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1621 Fargo Way Sparks, NV 89434

3 Beds 2 Baths 1,376 sqft Built 1984

$365,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $265.26
  • 6 Days on Market
  • MLS # : 210003341
  • Updated Date : 03/19/2021 at 21:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Better hurry on this one! Super clean home in East Sparks with brand new carpet and paint. Large kitchen has extra wall of custom cabinets for storage, handy island and room for in-kitchen dining. Gas fireplace w/ blower in the cozy living room. Four solar tube skylights enhance the natural light in this home. Along with central air conditioning there is also a whole house fan to keep you cool in the summer! Washer, dryer & kitchen refrigerator included in sale.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: O'Callaghan

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k344k

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

Neighborhood: O'Callaghan

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9121873

* 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
Dilworth Middle School Middle Regular 583 28 NA
Reed High School High Regular 1,992 65 6
Dilworth Middle School Middle Unknown NA

Dilworth Middle School

  • Education Level: Middle
  • # of students: 583
  • # of teachers: 28
NA
GreatSchools Rating

Reed High School

  • Education Level: High
  • # of students: 1,992
  • # of teachers: 65
6
GreatSchools Rating

Dilworth Middle School

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

$328,500$401,500$365,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,268
Property Tax -$415
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$289

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.

$365,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 12.0%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,562

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5753$1,850
$1,850
RENT COMPS ANALYSIS
  • 1621 Fargo Way Sparks, NV 1
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.14
    •  
  • 2613 Drexel Sparks, NV 2
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.14
    •  
  • 1938 Alpland Ct Sparks, NV 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
PROPERTY LISTING DETAILS
Trish Thiele
Berkshire Hathaway Homeservice
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210003341
Last Updated: 03/19/2021
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