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17000 Wedge Pkwy #2412 Reno, NV 89511

2 Beds 2 Baths 1,317 sqft Built 2005

$349,900

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $265.68
  • 7 Days on Market
  • MLS # : 200015094
  • Updated Date : 10/30/2020 at 22:28
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,317 sqft
  • Baths : 2 full
Listing Agent

Boles Realty

Listing Agent's Description

This beautifully maintained 2BR, 2Bath townhome has had only one owner, non-smoking and pet-free. High-quality plantation shutters throughout; newer security door lets in additional light. Small patio in front of home, and additional small, protected patio that opens off Master. Home is clean and ready to move in. Home is in desirable gated community of Fallen Leaf at Galena, less than 30 minutes to Tahoe, 15 minutes from Mt. Rose Ski Resort or downtown Reno; near Raley's and Summit Mall.

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,291
Property Tax -$11
Property Insurance -$55
HOA -$225
Property Management Fees -$119
CASH FLOW
$319

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.

$349,900

PROJECTED PRICE

$2,020

PROJECTED RENT

0.58%

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$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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

10.5

YEARS SAVED

$64,099

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 #2412 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
Ron Boles
Boles Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015094
Last Updated: 10/30/2020
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