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1200 Cliff Park Way Reno, NV 89523

2 Beds 2 Baths 1,644 sqft Built 2006

INVESTimate

$450,000

List Price

$2,040

$1,836 - $2,244

Rent Est.

$487,980  ( +8.44%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $273.72
  • 9 Days on Market
  • MLS # : 200011352
  • Updated Date : 08/24/2020 at 22:32
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,644 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

This lovely 2 bedroom + study, 2 bath home is located on a corner lot in Del Webb at Sierra Canyon with an oversized 2 car garage. Upgrades include a freshly painted interior and a new furnace February 2020. The open floor plan is perfect for entertaining with the warmth of the fireplace and large breakfast bar. In the kitchen, enjoy guests while preparing a meal with the double oven. Take in the views from the front gated courtyard. Relax and enjoy the summertime shade and views on the covered back patio.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Canyon at Somersett Village

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Sierra Canyon at Somersett Village

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
Westergard Elementary School Primary Regular 638 31 7
Billinghurst Middle School Middle Regular 931 44 NA
Mcqueen High School High Regular 1,828 83 10

Westergard Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 31
7
GreatSchools Rating

Billinghurst Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 44
NA
GreatSchools Rating

Mcqueen High School

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

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

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,660
Property Tax -$284
Property Insurance -$62
HOA -$110
Property Management Fees -$119
CASH FLOW
-$195

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.

$450,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 8.44%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

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 50% 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

3.58

YEARS SAVED

$16,866

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
  • $2,104

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,200
$2,200
RENT COMPS ANALYSIS
  • 1200 Cliff Park Way Reno, 1
    • 2 beds 2 baths ∙ 1,644 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,644 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1320 Wakefield Trail Reno, 2
    • 2 beds 2 baths ∙ 1,636 Sqft ∙ Built 2015 2 beds 2 baths ∙ 1,636 Sqft ∙ Built 2015
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.22
    •  
  • 1180 Cliff Park Way #reno Nv 89523 Reno, 3
    • 2 beds 2 baths ∙ 1,644 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,644 Sqft ∙ Built 2006
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.34
    •  
PROPERTY LISTING DETAILS
Annette Junell
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011352
Last Updated: 08/24/2020
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