Stein Valuation, Inc.
Real Estate Appraisals & Consultation
Our appraisal experience spans the spectrum of property types and includes, apartment, office buildings, industrial buildings, R & D Buildings, mobile home parks, residential subdivisions, retail buildings and shopping centers, mixed portfolios, same-use portfolios, mixed use buildings, and a multitude of other property types. If you are a new visitor to our site, we invite you to explore these pages for more information on our services and the appraisal industry.
Following is a typical Appraisal Location description utilized by the Appraiser in analyzing the general area market trends.
South Gate Area Description
South Gate City had a total population of 96,418, according to the U.S. Census Bureau's results for the year 2000. Out of the total population, 33,827 were enrolled in schools.
Around 4.8% of the city's students were in nursery or preschool; 6.6% were in kindergarten; 47% were in elementary school, 24.3% were in high school and 17.3% were in college or universities. Census results also indicate that only 39.9% of the city's population aged 25 and above were high school graduates, and only 4.9% of the population had a bachelor's degree or higher.
South Gate City's labor force totaled 35,804, consisting of residents aged 16 years and above. Out of the total labor force, 32,200 were employed and 3,582 were unemployed.
Of the 32,200 employed workers in the city, 18,709 were males and 13,491 were females. Most of the males worked in the manufacturing industry while most of the females were in the educational, health, and social services industry. Median earnings for full-time, year-round male employees were $25,350, while median earnings for full-time, year-round female employees were $19,978 in year 1999.
About 85% of the employed populace were working for private companies; 10% worked for the government; and around 5% were self-employed. Around 10,660 workers had production, transportation, and material moving occupations; 8,925 had sales and office occupations; 4,831 had management, professional, and related occupations; 4,557 had service occupations; 3,081 had construction, extraction, and maintenance occupations; and only 143 had farming, fishing, and forestry occupations.
Census results also show that there were 23,165 households in the city. Only 0.6% of the total number of households had income of at least $200,000; 0.7% had income between $150,000 and $199,999; 4.1% had income between $100,000 and $149,999; 7.4% had income between $75,000 and $99,999; 19.4% had income between $50,000 and $74,999; 18.9% had income between $35,000 and $49,999; 16.5% had income between $25,000 and $34,999; 15.9% had income between $15,000 and $24,999; 7.3% had income between $10,000 and $14,999; and 9.3% had income of less than $10,000. For the year 1999, the median income of South Gate City households was $35,695 while mean earnings were $43,192.
Nearly 3,000 households had no available vehicles; around 7,900 had one vehicle; about 7,600 had two vehicles; and 4,713 households had three or more available vehicles for use.
There were 20,256 families in the city, according to census results for the year 2000. Most of the families had minimum earnings of $15,000 and maximum earnings at $74,999. The median family income was $35,789. The census results also indicate that 3,532 families, or 18,418 individuals, were below the poverty level in 1999, of which 3,174 had children below 18 years of age.
The city's housing units totaled 24,277, of which 50.8% were single-detached units; 13.4% were single-attached units; 1.1% were mobile homes; and the rest were multiple-housing units. Around 48.5% of the housing units were built during 1940 to 1959. Only 5% of the total housing units were built from 1980 to 1989; 1.6% were built from 1990 to 1994; 1.2% were built from 1995 to 1998; and only 0.5% were built from 1999 to March 2000.
There were 23,217 occupied housing units in the city and about 460 vacant housing units, based on year 2000 census results. About 250 of the vacant housing units were for sale and 210 were for rent.
Out of the 9,693 owner-occupied units, 8,055 had mortgage while 1,638 had no mortgage. Nearly 6,000 housing units had mortgage between $1,000 and $1,999. The median monthly owner cost was $1,317. Fifty-five percent of the owner-occupied units were valued at $150,000 to $199,999 while 30.9% were valued at $100,000 to $149,999. Only 0.1% of the units had value between $500,000 and $999,999. The median value of the owner-occupied units was $161,400.
Out of the 12,313 renter-occupied units, only 1.6% had gross rent of less than $200. Fifty-nine percent of the housing units had gross rent between $500 and $749. Only 0.5% had gross rent of at least $1,500. The median gross rent was $620.
The selling price for the vacant housing units was at least $100,000, but most were for sale with a $150,000-$174,999 price tag. None of the housing units were sold above $249,999. The median selling price was $158,000.
Rental for the vacant housing units was at least $300, but most were for rent at the $500-$599 range. None of the vacant housing units were for rent above $999. The median rental fee was $540, according to the year 2000 census.
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Additional statistical data for the area is presented below: Please note: differences between the above and below values are related to differing sources, though the ranges are considered to be quite reliable.