability
Above $500 92.1%
Above $700 85.4%
Above $1,100 66.6%
Above $1,500 47.8%
Above $1,900 30.1%
HOUSEHOLD INCOME RANGE

Approximately 2,047 of households in this neighborhood have a total annual income of $33,600 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $840 per month.

MINIMUM INCOME RANGE : $33,600

Income % Distribution
<$20K 7.9%
$20K-$35K 12.3%
$35K-$60K 32.1%
$60K-$100K 33.7%
>=$100K 14.0%
COMMUTE TIME DISTRIBUTION

59% of the working population has a commute time of 15 to 44 minutes, 16% has a commute time of 14 minutes or less and 25% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 1.7%
5-9 mins 5.2%
10-14 mins 9.4%
15-19 mins 16.5%
20-29 mins 22.9%
30-44 mins 19.6%
45-59 mins 11.3%
>60 mins 13.5%

WEST FARMINGTON Demographics

INDUSTRY

Industry % Distribution
Agriculture, Fishing & Game 3.9%
Construction 19.6%
Educational Services 3.9%
Health Care & Social Assistance 8.0%
Manufacturing 26.8%
Retail & Wholesale Trader 13.1%
Other 24.8%
AGE DISTRIBUTION

44% of the population is between the ages of 25 and 64, 43% is 24 or younger and 13% is 65 or older.

Age % Distribution
<15 31.7%
15-19 6.8%
20-24 4.6%
25-44 23.0%
45-65 21.1%
66+ 12.7%
OCCUPATION

Occupation % Distribution
Clean 2.4%
Computer Engineering 2.3%
Management, Business, & Financial 11.8%
Natural Resources Maintenance 26.1%
Production & Transportation 32.8%
Sales & Office 19.0%
Other 5.5%
HIGHEST EDUCATION LEVEL

8% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 4.7%
High School 38.4%
Masters Degree 2.4%
Some College 14.0%
Some High School 31.6%
Other 8.8%

4613 N Lake Rd Comps

Sorry, we do not have sufficient data available.

4613 N Lake Rd, West Farmington, OH 44491 is a single family home of 1,404 sqft. HomeUnion INVESTimateĀ® for 4613 N Lake Rd includes a Price Estimate of $94,358 and a Rent Estimate of $897. This single family home has 3 bedrooms,2 bathrooms, and was built in 2000. This property has an estimated 15 year annualized Yield of 11.41% and Total Return of 20.51%. The estimated 1 year forecast in home value for 4613 N Lake Rd is 2.5%.

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