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1095 Ricco Drive Sparks, NV 89434

4 Beds 3 Baths 2,815 sqft Built 1996

$485,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $172.29
  • 7 Days on Market
  • MLS # : 210000323
  • Updated Date : 01/13/2021 at 21:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,815 sqft
  • Baths : 3 full
Listing Agent

Ferrari-lund Real Estate Reno

Listing Agent's Description

Great Sparks home for you. Centrally located with easy freeway access, close to shopping and amenities. This large home has 4 bedrooms, 3 full baths, plus bonus room upstairs and a family room downstairs, is located on a corner lot with neighbors on just one side and no HOA! The large 3 car garage has plenty of cabinet storage. The conveniently arranged huge kitchen has ample cabinets and counter space, a kitchen nook, pantry cabinets, and an island. Please see extended remarks.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Pangi Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $142k409k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Pangi Ranch

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900Rent in $9821954

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Moss Elementary School Primary Regular 590 32 6
Moss Elementary School Middle Regular 590 32 6
Reed High School High Regular 1,992 65 6

Moss Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 32
6
GreatSchools Rating

Moss Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 32
6
GreatSchools Rating

Reed High School

  • Education Level: High
  • # of students: 1,992
  • # of teachers: 65
6
GreatSchools Rating
 

$436,500$533,500$485,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,685
Property Tax -$845
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
-$165

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$485,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 8.2%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,685

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,662

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,862

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2753$2,8004$3,250
$3,250
RENT COMPS ANALYSIS
  • 1095 Ricco Drive Sparks, NV 1
    • 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3007 Brachetto Loop Sparks, NV 2
    • 3 beds 3 baths ∙ 2,616 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,616 Sqft ∙ Built 2016
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.87
    •  
  • 2441 Strozzi Court Sparks, NV 3
    • 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 2015
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.01
    •  
  • 2152 Wabash Sparks, NV 4
    • 5 beds 3 baths ∙ 2,771 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,771 Sqft ∙ Built 1988
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.17
    •  
PROPERTY LISTING DETAILS
Carolyn Hill
Ferrari-lund Real Estate Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000323
Last Updated: 01/13/2021
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