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17000 Wedge Pkwy #2225 Reno, NV 89511

2 Beds 2 Baths 1,477 sqft Built 2005

$360,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $243.74
  • 5 Days on Market
  • MLS # : 200016228
  • Updated Date : 11/26/2020 at 00:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,477 sqft
  • Baths : 2 full
Listing Agent

Re/max Gold

Listing Agent's Description

Super clean, turn key, two bedroom, two bath condo in Fallen Leaf with loft area. This condo has two patio areas, nice views, gas fireplace, upgraded counter tops and cabinets and attached two car garage. Fallen Leaf is close to the outdoor Sierra Summit Mall, shopping centers, Mount Rose Ski Area, and a quick drive to Tahoe. Don't miss you chance to own this move in ready home. Buyer to verify all information. Professional photos to be uploaded 12-2-2020. Owner is a licensed real estate person in NV.

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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
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,328
Property Tax -$11
Property Insurance -$59
HOA -$225
Property Management Fees -$119
CASH FLOW
$378

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.

$360,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.59%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$72,137

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
  • $1,891

    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 #2225 Reno, NV 1
    • 2 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,477 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
Moira Shea
Re/max Gold
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016228
Last Updated: 11/26/2020
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