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11340 Parma Court Reno, NV 89521

4 Beds 3 Baths 2,486 sqft Built 2007

INVESTimate

$530,000

List Price

$2,340

$2,106 - $2,574

Rent Est.

$589,784  ( +11.28%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $213.19
  • 8 Days on Market
  • MLS # : 200011457
  • Updated Date : 08/25/2020 at 17:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,486 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ferrari-lund Real Estate Reno

Listing Agent's Description

DAMONTE RANCH STUNNER! Pride of ownership shows throughout this upgraded 4bd 2.5bth 2486sf South Reno home. The kitchen has all stainless steel appliances, a large pantry, Corian countertops and a kitchen island with seating. There is a large and cozy family room/great room right off of the kitchen. You will also enjoy the spacious formal living room and formal dining room. There is a large upstairs loft and all 4 bedrooms are huge! There is fresh interior paint and newer wood floors.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Caramella Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420k440kPrice in $153k448k

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

Neighborhood: Caramella Ranch

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900200021002200Rent in $11802208

* 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
Brown Elementary School Primary Regular 886 43 8
Depoali Middle School Middle Unknown 1,135 53 NA
Damonte Ranch High School High Regular 1,617 70 8

Brown Elementary School

  • Education Level: Primary
  • # of students: 886
  • # of teachers: 43
8
GreatSchools Rating

Depoali Middle School

  • Education Level: Middle
  • # of students: 1,135
  • # of teachers: 53
NA
GreatSchools Rating

Damonte Ranch High School

  • Education Level: High
  • # of students: 1,617
  • # of teachers: 70
8
GreatSchools Rating
 

$477,000$583,000$530,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,955
Property Tax -$372
Property Insurance -$80
HOA -$100
Property Management Fees -$119
CASH FLOW
-$286

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$530,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 11.28%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$15,636

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
  • $2,523

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,4953$2,5004$2,5955$2,695
$2,695
RENT COMPS ANALYSIS
  • 11340 Parma Court Reno, 1
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 10845 Dancing Aspen Drive Reno, 2
    • 4 beds 2 baths ∙ 2,364 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,364 Sqft ∙ Built 2004
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.06
    •  
  • 11590 Rivolli Drive Reno, 3
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2013
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 365 Terracina Way Reno, 4
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2010
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.02
    •  
  • 2176 Gazala Lane Reno, 5
    • 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 2018
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.00
    •  
PROPERTY LISTING DETAILS
Brad Phillips
Ferrari-lund Real Estate Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011457
Last Updated: 08/25/2020
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