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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.

540 Old Ridge Rd Farmville, VA 23901

4 Beds 3 Baths 2,692 sqft Built 1985
Last updated:  Jun 30, 2018

INVESTimate

$209,427

$193K - $226K

Price Est.

$1,613

$1.4K - $1.8K

Rent Est.

$209,427  ( 0%)   1 YR EST. FORECAST

540 Old Ridge Rd PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $77.80
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,692 sqft
  • Baths : 3 Full
PROPERTY DESCRIPTION
540 Old Ridge Rd, Farmville, VA 23901 is a single family home of 2,692 sqft. HomeUnion estimate for 540 Old Ridge Rd includes a Price Estimate of $209,427 and a Rent Estimate of $1,613. This single family home has 4 bedrooms, 3 bathrooms, and was built in 1985. This property has an estimated 15 year annualized Yield of 9.24% and Total Return of 19.52%. The estimated 1 year forecast in home value for 540 Old Ridge Rd is 0%.
  
  
  

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540 Old Ridge Rd SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
PRINCE EDWARD ELEMENTARY SCHOOL Primary Regular 963 70 3
PRINCE EDWARD COUNTY HIGH SCHOOL High Regular 697 60 2

PRINCE EDWARD ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 963
  • # of teachers: 70
3
GreatSchools Rating

PRINCE EDWARD COUNTY HIGH SCHOOL

  • Education Level: High
  • # of students: 697
  • # of teachers: 60
2
GreatSchools Rating
 

Financial Details

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Neighborhood

FARMVILLE

  • 16,819

    POPULATION
  • 5,446

    HOUSEHOLDS
  • 61.3%

    WHITE COLLAR

Neighborhood : FARMVILLE

HOUSEHOLDS
5,446
POPULATION

16,819

38.1%Renters
61.9%Home Owners
LABOR FORCE

 

61.3%White Collar
38.7%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 14% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,651 per month.

MY RENT : $1,651 MEDIAN RENT : $1,154

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 4.9%
$900-999 21.6%
$1,000-1,499 59.0%
>=$1,500 14.5%
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 $1,651 would therefore be considered affordable for annual household incomes greater than $66,040 (12 months x 3.333 x $1,651).

Rent % Affordability
Above $500 78.9%
Above $700 69.5%
Above $1,100 50.6%
Above $1,500 37.7%
Above $1,900 29.1%
HOUSEHOLD INCOME RANGE

Approximately 1,296 of households in this neighborhood have a total annual income of $66,040 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,651 per month.

MINIMUM INCOME RANGE : $66,040

Income % Distribution
<$20K 21.1%
$20K-$35K 18.0%
$35K-$60K 23.2%
$60K-$100K 21.1%
>=$100K 16.6%
COMMUTE TIME DISTRIBUTION

37% of the working population has a commute time of 15 to 44 minutes, 46% has a commute time of 14 minutes or less and 17% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 7.2%
5-9 mins 21.1%
10-14 mins 17.3%
15-19 mins 15.6%
20-29 mins 13.0%
30-44 mins 8.9%
45-59 mins 4.5%
>60 mins 12.4%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 14% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,651 per month.

MY RENT : $1,651 MEDIAN RENT : $1,154

Rent % Distribution
$500-699 0.0%
$700-899 4.9%
$900-999 21.6%
$1,000-1,499 59.0%
>=$1,500 14.5%
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 $1,651 would therefore be considered affordable for annual household incomes greater than $66,040 (12 months x 3.333 x $1,651).

Rent % Affordability
Above $500 78.9%
Above $700 69.5%
Above $1,100 50.6%
Above $1,500 37.7%
Above $1,900 29.1%
HOUSEHOLD INCOME RANGE

Approximately 1,296 of households in this neighborhood have a total annual income of $66,040 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,651 per month.

MINIMUM INCOME RANGE : $66,040

Income % Distribution
<$20K 21.1%
$20K-$35K 18.0%
$35K-$60K 23.2%
$60K-$100K 21.1%
>=$100K 16.6%
COMMUTE TIME DISTRIBUTION

37% of the working population has a commute time of 15 to 44 minutes, 46% has a commute time of 14 minutes or less and 17% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 7.2%
5-9 mins 21.1%
10-14 mins 17.3%
15-19 mins 15.6%
20-29 mins 13.0%
30-44 mins 8.9%
45-59 mins 4.5%
>60 mins 12.4%

FARMVILLE Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 11.8%
Construction 9.4%
Educational Services 19.5%
Health Care & Social Assistance 14.0%
Public Administration 8.3%
Retail & Wholesale Trader 13.3%
Other 23.7%
AGE DISTRIBUTION

41% of the population is between the ages of 25 and 64, 43% is 24 or younger and 16% is 65 or older.

Age % Distribution
<15 12.6%
15-19 13.0%
20-24 17.8%
25-44 19.2%
45-65 21.9%
66+ 15.5%
OCCUPATION

Occupation % Distribution
Construction 11.5%
Healthcare 10.0%
Management, Business, & Financial 12.9%
Natural Resources Maintenance 13.6%
Production & Transportation 10.3%
Sales & Office 19.0%
Other 22.7%
HIGHEST EDUCATION LEVEL

19% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 4.9%
High School 31.2%
Masters Degree 9.1%
Some College 20.9%
Some High School 16.8%
Other 17.1%

540 Old Ridge Rd Comps

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