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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.

506 W Lewis Ave Phoenix, AZ 85003

0 Beds 0 Baths 1,328 sqft Built 1940
Last updated:  Jun 30, 2018

INVESTimate

$361,287

$339K - $384K

Price Est.

$1,540

$1.4K - $1.7K

Rent Est.

$382,531  ( +5.88%)   1 YR EST. FORECAST

506 W Lewis Ave PROPERTY INFO

FACTS
  • Built In 1940
  • Price/Sqft : $272.05
CONSTRUCTION
  • Beds : 0
  • Floor Size : 1,328 sqft
  • Baths : 0 Full
PROPERTY DESCRIPTION
506 W Lewis Ave, Phoenix, AZ 85003 is a single family home of 1,328 sqft. HomeUnion estimate for 506 W Lewis Ave includes a Price Estimate of $361,287 and a Rent Estimate of $1,540. This single family home has 0 bedrooms, 0 bathrooms, and was built in 1940. This property has an estimated 15 year annualized Yield of 5.12% and Total Return of 17.84%. The estimated 1 year forecast in home value for 506 W Lewis Ave is 5.88%.
  
  
  

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506 W Lewis Ave 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

Broadmoor Park

  • 77

    POPULATION
  • 37

    HOUSEHOLDS
  • 92.5%

    WHITE COLLAR

Neighborhood : Broadmoor Park

HOUSEHOLDS
37
POPULATION

77

32.4%Renters
67.6%Home Owners
LABOR FORCE

 

92.5%White Collar
7.5%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 71% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,596 per month.

MY RENT : $1,596 MEDIAN RENT : $1,578

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 28.9%
>=$1,500 71.1%
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 $1,596 would therefore be considered affordable for annual household incomes greater than $63,840 (12 months x 3.333 x $1,596).

Rent % Affordability
Above $500 100.0%
Above $700 97.0%
Above $1,100 87.9%
Above $1,500 81.8%
Above $1,900 75.0%
HOUSEHOLD INCOME RANGE

Approximately 22 of households in this neighborhood have a total annual income of $63,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,596 per month.

MINIMUM INCOME RANGE : $63,840

Income % Distribution
<$20K 0.0%
$20K-$35K 6.1%
$35K-$60K 12.1%
$60K-$100K 24.2%
>=$100K 57.6%
COMMUTE TIME DISTRIBUTION

65% of the working population has a commute time of 15 to 44 minutes, 31% has a commute time of 14 minutes or less and 4% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.2%
5-9 mins 16.7%
10-14 mins 10.4%
15-19 mins 12.5%
20-29 mins 29.2%
30-44 mins 22.9%
45-59 mins 0.0%
>60 mins 4.2%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 71% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,596 per month.

MY RENT : $1,596 MEDIAN RENT : $1,578

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 28.9%
>=$1,500 71.1%
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 $1,596 would therefore be considered affordable for annual household incomes greater than $63,840 (12 months x 3.333 x $1,596).

Rent % Affordability
Above $500 100.0%
Above $700 97.0%
Above $1,100 87.9%
Above $1,500 81.8%
Above $1,900 75.0%
HOUSEHOLD INCOME RANGE

Approximately 22 of households in this neighborhood have a total annual income of $63,840 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,596 per month.

MINIMUM INCOME RANGE : $63,840

Income % Distribution
<$20K 0.0%
$20K-$35K 6.1%
$35K-$60K 12.1%
$60K-$100K 24.2%
>=$100K 57.6%
COMMUTE TIME DISTRIBUTION

65% of the working population has a commute time of 15 to 44 minutes, 31% has a commute time of 14 minutes or less and 4% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 4.2%
5-9 mins 16.7%
10-14 mins 10.4%
15-19 mins 12.5%
20-29 mins 29.2%
30-44 mins 22.9%
45-59 mins 0.0%
>60 mins 4.2%

Broadmoor Park Demographics

INDUSTRY

Industry % Distribution
Educational Services 18.5%
Financial Industries 11.1%
Health Care & Social Assistance 7.4%
Professional & Scientific Tech Services 18.5%
Public Administration 7.4%
Retail & Wholesale Trader 11.1%
Other 25.9%
AGE DISTRIBUTION

79% of the population is between the ages of 25 and 64, 9% is 24 or younger and 12% is 65 or older.

Age % Distribution
<15 6.5%
15-19 0.0%
20-24 2.6%
25-44 33.8%
45-65 45.5%
66+ 11.7%
OCCUPATION

Occupation % Distribution
Computer Engineering 8.7%
Construction 17.4%
Legal 6.5%
Management, Business, & Financial 23.9%
Sales & Office 30.4%
Social 4.3%
Other 8.7%
HIGHEST EDUCATION LEVEL

31% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Doctorate 7.5%
High School 16.4%
Masters Degree 11.9%
Professional 7.5%
Some College 19.4%
Other 37.3%

506 W Lewis Ave Comps

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