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11 Cormorant Ct Sparks, NV 89441

3 Beds 2 Baths 1,775 sqft Built 2001

$450,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $253.52
  • 6 Days on Market
  • MLS # : 200016348
  • Updated Date : 12/02/2020 at 00:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,775 sqft
  • Baths : 2 full
Listing Agent

Ferrari-lund R.e. Sparks

Listing Agent's Description

Coming Soon! Corner Lot with parking for multiple RV's and toys. Views of the Spanish Spring Valley and Mountains. Very desired Eagle Canyon neighborhood. Not ready for showings yet but check back for updated pictures coming soon.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Eagle Canyon - Pebble Creek

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $142k355k

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

Neighborhood: Eagle Canyon - Pebble Creek

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q210001100120013001400150016001700180019002000Rent in $9822093

* 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
Taylor Elementary School Primary Regular 614 30 8
Taylor Elementary School Middle Regular 614 30 8
Spanish Springs High School High Regular 2,315 95 6

Taylor Elementary School

  • Education Level: Primary
  • # of students: 614
  • # of teachers: 30
8
GreatSchools Rating

Taylor Elementary School

  • Education Level: Middle
  • # of students: 614
  • # of teachers: 30
8
GreatSchools Rating

Spanish Springs High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 95
6
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,660
Property Tax -$618
Property Insurance -$65
HOA -$39
Property Management Fees -$119
CASH FLOW
-$401

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.

$450,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,249

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
  • $2,266

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,8954$2,095
$2,095
RENT COMPS ANALYSIS
  • 11 Cormorant Ct Sparks, NV 1
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 20 Sheena Court Sparks, NV 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1993
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.20
    •  
  • 459 Beau Ct. Sparks, NV 3
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.22
    •  
  • 230 Date Palm Dr Sparks, NV 4
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 1991
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.41
    •  
PROPERTY LISTING DETAILS
Stacy Hussey
Ferrari-lund R.e. Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016348
Last Updated: 12/02/2020
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