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1490 Ione Pass Trail Reno, NV 89523

4 Beds 3 Baths 2,313 sqft Built 2017

INVESTimate

$530,000

List Price

$2,470

$2,223 - $2,717

Rent Est.

$599,377  ( +13.09%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $229.14
  • 9 Days on Market
  • MLS # : 200011314
  • Updated Date : 08/23/2020 at 06:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,313 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homegate Realty Of Reno

Listing Agent's Description

Beautiful home with a 3 Car Tandem Garage, 4 Bedroom, 2.5 Bath, located in a quiet Somersett neighborhood. This home boasts gorgeous tile floors throughout the downstairs, granite counters and upgraded cabinets with a large center island and an abundant sized pantry in the Kitchen. The open-concept layout throughout the main living area maximizes indoor space. Primary Bedroom highlights views of the golf course, walk-in closet, dual sinks and separate garden tub and shower.

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PRICE & RENT TRENDS

Neighborhood: Somersett Village

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Somersett Village

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2120013001400150016001700180019002000210022002300Rent in $11802358

* 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
Westergard Elementary School Primary Regular 638 31 7
Billinghurst Middle School Middle Regular 931 44 NA
Mcqueen High School High Regular 1,828 83 10

Westergard Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 31
7
GreatSchools Rating

Billinghurst Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 44
NA
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$477,000$583,000$530,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,955
Property Tax -$369
Property Insurance -$76
HOA -$248
Property Management Fees -$119
CASH FLOW
-$298

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.

$530,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 13.09%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$146,200

INVESTMENT

$146,200

Down Payment
$132,500
Rehab Estimate
$5,750
Closing Costs
$7,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,955

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $132,500
Loan Amount $397,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$13,499

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,470

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,475

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,275
1$2,2752$2,470
$2,470
RENT COMPS ANALYSIS
  • 1490 Ione Pass Trail Reno, 2
    • 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,313 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.07
    •  
  • 2121 Tara Ridge Trail Reno, 1
    • 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2018
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.07
    •  
PROPERTY LISTING DETAILS
Alan Hoffman
Homegate Realty Of Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011314
Last Updated: 08/23/2020
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