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1264 Rainbow Fernley, NV 89408

3 Beds 2 Baths 1,835 sqft Built 2018

$365,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $198.91
  • 4 Days on Market
  • MLS # : 210001073
  • Updated Date : 01/28/2021 at 23:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,835 sqft
  • Baths : 2 full
Listing Agent

Ferrari-lund Real Estate Reno

Listing Agent's Description

Large, well-kept family home that is nearly new. This "Shasta" model in the highly desirable Silverland Estates shows like a dream. Three generous bedrooms, a formal living room, large family room, and even an extra room for a den or home office. The open-concept kitchen features dark cabinets, granite countertops, pantry, island with breakfast bar and plenty of storage space. Master bath has quartz counters, dual sinks, and garden tub, along with a glass enclosed shower.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 89408

ZipNIR Market*CityMarket2010Year20022019100k120k140k160k180k200k220k240kPrice in $91k245k

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

Zip Code: 89408

No Data Available.

* 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
East Valley Elementary School Primary Regular 436 13 8
Silverland Middle School Middle Regular 561 13 NA
Fernley High School High Regular 951 21 6

East Valley Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 13
8
GreatSchools Rating

Silverland Middle School

  • Education Level: Middle
  • # of students: 561
  • # of teachers: 13
NA
GreatSchools Rating

Fernley High School

  • Education Level: High
  • # of students: 951
  • # of teachers: 21
6
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,268
Property Tax -$332
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$196

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$33,847

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
  • $1,982

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4953$1,7504$1,845
$1,845
RENT COMPS ANALYSIS
  • 1264 Rainbow Fernley, NV 1
    • 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,835 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 943 Atrium Road Fernley, NV 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2000
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
  • 845 Jenny's Lane Fernley, NV 3
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 2000
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.12
    •  
  • 2216 Windrow Dr Fernley, NV 4
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2019
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.22
    •  
PROPERTY LISTING DETAILS
Regina Lockwood
Ferrari-lund Real Estate Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001073
Last Updated: 01/28/2021
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