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1380 Zephyr Sparks, NV 89431

3 Beds 2 Baths 1,444 sqft Built 1959

$350,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $242.38
  • 7 Days on Market
  • MLS # : 210001518
  • Updated Date : 02/11/2021 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,444 sqft
  • Baths : 1 full , 1 half
Listing Agent

Real Estate In Nevada

Listing Agent's Description

Sparks Charmer~Nice turnkey home in convenient area of Sparks near parks, shopping and schools. This home has been nicely updated throughout with near new bathrooms and higher end finishes. The kitchen comes complete with refrigerator (no warranty, no value) and has a functional design with a recently updated large extra deep sink/faucet overlooking overlooking the very large and bright bonus room (approx 16' x 19') ample with windows! French style patio doors accessed from the

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Green Brae Terrace West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $92k344k

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

Neighborhood: Green Brae Terrace West

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2800900100011001200130014001500160017001800Rent in $7491873

* 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
Sparks Middle School Middle Regular 732 32 NA
Sparks High School High Regular 1,222 65 2
Sparks Middle School Middle Unknown NA

Sparks Middle School

  • Education Level: Middle
  • # of students: 732
  • # of teachers: 32
NA
GreatSchools Rating

Sparks High School

  • Education Level: High
  • # of students: 1,222
  • # of teachers: 65
2
GreatSchools Rating

Sparks Middle School

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

$315,000$385,000$350,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,216
Property Tax -$275
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$177

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.

$350,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 14.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,331

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
  • $1,653

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6954$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 1380 Zephyr Sparks, NV 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 296 E Quail Street Sparks, NV 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 3139 Saltern Way Sparks, NV 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1974
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.18
    •  
  • 3340 Wilma Drive Sparks, NV 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
  • 1533 H St. Sparks, NV 5
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1969
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.12
    •  
PROPERTY LISTING DETAILS
Kim Salavarrieta
Real Estate In Nevada
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001518
Last Updated: 02/11/2021
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