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140 Comstock Drive Fernley, NV 89521

3 Beds 2 Baths 1,232 sqft Built 1978

$250,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $202.92
  • 2 Days on Market
  • MLS # : 210001449
  • Updated Date : 02/07/2021 at 01:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,232 sqft
  • Baths : 2 full
Listing Agent

Miner Realty Of Nevada Llc

Listing Agent's Description

Darling starter home ready for new buyers. This home has RV parking and a fenced front and back yard. The home features the great room concept but has an extra room off the kitchen that could be a family room, den, or even an extra bedroom.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 89521

ZipNIR Market*Market2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Zip Code: 89521

ZipNIR Market*Market2015Year2009 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
Fernley Elementary School Primary Regular 450 13 4
Silverland Middle School Middle Regular 561 13 NA
Fernley High School High Regular 951 21 6

Fernley Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 13
4
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$868
Property Tax -$205
Property Insurance -$53
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.

$250,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 10.5%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$34,861

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
  • $1,483

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,4954$1,525
$1,525
RENT COMPS ANALYSIS
  • 140 Comstock Drive Fernley, NV 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 105 Primrose Fernley, NV 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 1996
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.27
    •  
  • 373 Nader Fernley, NV 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1991
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.11
    •  
  • 515 Concord Cir Fernley, NV 4
    • 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,236 Sqft ∙ Built 1979
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.23
    •  
PROPERTY LISTING DETAILS
Jack Hartman
Miner Realty Of Nevada Llc
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001449
Last Updated: 02/07/2021
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