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1376 Gordon #ave #Ave Reno, NV 89509

3 Beds 2 Baths 1,407 sqft Built 1962

$525,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $373.13
  • 4 Days on Market
  • MLS # : 210002433
  • Updated Date : 02/28/2021 at 05:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,407 sqft
  • Baths : 2 full
Listing Agent

Harcourts Nv1 Realty

Listing Agent's Description

Cute and cozy home 3 bed, 2 bath, 2 car garage with Hardwood floors, fireplace, backyard deck. Desirable Old South location walking distance to Downtown and Midtown. Your chance to get a rare gem in sought after neighborhood.

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PRICE & RENT TRENDS

Neighborhood: Idlewild Park

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Idlewild Park

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
Swope Middle School Middle Magnet 704 24 NA
Reno High School High Regular 1,668 71 10
Swope Middle School Middle Unknown NA

Swope Middle School

  • Education Level: Middle
  • # of students: 704
  • # of teachers: 24
NA
GreatSchools Rating

Reno High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 71
10
GreatSchools Rating

Swope Middle School

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

$472,500$577,500$525,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,824
Property Tax -$440
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$640

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.

$525,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

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-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$540

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
  • $1,780

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,200
$2,200
RENT COMPS ANALYSIS
  • 1376 Gordon #ave Reno, NV 1
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1690 Wilbur Place Reno, NV 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1955
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.26
    •  
  • 1905 California Ave. Reno, NV 3
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1967
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Shane Avansino
Harcourts Nv1 Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210002433
Last Updated: 02/28/2021
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