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1470 Riley Reno, NV 89502

3 Beds 1 Baths 1,000 sqft Built 1961

$300,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $300.00
  • 2 Days on Market
  • MLS # : 200016743
  • Updated Date : 12/13/2020 at 00:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,000 sqft
  • Baths : 1 full
Listing Agent

Realty Corner Inc.

Listing Agent's Description

Assessors roles show this as 2 bd 1 bath but there is another bedroom off the large laundry room. The living room is large and open. Newer vinyl windows are in this home.

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PRICE & RENT TRENDS

Neighborhood: Smithridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $72k347k

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

Neighborhood: Smithridge

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900Rent in $9911912

* 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
Corbett Elementary School Primary Regular 507 31 3
Corbett Elementary School Middle Regular 507 31 3
Damonte Ranch High School High Regular 1,617 70 8

Corbett Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 31
3
GreatSchools Rating

Corbett Elementary School

  • Education Level: Middle
  • # of students: 507
  • # of teachers: 31
3
GreatSchools Rating

Damonte Ranch High School

  • Education Level: High
  • # of students: 1,617
  • # of teachers: 70
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,107
Property Tax -$243
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$167

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.

$300,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 13.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,565

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
  • $1,435

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,750
$1,750
RENT COMPS ANALYSIS
  • 1470 Riley Reno, NV 1
    • 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,000 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 450 Claremont Reno, NV 2
    • 3 beds 1 baths ∙ 1,068 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,068 Sqft ∙ Built 1953
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.54
    •  
  • 865 Cordone Reno, NV 3
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1964
    property image
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.33
    •  
PROPERTY LISTING DETAILS
Lolis Vazquez
Realty Corner Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016743
Last Updated: 12/13/2020
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