Mount Royal Manor Offering Memorandum
Mount Royal Manor is a 114 unit apartment community located in the Chester Park neighborhood of Duluth, Minnesota. The seven-story building gives tenants picturesque and unparalleled views of the University, downtown Canal Park, and Lake Superior, creating a true North Shore experience for residents.
Mount Royal Manor is a 114 unit apartment community located in the Chester Park neighborhood of Duluth, Minnesota. The seven-story building gives tenants picturesque and unparalleled views of the University, downtown Canal Park, and Lake Superior, creating a true North Shore experience for residents.
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MARKET PROPERTY MOUNT OVERVIEW ROYAL NAME MANOR<br />
Demographic Summary<br />
Created on July 2017<br />
POPULATION 1 Miles 3 Miles 5 Miles<br />
• 2021 Projection<br />
Total Population 12,211 48,713 68,572<br />
• 2016 Estimate<br />
Total Population 12,277 48,746 68,341<br />
• 2010 Census<br />
Total Population 12,381 48,693 68,197<br />
• 2000 Census<br />
Total Population 12,439 48,554 67,823<br />
• Daytime Population<br />
2016 Estimate 19,381 68,302 98,528<br />
HOUSEHOLDS 1 Miles 3 Miles 5 Miles<br />
• 2021 Projection<br />
Total Households 3,648 19,397 28,050<br />
• 2016 Estimate<br />
Total Households 3,647 19,283 27,743<br />
Average (Mean) Household Size 2.50 2.24 2.24<br />
• 2010 Census<br />
Total Households 3,674 19,268 27,719<br />
• 2000 Census<br />
Total Households 3,730 19,379 27,452<br />
Growth 2015-2020 0.03% 0.59% 1.11%<br />
HOUSING UNITS 1 Miles 3 Miles 5 Miles<br />
• Occupied Units<br />
2021 Projection 3,648 19,397 28,050<br />
2016 Estimate 3,850 20,610 29,646<br />
Owner Occupied 2,255 10,230 15,763<br />
Renter Occupied 1,391 9,053 11,979<br />
Vacant 204 1,327 1,903<br />
• Persons In Units<br />
2016 Estimate Total Occupied Units 3,647 19,283 27,743<br />
1 Person Units 28.30% 35.74% 35.29%<br />
2 Person Units 32.82% 32.73% 33.62%<br />
3 Person Units 14.09% 13.48% 13.55%<br />
4 Person Units 14.81% 10.93% 10.72%<br />
5 Person Units 6.64% 4.86% 4.66%<br />
6+ Person Units 3.32% 2.26% 2.17%<br />
<strong>Mount</strong> <strong>Royal</strong> <strong>Manor</strong><br />
MARKETING DEMOGRAPHICS TEAM<br />
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles<br />
• 2016 Estimate<br />
$200,000 or More 7.07% 3.74% 3.24%<br />
$150,000 - $199,000 6.74% 3.15% 3.18%<br />
$100,000 - $149,000 14.72% 10.46% 10.05%<br />
$75,000 - $99,999 11.22% 9.94% 10.56%<br />
$50,000 - $74,999 17.50% 17.24% 18.60%<br />
$35,000 - $49,999 13.44% 13.97% 13.72%<br />
$25,000 - $34,999 8.51% 11.10% 10.67%<br />
$15,000 - $24,999 11.29% 13.16% 13.02%<br />
Under $15,000 9.50% 17.23% 16.96%<br />
Average Household Income $90,538 $66,142 $64,747<br />
Median Household Income $57,968 $43,278 $44,618<br />
Per Capita Income $30,286 $27,759 $27,619<br />
POPULATION PROFILE 1 Miles 3 Miles 5 Miles<br />
• Population By Age<br />
2016 Estimate Total Population 12,277 48,746 68,341<br />
Under 20 30.88% 23.81% 23.09%<br />
20 to 34 Years 33.76% 32.57% 29.76%<br />
35 to 39 Years 3.17% 4.60% 4.97%<br />
40 to 49 Years 7.39% 9.30% 9.94%<br />
50 to 64 Years 14.52% 17.04% 18.35%<br />
Age 65+ 10.25% 12.68% 13.91%<br />
Median Age 22.96 29.51 32.61<br />
• Population 25+ by Education Level<br />
2016 Estimate Population Age 25+ 5,411 27,723 41,583<br />
Elementary (0-8) 0.40% 1.20% 1.22%<br />
Some High School (9-11) 1.65% 4.20% 4.72%<br />
High School Graduate (12) 13.92% 21.22% 23.38%<br />
Some College (13-15) 18.12% 21.11% 22.49%<br />
Associate Degree Only 6.55% 9.17% 9.84%<br />
Bachelors Degree Only 35.30% 27.01% 24.58%<br />
Graduate Degree 23.63% 15.47% 13.10%<br />
• Population by Gender<br />
2016 Estimate Total Population 12,277 48,746 68,341<br />
Male Population 49.97% 49.47% 49.67%<br />
Female Population 50.03% 50.53% 50.33%<br />
Source: © 2016 Experian<br />
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are<br />
approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future<br />
performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2016 Marcus & Millichap ACT ID Y0510304
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