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1426 Selmi Reno, NV 89512

2 Beds 2 Baths 891 sqft Built 1986

INVESTimate

$170,000

List Price

$1,170

$1,053 - $1,287

Rent Est.

$191,488  ( +12.64%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1986
  • Price/Sqft : $190.80
  • 10 Days on Market
  • MLS # : 200011292
  • Updated Date : 08/20/2020 at 23:50
CONSTRUCTION
  • Beds : 2
  • Floor Size : 891 sqft
  • Baths : 2 full
Listing Agent

Atlas Red Realty

Listing Agent's Description

Immaculately kept large condo overlooking the beautiful courtyard. This one won't last! Call this agent now to get the inside scoop on more available condos. First come, first served. Call NOW!!!!

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PRICE & RENT TRENDS

Neighborhood: McCarran Knolls Condominiums

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $56k347k

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

Neighborhood: McCarran Knolls Condominiums

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q28009001000110012001300140015001600170018001900Rent in $7071912

* 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
Allen Elementary School Primary Regular 618 37 2
Allen Elementary School Middle Regular 618 37 2
Hug High School High Regular 1,395 69 2

Allen Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 37
2
GreatSchools Rating

Allen Elementary School

  • Education Level: Middle
  • # of students: 618
  • # of teachers: 37
2
GreatSchools Rating

Hug High School

  • Education Level: High
  • # of students: 1,395
  • # of teachers: 69
2
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$627
Property Tax -$79
Property Insurance -$46
HOA -$245
Property Management Fees -$119
CASH FLOW
$54

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.

$170,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 12.64%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$14,992

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
  • $1,136

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,2003$1,230
$1,230
RENT COMPS ANALYSIS
  • 1426 Selmi Reno, 1
    • 2 beds 2 baths ∙ 891 Sqft ∙ Built 1986 2 beds 2 baths ∙ 891 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1795 York Way Sparks, 2
    • 2 beds 1 baths ∙ 950 Sqft ∙ Built 1976 2 beds 1 baths ∙ 950 Sqft ∙ Built 1976
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.26
    •  
  • 1612 York Sparks, 3
    • 2 beds 1 baths ∙ 950 Sqft ∙ Built 1979 2 beds 1 baths ∙ 950 Sqft ∙ Built 1979
    LEASED 04/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.29
    •  
PROPERTY LISTING DETAILS
Allan Zane
Atlas Red Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011292
Last Updated: 08/20/2020
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