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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

717 Ocean Pkwy Berlin, MD 21811

0 Beds 2 Baths 1,396 sqft Built 1998
Last updated:  Jun 30, 2018

INVESTimate

$203,530

$195K - $212K

Price Est.

$1,421

$1.3K - $1.5K

Rent Est.

$209,636  ( +3%)   1 YR EST. FORECAST
  
  
  

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717 Ocean Pkwy PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $145.80
CONSTRUCTION
  • Beds : 0
  • Floor Size : 1,396 sqft
  • Baths : 2 Full

717 Ocean Pkwy SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
SHOWELL ELEMENTARY SCHOOL Primary Regular 543 40 10
STEPHEN DECATUR MIDDLE SCHOOL Middle Regular 638 49 9
STEPHEN DECATUR HIGH SCHOOL High Regular 1,399 88 7

SHOWELL ELEMENTARY SCHOOL

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 40
10
GreatSchools Rating

STEPHEN DECATUR MIDDLE SCHOOL

  • Education Level: Middle
  • # of students: 638
  • # of teachers: 49
9
GreatSchools Rating

STEPHEN DECATUR HIGH SCHOOL

  • Education Level: High
  • # of students: 1,399
  • # of teachers: 88
7
GreatSchools Rating
 

Financial Details

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Neighborhood

BERLIN

  • 26,449

    POPULATION
  • 11,197

    HOUSEHOLDS
  • 68.4%

    WHITE COLLAR

Neighborhood : BERLIN

HOUSEHOLDS
11,197
POPULATION

26,449

21.9%Renters
78.1%Home Owners
LABOR FORCE

 

68.4%White Collar
31.6%Blue Collar
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 55% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,432 per month.

MY RENT : $1,432 MEDIAN RENT : $1,491

Rent % Distribution LEVEL
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 51.5%
>=$1,500 48.4%
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 $1,432 would therefore be considered affordable for annual household incomes greater than $57,280 (12 months x 3.333 x $1,432).

Rent % Affordability
Above $500 87.3%
Above $700 80.5%
Above $1,100 66.7%
Above $1,500 54.8%
Above $1,900 41.3%
HOUSEHOLD INCOME RANGE

Approximately 6,229 of households in this neighborhood have a total annual income of $57,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,432 per month.

MINIMUM INCOME RANGE : $57,280

Income % Distribution
<$20K 12.7%
$20K-$35K 13.9%
$35K-$60K 18.6%
$60K-$100K 26.4%
>=$100K 28.4%
COMMUTE TIME DISTRIBUTION

54% of the working population has a commute time of 15 to 44 minutes, 34% 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 4.0%
5-9 mins 12.1%
10-14 mins 17.7%
15-19 mins 20.8%
20-29 mins 17.1%
30-44 mins 16.5%
45-59 mins 5.8%
>60 mins 6.0%
DISTRIBUTION OF RENTS IN NEIGHBORHOOD

Approximately 55% of rental properties in this neighborhood have a monthly rental rate greater than or equal to the target rent for this property of $1,432 per month.

MY RENT : $1,432 MEDIAN RENT : $1,491

Rent % Distribution
$500-699 0.0%
$700-899 0.0%
$900-999 0.0%
$1,000-1,499 51.5%
>=$1,500 48.4%
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 $1,432 would therefore be considered affordable for annual household incomes greater than $57,280 (12 months x 3.333 x $1,432).

Rent % Affordability
Above $500 87.3%
Above $700 80.5%
Above $1,100 66.7%
Above $1,500 54.8%
Above $1,900 41.3%
HOUSEHOLD INCOME RANGE

Approximately 6,229 of households in this neighborhood have a total annual income of $57,280 or more. This is the minimum amount of income necessary to comfortably afford the target rental rate for this property of $1,432 per month.

MINIMUM INCOME RANGE : $57,280

Income % Distribution
<$20K 12.7%
$20K-$35K 13.9%
$35K-$60K 18.6%
$60K-$100K 26.4%
>=$100K 28.4%
COMMUTE TIME DISTRIBUTION

54% of the working population has a commute time of 15 to 44 minutes, 34% 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 4.0%
5-9 mins 12.1%
10-14 mins 17.7%
15-19 mins 20.8%
20-29 mins 17.1%
30-44 mins 16.5%
45-59 mins 5.8%
>60 mins 6.0%

BERLIN Demographics

INDUSTRY

Industry % Distribution
Arts & Entertainment 20.3%
Construction 8.7%
Educational Services 8.6%
Health Care & Social Assistance 11.0%
Professional & Scientific Tech Services 5.4%
Retail & Wholesale Trader 14.8%
Other 31.2%
AGE DISTRIBUTION

48% of the population is between the ages of 25 and 64, 23% is 24 or younger and 29% is 65 or older.

Age % Distribution
<15 14.6%
15-19 4.7%
20-24 3.8%
25-44 18.2%
45-65 29.6%
66+ 29.2%
OCCUPATION

Occupation % Distribution
Construction 6.1%
Healthcare 9.6%
Management, Business, & Financial 22.4%
Natural Resources Maintenance 10.4%
Production & Transportation 5.6%
Sales & Office 23.5%
Other 22.3%
HIGHEST EDUCATION LEVEL

21% of adults 25 and older have an education level of a bachelor's degree or higher.

Education Level % Distribution
Associates Degree 7.9%
High School 28.2%
Masters Degree 10.1%
Some College 22.3%
Some High School 7.5%
Other 23.9%

717 Ocean Pkwy Comps

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717 Ocean Pkwy, Berlin, MD 21811 is a single family home of 1,396 sqft. HomeUnion INVESTimateĀ® for 717 Ocean Pkwy includes a Price Estimate of $203,530 and a Rent Estimate of $1,421. This single family home has 0 bedrooms,2 bathrooms, and was built in 1998. This property has an estimated 15 year annualized Yield of 8.38% and Total Return of 18.74%. The estimated 1 year forecast in home value for 717 Ocean Pkwy is 3%.

Looking for real estate investment properties in this area? You can browse additional properties and view investment data in MD , WORCESTER County , or the 21811 Zipcode. Nearby Zipcodes include Zipcode1 and Zipcode2