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1106 Prospect Ave. Sparks, NV 89431

3 Beds 1 Baths 1,092 sqft Built 1955

$317,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $290.29
  • 3 Days on Market
  • MLS # : 210000236
  • Updated Date : 01/09/2021 at 00:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,092 sqft
  • Baths : 1 full
Listing Agent

Realty One Group Eminence

Listing Agent's Description

Charming Probasco home, perfect for first time buyer or investor. Single level, 3 bedroom, 1 remodeled bath w/newer toilet & light fixtures, exterior paint & roof approx. 7 years new, newer wood laminate floors, remodeled open concept kitchen w/new breakfast bar counter, high wood beam ceilings, efficient pellet stove fireplace, chimney sweep recently cleaned, $7K in newer double pane vinyl windows throughout, great location near freeway, schools, parks & shops. Great buy!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Green Brae Terrace West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $92k344k

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

Neighborhood: Green Brae Terrace West

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2800900100011001200130014001500160017001800Rent in $7491873

* 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
Maxwell Elementary School Primary Regular 632 33 4
Maxwell Elementary School Middle Regular 632 33 4
Sparks High School High Regular 1,222 65 2

Maxwell Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 33
4
GreatSchools Rating

Maxwell Elementary School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 33
4
GreatSchools Rating

Sparks High School

  • Education Level: High
  • # of students: 1,222
  • # of teachers: 65
2
GreatSchools Rating
 

$285,300$348,700$317,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,101
Property Tax -$265
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$115

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.

$317,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 14.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,755

INVESTMENT

$89,755

Down Payment
$79,250
Rehab Estimate
$5,750
Closing Costs
$4,755

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,101

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,250
Loan Amount $237,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,219

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
  • COMP ESTIMATED VALUE
  • COMP AVG. RENT PER SQFT
Comps Range
$0
1$0
$0
RENT COMPS ANALYSIS
  • 1106 Prospect Ave. Sparks, NV
    • 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,092 Sqft ∙ Built 1955
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
PROPERTY LISTING DETAILS
Janice Leese
Realty One Group Eminence
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000236
Last Updated: 01/09/2021
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