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Sherman Heights80 Sherman Avenue, New Haven, CT 06511
$1,875,000 / 18 Units
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and
should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified
information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the
future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or
asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any
tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable;
however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters
and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of
the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name
is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or
commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
SHERMAN HEIGHTS
New Haven, CT
ACT ID Z0350095
2
TABLE OF CONTENTS
SECTION
FINANCIAL ANALYSIS 01Rent Roll Summary
Rent Roll Detail
Operating Statement
Pricing Detail
INVESTMENT OVERVIEW 02
Offering Summary
Local Map
Aerial Photo
Floor Plans
MARKET COMPARABLES 03
Sales Comparables
MARKET OVERVIEW 04
Market Analysis
Demographic Analysis
SHERMAN HEIGHTS
3
SHERMAN HEIGHTS
4
FINANCIAL
ANALYSIS
FINANCIAL ANALYSIS
SHERMAN HEIGHTS
RENT ROLL SUMMARY
5
FINANCIAL ANALYSIS
SHERMAN HEIGHTS
6
RENT ROLL DETAIL
FINANCIAL ANALYSIS
SHERMAN HEIGHTS
OPERATING STATEMENT
7
FINANCIAL ANALYSIS
SHERMAN HEIGHTS
PRICING DETAIL
8
SHERMAN HEIGHTS
9
INVESTMENT
OVERVIEW
SHERMAN HEIGHTS
#
EXECUTIVE SUMMARY
OFFERING SUMMARY
UNIT MIX
NUMBEROF UNITS
UNIT TYPEAPPROX.SQUARE FEET
9 One Bed / One Bath 459
9 Two Bed / One Bath 768
18 Total 11,040
VITAL DATA
Price $1,875,000 AUG '18 YTD END OF YEAR 1
Price/Unit $104,167 CAP Rate 6.01% 6.65%
Price/SF $142.51 GRM 8.51 7.78
Number of Units 18Net Operating Income
$112,753 $124,597
Rentable Square Feet 11,040
Number of Buildings One
Number of Stories Three
Year Built 1920
Lot Size 0.21 acre(s)
10
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES
Yale University 5,000 – 9,999+
Yale New Haven Health System 5,000 – 9,999+
Southern Connecticut State University 1,000 – 4,999
Temple Medical Center 1,000 – 4,999
Alexion Pharmaceuticals 1,000 – 4,999
Yale School of Med Psychiatry 500 - 999
American Medical Response 500 – 999
United Illuminating Co. 500 – 999
Knights of Columbus 500 – 999
US Post Office 500 – 999
Assa Abloy Americas 500 – 999
Sargent Manufacturing Co. 500 - 999
Pricewaterhouse Coopers 500 - 999
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles
2017 Estimate Pop 17,586 119,290 252,799
2010 Census Pop 17,537 118,466 250,841
2017 Estimate HH 6,184 45,507 97,748
2010 Census HH 6,217 45,407 97,547
SHERMAN HEIGHTS
OFFERING SUMMARY
Blocks From Yale New Haven Hospital Saint Raphael's Campus (511 beds): part of Yale New Haven Health
System - a 1541-bed hospital complex with almost 13,000 employees that is the largest hospital in the state
and the fifth largest in the country
Less than One Mile From Downtown New Haven CBD: featuring employment opportunities, shopping,
dining, and entertainment
Major Drivers of Residential Demand: In addition to Yale New Haven Hospital and Yale University, New
Haven is home to more than 3,200 businesses with 80,000+ employees; several of the top 100 companies
headquartered in Connecticut are located in New Haven
Biotech Capital of Connecticut: New Haven is ranked as the 13th best city for biotech venture funding in the
country with 39 of the state’s 52 biotech firms. Additionally, the $500 million, newly-built Yale New Haven
Smilow Cancer Center state-of-the-art facility specifically for patient and family-centered care is less than
one mile from 80 Sherman Avenue
Recent Capital Upgrades: property features a new roof, updated interior hallways, and vinyl windows
Convenient Access to Transportation: approximately one-and-one-half miles to New Haven
MetroNorth/Amtrak train station and a five minute drive from Interstate 95 and 91
INVESTMENT HIGHLIGHTS
INVESTMENT OVERVIEW
11
Sherman Heights, located at 80 Sherman Avenue, New Haven, is an 18-unit apartment building constructed in 1920. The property features nine, one-
bedroom / one-bath units and nine, two-bedroom / one-bath apartments. Units are heated by individual gas-fired, forced-air boilers. Tenants are responsible for their
own electricity as well. Apartments have hardwood floors in the living spaces and ceramic tile in the kitchens and bathrooms. The foundation is concrete and
masonry, and all windows are vinyl. Common laundry facilities serviced by Mac Gray are located in the basement.
Sherman Heights has undergone recent capital upgrades as a result of a fire in Unit #4. The property has received a brand new roof (flat rubber EPDM), and
hallways feature new carpet and ceiling tile.
The property is one block from Yale New Haven Hospital Saint Raphael’s Campus. It’s also less than a 15-minute walk from Yale New Haven Hospital.
Residents are only a seven minute drive from New Haven Union Train Station which provides direct access to Grand Central Terminal in approximately two hours.
Interstate 95 and Interstate 91 are one-and-one-half miles away.
SHERMAN HEIGHTS
PROPERTY SUMMARY
OFFERING SUMMARY
THE OFFERING
Property Sherman Heights
Price $1,875,000
Property Address 80 Sherman Ave, New Haven, CT
Assessors Parcel Number 341/ 1281/ 01600/ /
Zoning RM2 - Residential
SITE DESCRIPTION
Number of Units 18
Number of Buildings One
Number of Stories Three
Year Built/Renovated 1920
Rentable Square Feet 11,040
Lot Size 0.21 acre(s)
Type of Ownership Fee Simple
Density 85.7 Units Per Acre
Parking Street
Landscaping Minimal
Topography Flat
UTILITIES
Water South Central CT Regional Water Auth.
Electric United Illuminating
Gas Southern Connecticut Gas Company
CONSTRUCTION
Foundation Masonry
Framing Brick/Masonry
Exterior Brick
Roof Flat Rubber Membrane
MECHANICAL
HVAC Individual Gas-Fired Forced-air Heat
Fire Protection Alarmed
12
LOCAL MAP
SHERMAN HEIGHTS
13
AERIAL PHOTO
SHERMAN HEIGHTS
14
FLOOR PLANS
SHERMAN HEIGHTS
15
FLOOR PLANS
SHERMAN HEIGHTS
16
80 SHERMAN #12 BEDROOM: 770 SQ FT
SHERMAN HEIGHTS
17
MARKET
COMPARABLES
SHERMAN HEIGHTS
SALES COMPARABLES MAP
18
SHERMAN HEIGHTS
(SUBJECT)
Edgeway Apartments
1275 Quinnipiac & 530
Eastern
899 Boulevard
The Sherman Townhomes
579 Dixwell Av
215-217 Fairfield Street
1533 Chapel Street
325 Fountain St
Mayfair Apartments
SALES COMPARABLES
1
2
3
4
5
7
8
6
9
19
Avg. 5.97%
0.0
0.7
1.4
2.1
2.8
3.5
4.2
4.9
5.6
6.3
7.0
Sherman
Heights
The Sherman
Townhomes
579
Dixwell Av
325
Fountain St
Mayfair
Apartments
PROPERTY NAMESHERMAN HEIGHTS
SALES COMPARABLES
Average Cap Rate
SALES COMPARABLES SALES COMPS AVG
20
Avg. $107.37
$0.00
$20.00
$40.00
$60.00
$80.00
$100.00
$120.00
$140.00
$160.00
$180.00
$200.00
Sherman
Heights
Edgeway
Apartments
1275
Quinnipiac
& 530
Eastern
899
Boulevard
The Sherman
Townhomes
579
Dixwell Av
215-217
Fairfield
Street
1533 Chapel
Street
325
Fountain St
Mayfair
Apartments
PROPERTY NAMESHERMAN HEIGHTS
SALES COMPARABLES
Average Price Per Square Foot
SALES COMPARABLES SALES COMPS AVG
21
Avg. $91,633
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
$180,000
$200,000
Sherman
Heights
Edgeway
Apartments
1275
Quinnipiac
& 530
Eastern
899
Boulevard
The Sherman
Townhomes
579
Dixwell Av
215-217
Fairfield
Street
1533 Chapel
Street
325
Fountain St
Mayfair
Apartments
PROPERTY NAMESHERMAN HEIGHTS
SALES COMPARABLES
Average Price Per Unit
SALES COMPARABLES SALES COMPS AVG
PROPERTY NAME
MARKETING TEAM
SHERMAN HEIGHTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
22
SALES COMPARABLES
Units Unit Type
Offering Price: $1,875,000 9 1 Bdr / 1 Bath
Price/Unit: $104,167 9 2 Bdr / 1 Bath
Price/SF: $169.84
CAP Rate: 6.01%
GRM: 8.51
Total No. of Units: 18
Year Built: 1920
SHERMAN HEIGHTS80 Sherman Ave, New Haven, CT, 06511
1
Units Unit Type
Close Of Escrow: 12/2/2018 16 1 Bdr 1 Bath
Sales Price: $1,650,000 4 2 Bdr 1 Bath
Price/Unit: $82,500
Price/SF: $109.44
Total No. of Units: 20
Year Built: 1920
NOTES
Inferior location and condition relative to subject property. 208 Sherman
Avenue also included subsurface, deeded super's unit (twenty first unit)
that may was provided to building staff in lieu of salary.
EDGEWAY APARTMENTS202 Sherman Ave, New Haven, CT, 06511
Units Unit Type
Close Of Escrow: 7/31/2018 40 Apartments
Sales Price: $3,560,000
Price/Unit: $89,000
Price/SF: $110.24
Total No. of Units: 40
Year Built: 1959
2
NOTES
Sold as part of a portfolio with multifamily buildings in West Haven,
Connecticut.
1275 QUINNIPIAC & 530 EASTERN1275 Quinnipiac Ave, New Haven, CT, 06513
PROPERTY NAME
MARKETING TEAM
SHERMAN HEIGHTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
23
SALES COMPARABLES
Units Unit Type
Close Of Escrow: 6/25/2018 12 2 Bdr 1.5 Bath Twnhs
Sales Price: $1,700,000
Price/Unit: $141,667
Price/SF: $145.90
Total No. of Units: 12
Year Built: 1960
3
899 BOULEVARD899 Ella T Grasso Blvd, New Haven, CT, 06519
4
Units Unit Type
Close Of Escrow: 2/13/2018 8 2 Bdr 1.5 Bath Twnhs
Sales Price: $2,250,000 10 3 Bdr 1.5 Bath Twnhs
Price/Unit: $102,273 4 2 Bdr 1 Bath
Price/SF: $86.05
CAP Rate: 6.91%
Total No. of Units: 22
Year Built: 1972
NOTES
Sale consisted of three adjacent properties: 599 Sherman Parkway (18
townhouse Apartments), 567 Sherman Parkway (two-family), and 426
Dixwell Avenue, New Haven. Exclusively brokered by Marcus & Millichap.
THE SHERMAN TOWNHOMES599 Sherman Pkwy, New Haven, CT, 06511
Units Unit Type
Close Of Escrow: 3/31/2017 2 Studio 1 Bath
Sales Price: $1,550,000 5 1 Bdr 1 Bath
Price/Unit: $77,500 12 2 Bdr 1 Bath
Price/SF: $96.49 1 3 Bdr 1 Bath
CAP Rate: 6.22%
GRM: 7.42
Total No. of Units: 20
Year Built: 1920
5
NOTES
Slightly inferior location relative to subject property. CAP Rate based off
seller provided income/expenses plus broker underwriting approximately six
months prior to sale.
579 DIXWELL AV579 Dixwell Ave, New Haven, CT, 06511
PROPERTY NAME
MARKETING TEAM
SHERMAN HEIGHTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
24
SALES COMPARABLES
Units Unit Type
Close Of Escrow: 8/4/2017 16 2 Bdr 1 Bath Flat
Sales Price: $1,425,000
Price/Unit: $89,062
Price/SF: $124.97
Total No. of Units: 16
Year Built: 1962
6
215-217 FAIRFIELD STREET215-217 Fairfield Street, New Haven, CT, 06515
7
Units Unit Type
Close Of Escrow: 6/20/2017 2 Studio 1 Bath
Sales Price: $1,856,000 16 1 Bdr 1 Bath
Price/Unit: $80,696 5 2 Bdr
Price/SF: $108.46
Total No. of Units: 23
Year Built: 1900
1533 CHAPEL STREET1533 Chapel St, New Haven, CT, 06511
Units Unit Type
Close Of Escrow: 9/16/2016 20 2 Bdr 1 Bath
Sales Price: $1,800,000 5 1 Bdr 1 Bath
Price/Unit: $72,000
Price/SF: $94.54
CAP Rate: 6.56%
GRM: 6.35
Total No. of Units: 25
Year Built: 1963
8
NOTES
Property needed approximately $150,000 in Capital Expenditures upon
purchase. CAP Rate including Capital Expenditures was approximately
6.05%. Exclusively brokered by Marcus & Millichap.
325 FOUNTAIN ST325 Fountain St, New Haven, CT, 06515
PROPERTY NAME
MARKETING TEAM
SHERMAN HEIGHTS
SALES COMPARABLES
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
rentpropertyname1
rentpropertyaddress1
25
SALES COMPARABLES
Units Unit Type
Close Of Escrow: 6/15/2016 37 1 Bdr 1 Bath
Sales Price: $3,870,000 6 2 Bdr 1 Bath
Price/Unit: $90,000
Price/SF: $90.20
CAP Rate: 4.20%
Total No. of Units: 43
Year Built: 1920
9
NOTES
Slightly superior condition. CAP rate based on Seller's actual trailing 12-
month income and expenses. Average unit size is 830 square feet.
MAYFAIR APARTMENTS825 Elm St, New Haven, CT, 06511
SHERMAN HEIGHTS
26
MARKET
OVERVIEW
MARKET OVERVIEW
OVERVIEW
NEW HAVEN
Located adjacent to the northern shore of the Long Island Sound, the
New Haven metro encompasses all of New Haven County in central
Connecticut. The metro has a total population of approximately 865,000
residents. New Haven is the most populous city with 131,100 people,
followed by Waterbury with nearly 110,400. The area features some of
the wealthiest communities in the country, including the cities of Cheshire
and Woodbridge.
While the metro economy remains rooted in education and healthcare, the region has transformed into a
center for biotechnology.
Pharmaceutical companies Genaissance and Achillion top the list of successful firms founded in New Haven.
Yale University supports initiatives to drive biotechnology and research forward.
The university and the Yale-New Haven Health System are among the largest employers in the segment.
Both are behind the Smilow Cancer Hospital at Yale-New Haven.
Science Park in New Haven provides state-of-the-art manufacturing and laboratory facilities that attract biotech
firms to the county.
DEMOGRAPHICS
1
ECONOMY
METRO HIGHLIGHTS
* Forecast
Sources: Marcus & Millichap Research Services; BLS; Bureau of Economic Analysis; Experian; Fortune; Moody’s Analytics; U.S. Census Bureau
SHERMAN HEIGHTS
HIGH MEDIAN HOUSEHOLD INCOME
Median household income in the metro is much higher than the U.S. level.
WELL-EDUCATED AND SKILLED WORKFORCE
Approximately 33 percent of residents have a bachelor’s degree, much higher
than the national average. Major universities located here include Yale.
STARTUPS AND BUSINESS ATTRACTION
Startups are drawn to the area’s educated workforce and support of cutting-
edge research and entrepreneurship.
865K
2017POPULATION:
334K
2017HOUSEHOLDS:
40
2017MEDIAN AGE:
$62,200
2017 MEDIAN HOUSEHOLD INCOME:
U.S. Median:
37.8U.S. Median:
$56,3002.7%
Growth2017-2022*:
1.7%
Growth2017-2022*:
28
CONNECTICUT METROS
SHERMAN HEIGHTS
Properties performing well across state. Connecticut is experiencing a wave of new
rental demand that is fueling improvements in multifamily property performance across
New Haven, Hartford and Fairfield County. A surge in 2017 leasing activity precipitated
a drop in New Haven’s vacancy for 2018 to its lowest level in seven years, generating
region-leading rent growth. In Hartford, 2018 apartment absorptions will reach a near-
peak level, resulting in declining vacancy and climbing rent, especially in the northeast
and western suburbs. Demand is also on the upswing in Fairfield County as units in
Stamford/Norwalk are particularly sought after. Rent growth is largely confined to the
Bridgeport and Danbury areas where there is less supply-side pressure on operations.
New Haven and Hartford see more suburban development. Regional construction
activity achieves a three-year high, with much of the new development occurring
outside the core. No completions are anticipated in the city of New Haven for 2018 as
developers focus on the surrounding towns of Waterbury, Meriden and Hamden, while
over 700 arrivals are expected in West and Southeast Hartford. Several of these
projects have garden-style layouts with larger floor plans, a trend not seen in many
other markets. Only in Fairfield County is construction still predominantly downtown
centric, with several luxury developments in lease-up in downtown Stamford.
High Yields Amid Strong Performance Highlight Markets in Crowded East Coast
Region
* Cap rates are from Fairfield County and New Haven.
** Cap rate trailing 12-month average through 2Q; Treasury rate as of June 28.
Sources: CoStar Group, Inc.; Real Capital Analytics
Investment Trends
Fairfield County
• Yield arbitrage continues to draw investors from New York. First-year returns
typically fall into the mid-6 to mid-7 percent zone, well above the sub-5
percent average in New York City.
• Trading activity increased for the third consecutive year in downtown
Stamford, particularly in the Newfield/Westover/Turn of River neighborhood,
where cap rates range above 6 percent.
New Haven
• New interest led to an uptick in deals for Class B and C assets in Fair Haven
and Fair Haven Heights, residential areas on the Quinnipiac River. Initial
yields ranged above 8 percent at an average sale price below $100,000 per
unit.
• More properties were traded in West Haven over the past 12 months than in
the last couple of years with an average sale price of $62,000 per unit, one of
the lowest in the market.
Hartford
• A small number of older, Class C properties with more than 100 units trade
each year in Hartford as institutional-grade capital considers large-scale
assets with initial yields over 6 percent.
• The Bloomfield/Windsor area has reported consistent transactions of assets
priced above $20 million over the past three years, with initial returns near the
low-5 percent zone
Multifamily 2018 Outlook
VacancyY-O-Y
BasisPoint
Change
MetroEffective
Rent
Y-O-Y
Change
Fairfield County 5.5% 10 $2,275 2.8%
New Haven 4.4% -20 $1,460 4.1%
Hartford 4.1% -40 $1,305 3.1%
29
EMPLOYMENT CONSTRUCTION VACANCY RENT
S
CONNECTICUT METROS: NEW HAVEN
* Forecast
SHERMAN HEIGHTS
2Q18 – 12-Month Period
• Between June of 2017 and June
of 2018, recruiters filled 2,400
vacant positions, about 1,600 of
which were in the fields of
healthcare and educational
services.
• The unemployment rate fell to
4.8 percent, tying its lowest level
in more than 10 years. At 80
basis points above the national
figure, the labor market contains
more hiring potential than in
many other areas of the country.
• Developers delivered roughly 30
more units than last year as over
270 completions were made in
the suburban areas of
Waterbury, Meriden and
Hamden, while 190 units opened
within the city of New Haven.
• Canal Crossing on Lake Whitney
in Hamden constitutes this year’s
largest delivery at 393 units,
followed by the 75-rental
Meriden Common I, which opens
in late 2018.
• Fewer absorbed apartments
than last year led to a small
decline in the vacancy rate to 4.7
percent following a 160-basis-
point drop in the previous annual
period.
• Vacancy declined the most, by
90 basis points, among Class C
apartments in New Haven and
Class B properties in the
Waterbury/Meriden/Hamden
submarket, with rates of 2.9
percent and 4.6 percent,
respectively.
• After the 0.8 percent decline
posted last year, the average
effective rent rose to $1,427 per
month in June.
• Rent growth occurred
predominantly in the city of New
Haven, with the average
effective rent appreciating 5.4
percent to $1,572 per month.
Rate increases in Class A
buildings represented a large
portion of this improvement.
increase in effective
rents Y-O-Y4.2%basis point decrease
in vacancy Y-O-Y10units completed
Y-O-Y460increase in total
employment Y-O-Y0.7%
30
Investment Begins to Shift Outside of the City of New Haven
Outlook: A multitude of colleges across
the market create stable demand sources
outside of downtown, facilitating
continued investment in suburban assets.
Vacancy
Rate
Y-O-Y
BasisPoint
Change
SubmarketEffective
Rent
Y-O-Y%
Change
Northeast Hartford 1.8% -170 $1,309 1.9%
New Britain/Bristol 3.1% -50 $1,065 3.0%
Bridgeport/Danbury 4.4% -20 $1,699 4.6%
Stamford/Norwalk 4.4% -40 $2,541 0.8%
East
Hartford/Manchester4.4% -50 $1,224 -0.1%
New Haven 4.7% -10 $1,572 5.4%
Waterbury/Meriden/Ha
mden4.7% -20 $1,272 1.8%
Southeast
Hartford/Middlesex
County
4.8% 10 $1,306 5.4%
West
Hartford/Torrington5.6% -40 $1,560 6.2%
Northeast Hartford 1.8% -170 $1,309 1.9%
Submarket Trends
Lowest Vacancy Rates 2Q18
Sales Trends
CONNECTICUT METROS: NEW HAVEN
• About the same number of properties were traded in the New Haven submarket year
over year in June, with an average sale price of $140,000 per unit.
• Initial returns in the market can range from low-5 percent for new product in the core to
the mid-6 percent zone for early 20th-century suburban buildings. The latter product
type can offer an appealing location and foundation from which to make improvements.
* Trailing 12 months through 2Q 2018
Pricing trend sources: CoStar Group, Inc.; Real Capital Analytics
SHERMAN HEIGHTS
* 2017-2022 **2016
8
SHERMAN HEIGHTS
DEMOGRAPHICS
31
PROPERTY NAME
MARKETING TEAM
SHERMAN HEIGHTS
DEMOGRAPHICS
Source: © 2018 Experian
Created on January 2019
POPULATION 1 Miles 3 Miles 5 Miles
2022 Projection
Total Population 34,713 160,905 253,669
2017 Estimate
Total Population 34,893 160,586 252,363
2010 Census
Total Population 34,588 158,934 250,359
2000 Census
Total Population 34,705 150,391 236,791
Daytime Population
2017 Estimate 54,101 208,114 286,431
HOUSEHOLDS 1 Miles 3 Miles 5 Miles
2022 Projection
Total Households 11,796 59,551 97,626
2017 Estimate
Total Households 11,767 58,892 96,056
Average (Mean) Household Size 2.40 2.48 2.47
2010 Census
Total Households 11,733 58,550 95,804
2000 Census
Total Households 11,578 57,197 92,203
Growth 2015-2020 0.25% 1.12% 1.63%
HOUSING UNITS 1 Miles 3 Miles 5 Miles
Occupied Units
2022 Projection 11,796 59,551 97,626
2017 Estimate 13,540 65,813 105,357
Owner Occupied 1,934 18,802 42,157
Renter Occupied 9,833 40,090 53,899
Vacant 1,773 6,921 9,300
Persons In Units
2017 Estimate Total Occupied Units 11,767 58,892 96,056
1 Person Units 37.84% 33.15% 31.83%
2 Person Units 25.77% 28.24% 29.75%
3 Person Units 15.31% 16.20% 16.23%
4 Person Units 10.42% 11.58% 12.19%
5 Person Units 5.73% 5.94% 5.73%
6+ Person Units 4.94% 4.89% 4.26%
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles
2017 Estimate
$200,000 or More 1.92% 3.44% 4.36%
$150,000 - $199,000 2.78% 3.54% 4.66%
$100,000 - $149,000 6.05% 9.29% 12.11%
$75,000 - $99,999 6.01% 9.18% 10.75%
$50,000 - $74,999 14.12% 16.36% 16.71%
$35,000 - $49,999 13.99% 13.50% 12.86%
$25,000 - $34,999 12.11% 11.15% 9.98%
$15,000 - $24,999 14.75% 12.31% 11.13%
Under $15,000 28.26% 21.24% 17.45%
Average Household Income $47,607 $62,168 $71,815
Median Household Income $30,528 $40,487 $48,102
Per Capita Income $18,217 $23,925 $28,093
POPULATION PROFILE 1 Miles 3 Miles 5 Miles
Population By Age
2017 Estimate Total Population 34,893 160,586 252,363
Under 20 26.25% 26.56% 25.08%
20 to 34 Years 36.26% 30.49% 26.48%
35 to 39 Years 6.17% 6.76% 6.54%
40 to 49 Years 10.47% 11.42% 12.01%
50 to 64 Years 13.11% 14.88% 17.29%
Age 65+ 7.74% 9.89% 12.61%
Median Age 28.29 31.05 33.99
Population 25+ by Education Level
2017 Estimate Population Age 25+ 20,103 99,402 165,041
Elementary (0-8) 5.32% 4.98% 4.32%
Some High School (9-11) 12.85% 9.85% 8.43%
High School Graduate (12) 30.55% 30.31% 30.96%
Some College (13-15) 16.13% 16.46% 17.13%
Associate Degree Only 5.04% 5.47% 5.64%
Bachelors Degree Only 15.44% 15.18% 16.23%
Graduate Degree 13.24% 16.55% 16.07%
Population by Gender
2017 Estimate Total Population 34,893 160,586 252,363
Male Population 50.24% 48.42% 48.06%
Female Population 49.76% 51.58% 51.94%
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Income
In 2018, the median household income for your selected geography is
$30,528, compare this to the US average which is currently $56,286.
The median household income for your area has changed by 26.81%
since 2000. It is estimated that the median household income in your
area will be $33,719 five years from now, which represents a change
of 10.45% from the current year.
The current year per capita income in your area is $18,217, compare
this to the US average, which is $30,982. The current year average
household income in your area is $47,607, compare this to the US
average which is $81,217.
Population
In 2018, the population in your selected geography is 34,893. The
population has changed by 0.54% since 2000. It is estimated that the
population in your area will be 34,713.00 five years from now, which
represents a change of -0.52% from the current year. The current
population is 50.24% male and 49.76% female. The median age of the
population in your area is 28.29, compare this to the US average
which is 37.83. The population density in your area is 11,087.04
people per square mile.
Households
There are currently 11,767 households in your selected geography.
The number of households has changed by 1.63% since 2000. It is
estimated that the number of households in your area will be 11,796
five years from now, which represents a change of 0.25% from the
current year. The average household size in your area is 2.40
persons.
Employment
In 2018, there are 19,740 employees in your selected area, this is also
known as the daytime population. The 2000 Census revealed that
58.11% of employees are employed in white-collar occupations in this
geography, and 41.56% are employed in blue-collar occupations. In
2018, unemployment in this area is 12.18%. In 2000, the average time
traveled to work was 23.00 minutes.
Race and Ethnicity
The current year racial makeup of your selected area is as follows:
28.46% White, 45.05% Black, 0.05% Native American and 6.93%
Asian/Pacific Islander. Compare these to US averages which are:
70.42% White, 12.85% Black, 0.19% Native American and 5.53%
Asian/Pacific Islander. People of Hispanic origin are counted
independently of race.
People of Hispanic origin make up 27.15% of the current year
population in your selected area. Compare this to the US average of
17.88%.
PROPERTY NAME
MARKETING TEAM
SHERMAN HEIGHTS
Housing
The median housing value in your area was $192,100 in 2018,
compare this to the US average of $193,953. In 2000, there were
2,213 owner occupied housing units in your area and there were 9,365
renter occupied housing units in your area. The median rent at the
time was $572.
Source: © 2018 Experian
DEMOGRAPHICS
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34
ERIC PENTORE
First Vice President Investments
New Haven Office
Tel: (203) 672-3336
License: CT RES. 0787525
WES KLOCKNER
Senior Associate
New Haven Office
Tel: (203) 672-3326
Licenses: NY 10401263791, CT RES.0799478
E X C L U S I V E L Y L I S T E D B Y