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1550 Tanglewood Drive Sparks, NV 89431

4 Beds 2 Baths 1,488 sqft Built 1967

INVESTimate

$329,900

List Price

$1,590

$1,431 - $1,749

Rent Est.

$373,678  ( +13.27%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1967
  • Price/Sqft : $221.71
  • 5 Days on Market
  • MLS # : 200011638
  • Updated Date : 08/24/2020 at 01:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,488 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sparks

Listing Agent's Description

...and a white picket fence! Check out this charming single story home in Sparks! In the last 3 years the owners have installed central A/C, new double pane windows throughout, a new breaker panel, interior/exterior paint, and updated the fireplace along with the light fixtures and electrical outlets. There are 3 bedrooms, one of which has sliding barn doors, that was previously used as an office and 2 updated bathrooms.

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PRICE & RENT TRENDS

Neighborhood: Tanglewood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $92k344k

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

Neighborhood: Tanglewood Estates

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2800900100011001200130014001500160017001800Rent in $7561873

* 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
Greenbrae Elementary School Primary Regular 395 22 5
Greenbrae Elementary School Middle Regular 395 22 5
Sparks High School High Regular 1,222 65 2

Greenbrae Elementary School

  • Education Level: Primary
  • # of students: 395
  • # of teachers: 22
5
GreatSchools Rating

Greenbrae Elementary School

  • Education Level: Middle
  • # of students: 395
  • # of teachers: 22
5
GreatSchools Rating

Sparks High School

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

$296,910$362,890$329,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,217
Property Tax -$268
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$73

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.

$329,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 13.27%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$17,269

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
  • $1,693

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7004$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1550 Tanglewood Drive Sparks, 1
    • 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1967
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 296 E Quail Street Sparks, 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 1128 La Via Way Sparks, 3
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1973
    property image
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.20
    •  
  • 936 Glen Molly Sparks, 4
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1973
    property image
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
  • 3340 Wilma Drive Sparks, 5
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Staci Nauman
Keller Williams Realty Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011638
Last Updated: 08/24/2020
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