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17000 Wedge Pkwy #1011 Reno, NV 89511

2 Beds 2 Baths 1,317 sqft Built 2005

$370,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $280.94
  • 5 Days on Market
  • MLS # : 210000894
  • Updated Date : 01/24/2021 at 04:15
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,317 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Beautifully remodeled condo in the Fallen Leaf complex. Updated bathrooms, flooring, light fixtures, fireplace and more. Master bath is just one of the highlights of this property! Peak views of Mt Rose from both patios and many windows to allow lots of natural light. Newer washer and dryer stays and new water heater installed in September 2020. Concrete in the entrance way was treated and front screen door allows you to let the fresh air in while keeping any bugs out.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fallen Leaf at Galena

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $132k347k

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

Neighborhood: Fallen Leaf at Galena

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900Rent in $10881912

* 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
Lenz Elementary School Primary Regular 502 23 10
Lenz Elementary School Middle Regular 502 23 10
Galena High School High Regular 1,345 8

Lenz Elementary School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 23
10
GreatSchools Rating

Lenz Elementary School

  • Education Level: Middle
  • # of students: 502
  • # of teachers: 23
10
GreatSchools Rating

Galena High School

  • Education Level: High
  • # of students: 1,345
  • # of teachers:
8
GreatSchools Rating
 

$333,000$407,000$370,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$1,285
Property Tax -$11
Property Insurance -$55
HOA -$225
Property Management Fees -$119
CASH FLOW
-$26

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.

$370,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 12.5%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
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$1.6M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$20,620

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
  • $1,686

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,895
$1,895
RENT COMPS ANALYSIS
  • 17000 Wedge Pkwy #1011 Reno, NV 1
    • 2 beds 2 baths ∙ 1,317 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,317 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17000 Wedge Pkwy #2725 Reno, NV 2
    • 2 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.28
    •  
PROPERTY LISTING DETAILS
Katherine Chitko
Exp Realty, Llc
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000894
Last Updated: 01/24/2021
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