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1115 Wyoming Reno, NV 89503

3 Beds 3 Baths 1,580 sqft Built 1983

$389,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $246.20
  • 9 Days on Market
  • MLS # : 200017195
  • Updated Date : 12/28/2020 at 01:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,580 sqft
  • Baths : 3 full
Listing Agent

Nevada Home Connections

Listing Agent's Description

Come check out the many upgrades that have been completed on this cute, cozy and convenient NW Reno home. Over the past ~2 years, all new windows, a new A/C unit, new KitchenAid range, microwave, and dishwasher, new gutters, and new solar PV panels plus a power wall have been installed. Carpeting has been replaced with weathered-wood-look laminate and wood on the stairs. The large corner lot features a shed and a chicken coop plus plenty of space for garden beds and outdoor living. Close to downtown and UNR

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northwest Villas

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $127k347k

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

Neighborhood: Northwest Villas

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900Rent in $11081912

* 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
Elmcrest Elementary School Primary Regular 357 23 4
Elmcrest Elementary School Middle Regular 357 23 4
Mcqueen High School High Regular 1,828 83 10

Elmcrest Elementary School

  • Education Level: Primary
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Elmcrest Elementary School

  • Education Level: Middle
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,435
Property Tax -$404
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$238

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.

$389,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 13.0%
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

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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,587

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
  • $1,774

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5953$1,8504$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 1115 Wyoming Reno, NV 1
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3949 Kings Row Reno, NV 2
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1984
    property image
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.08
    •  
  • 3675 Pomo Drive Reno, NV 3
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 4438 Highplains Reno, NV 4
    • 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1993
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.09
    •  
  • 2470 Keystone Ave Reno, NV 5
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1987
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
PROPERTY LISTING DETAILS
Linda Humphrey
Nevada Home Connections
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200017195
Last Updated: 12/28/2020
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