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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

627 W Michigan Ave Wellston, OH 45692

2 Beds 1 Baths 768 sqft Built 1950
Last updated:  Jun 30, 2018

INVESTimate

$55,583

$49.6K - $61.5K

Price Est.

$652

557 - 747

Rent Est.

$56,973  ( +2.5%)   1 YR EST. FORECAST

Browse real estate investments on Michigan W Ave

  1. 627 W Michigan Ave
  
  
  

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627 W Michigan Ave PROPERTY INFO

FACTS
  • Built In 1950
  • Price/Sqft : $72.37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 768 sqft
  • Baths : 1 Full

627 W Michigan Ave SCHOOLS

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Financial Details

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Neighborhood

WELLSTON

  • 8,847

    POPULATION
  • 3,435

    HOUSEHOLDS
  • 53.1%

    WHITE COLLAR

Neighborhood : WELLSTON

HOUSEHOLDS
3,435
POPULATION

8,847

29.3%Renters
70.7%Home Owners
LABOR FORCE

 

53.1%White Collar
46.9%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 67% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $652 per month.

MY RENT : $652 MEDIAN RENT : $728

Rent % Distribution LEVEL
$500-699 43.5%
$700-899 33.5%
$900-999 7.8%
$1,000-1,499 13.9%
>=$1,500 1.3%
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 $652 would therefore be considered affordable for annual household incomes greater than $26,080 (12 months x 3.333 x $652).

Rent % Affordability
Above $500 74.2%
Above $700 65.6%
Above $1,100 46.6%
Above $1,500 33.6%
Above $1,900 22.1%
HOUSEHOLD INCOME RANGE

Approximately 6,991 of households in this neighborhood have a total annual income of $26,080 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $652 per month.

MINIMUM INCOME RANGE : $26,080

Income % Distribution
<$20K 25.8%
$20K-$35K 15.7%
$35K-$60K 24.9%
$60K-$100K 21.5%
>=$100K 12.1%
COMMUTE TIME DISTRIBUTION

43% of the working population has a commute time of 15 to 44 minutes, 37% has a commute time of 14 minutes or less and 20% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 5.6%
5-9 mins 17.1%
10-14 mins 14.2%
15-19 mins 17.2%
20-29 mins 15.1%
30-44 mins 10.8%
45-59 mins 12.4%
>60 mins 7.6%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 67% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $652 per month.

MY RENT : $652 MEDIAN RENT : $728

Rent % Distribution
$500-699 43.5%
$700-899 33.5%
$900-999 7.8%
$1,000-1,499 13.9%
>=$1,500 1.3%
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 $652 would therefore be considered affordable for annual household incomes greater than $26,080 (12 months x 3.333 x $652).

Rent % Affordability
Above $500 74.2%
Above $700 65.6%
Above $1,100 46.6%
Above $1,500 33.6%
Above $1,900 22.1%
HOUSEHOLD INCOME RANGE

Approximately 6,991 of households in this neighborhood have a total annual income of $26,080 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $652 per month.

MINIMUM INCOME RANGE : $26,080

Income % Distribution
<$20K 25.8%
$20K-$35K 15.7%
$35K-$60K 24.9%
$60K-$100K 21.5%
>=$100K 12.1%
COMMUTE TIME DISTRIBUTION

43% of the working population has a commute time of 15 to 44 minutes, 37% has a commute time of 14 minutes or less and 20% has a commute time of 45 minutes or longer.

Time (mins) % Distribution
<5 mins 5.6%
5-9 mins 17.1%
10-14 mins 14.2%
15-19 mins 17.2%
20-29 mins 15.1%
30-44 mins 10.8%
45-59 mins 12.4%
>60 mins 7.6%

WELLSTON Demographics

INDUSTRY

Industry % Distribution
Construction 6.9%
Educational Services 9.0%
Financial Industries 5.2%
Health Care & Social Assistance 20.7%
Manufacturing 28.6%
Retail & Wholesale Trader 11.3%
Other 18.2%
AGE DISTRIBUTION

50% of the population is between the ages of 25 and 64, 33% is 24 or younger and 16% is 65 or older.

Age % Distribution
<15 22.3%
15-19 5.1%
20-24 6.0%
25-44 26.4%
45-65 23.7%
66+ 16.5%
OCCUPATION

Occupation % Distribution
Construction 5.5%
Healthcare 13.9%
Management, Business, & Financial 11.3%
Natural Resources Maintenance 11.1%
Production & Transportation 28.5%
Sales & Office 15.0%
Other 14.5%
HIGHEST EDUCATION LEVEL

13% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 8.7%
High School 40.1%
Masters Degree 4.4%
Some College 16.0%
Some High School 20.7%
Other 10.1%

627 W Michigan Ave Comps

Sorry, we do not have sufficient data available.

627 W Michigan Ave, Wellston, OH 45692 is a single family home of 768 sqft. HomeUnion INVESTimate® for 627 W Michigan Ave includes a Price Estimate of $55,583 and a Rent Estimate of $652. This single family home has 2 bedrooms,1 bathrooms, and was built in 1950. This property has an estimated 15 year annualized Yield of 14.08% and Total Return of 25.30%. The estimated 1 year forecast in home value for 627 W Michigan Ave is 2.5%.

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