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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.

$125,000

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+9.2%)
1 YR. PROJ. APPRECIATION


Cap Rate	2.6%
Cash Flow	-$4,812
Value Increase	$41,792

10 YEAR

Cash On Cash	-5.4%
Total Return	11.8%

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.

Longspur Way

Spanish Springs, Nevada

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Street View

Neighborhood: Eagle Canyon - Pebble Creek

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

Neighborhood: Eagle Canyon - Pebble Creek

* 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

GreatSchools Rating

Taylor Elementary School

Education Level: Middle
# of students: 614
# of teachers: 30

GreatSchools Rating

Spanish Springs High School

Education Level: High
# of students: 2,315
# of teachers: 95

GreatSchools Rating

FINANCIALS

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$405,000$495,00000$450,000

PURCHASE PRICE

$1,890$2,31000$2,100

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

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

4.25%

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

1$02$1,7953$1,8954$2,095

$2,095

RENT COMPS ANALYSIS

1,775
PROPERTY SQFT
$1.28
AVG RENT PER SQFT
$2,266
ESTIMATED VALUE
$0
LIST RENT

11 Cormorant Ct Sparks, NV 5

3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2001
Price

Price Per SQFT

$450,000

$253.52
202 Oasis Dr. Sparks, NV 1

3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 1995
SOLD 06/30/20
Price

Price Per SQFT

$400,000

$206.19
650 Playa Place Sparks, NV 2

3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,940 Sqft ∙ Built 2019
SOLD 03/27/20
Price

Price Per SQFT

$407,400

$210.00
205 Bartmess Blvd. Sparks, NV 3

4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,050 Sqft ∙ Built 1999
SOLD 07/10/20
Price

Price Per SQFT

$428,000

$208.78
195 Bartmess Court Sparks, NV 4

4 beds 2 baths ∙ 1,989 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,989 Sqft ∙ Built 2001
SOLD 06/20/20
Price

Price Per SQFT

$430,000

$216.19

11 Cormorant Ct Sparks, NV 1

3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2001
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
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
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
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

11 Cormorant Ct Sparks, NV 89441

$450,000

$2,100

$125,000

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

PRICE & RENT TRENDS

SCHOOLS

Taylor Elementary School

Taylor Elementary School

Spanish Springs High School

FINANCIALS

$405,000$495,00000$450,000

$1,890$2,31000$2,100

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$450,000

$2,100

0.47%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,660

1.33

$3,249

$450,000

$253.52

$373,265

$210.29

COMPS RANGE

PRICE COMPS ANALYSIS

$0

$0

$2,266

$1.28

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS