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1597 Ridgegate Reno, NV 89523

3 Beds 3 Baths 2,368 sqft Built 1984

$390,000

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $164.70
  • 3 Days on Market
  • MLS # : 200015499
  • Updated Date : 11/06/2020 at 21:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,368 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cal Neva Realty

Listing Agent's Description

INVESTOR ALERT! Come check out this 3 Bed/2.5 Bath home located in Northwest Reno! Though it may be rough around the edges, this house is ready for you to fix up, and turn it into your dream home! The oversized lot (just a bit over 1/3 acre)is adorned with tons of beautiful, mature trees. The inside has loads of space with over 2300 sf! All this, along with being located on a quiet little cul-de-sac, you couldn't ask for better! This crazy good opportunity won't last long, so schedule a showing today!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northgate

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Northgate

NeighborhoodNIR Market*CityMarket2015Year2009 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
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
 

$351,000$429,000$390,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,439
Property Tax -$622
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$17

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.

$390,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 9.7%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$23,916

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
  • $2,463

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0953$2,2004$2,600
$2,600
RENT COMPS ANALYSIS
  • 1597 Ridgegate Reno, NV 1
    • 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,368 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2260 Emerald View Court Reno, NV 2
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2002
    property image
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
  • 1545 Grandpoint Way Reno, NV 3
    • 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 1989
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 5230 Mountcrest Lane Reno, NV 4
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1988
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
PROPERTY LISTING DETAILS
Joshua Skroch
Cal Neva Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015499
Last Updated: 11/06/2020
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