Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1621 Harold Reno, NV 89503

4 Beds 2 Baths 1,417 sqft Built 1950

INVESTimate

$369,900

List Price

$1,670

$1,503 - $1,837

Rent Est.

$417,950  ( +12.99%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1950
  • Price/Sqft : $261.04
  • 7 Days on Market
  • MLS # : 200011477
  • Updated Date : 08/24/2020 at 23:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,417 sqft
  • Baths : 2 full
Listing Agent

Harcourts Nv1 Realty

Listing Agent's Description

Take a look at this beautiful mid-century modern home in the highly sought after Old Northwest! Just steps to Lake Park and a short drive to UNR, this fully remodeled home has gorgeous features and endless charm! Enjoy the original hardwood floors that have been freshly refinished! Fall in love with the new kitchen and its shaker cabinetry, carrara countertops, and new stainless steel appliances! Benefit from the all new AC unit, furnace and duct work!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lake Park Heights

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $108k439k

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

Neighborhood: Lake Park Heights

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900200021002200Rent in $9892208

* 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
Peavine Elementary School Primary Regular 388 20 7
Peavine Elementary School Middle Regular 388 20 7
Reno High School High Regular 1,668 71 10

Peavine Elementary School

  • Education Level: Primary
  • # of students: 388
  • # of teachers: 20
7
GreatSchools Rating

Peavine Elementary School

  • Education Level: Middle
  • # of students: 388
  • # of teachers: 20
7
GreatSchools Rating

Reno High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 71
10
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,503$1,837$1,670

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,365
Property Tax -$96
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$39

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.

$369,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 12.99%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$35,772

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
  • $1,608

    COMP ESTIMATED VALUE
  • $1.44

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,7004$1,800
$1,800
RENT COMPS ANALYSIS
  • 1621 Harold Reno, 1
    • 4 beds 2 baths ∙ 1,117 Sqft ∙ Built 1950 4 beds 2 baths ∙ 1,117 Sqft ∙ Built 1950
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1442 Surf Way Reno, 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.36
    •  
  • 930 Melba Drive Reno, 3
    • 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.46
    •  
  • 1980 Simpson Ave Reno, 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.50
    •  
PROPERTY LISTING DETAILS
Jessica Hodges
Harcourts Nv1 Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011477
Last Updated: 08/24/2020
BESbswy