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17000 Wedge Pkwy #2423 Reno, NV 89511

2 Beds 2 Baths 1,348 sqft Built 2005

$360,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $267.06
  • 5 Days on Market
  • MLS # : 200017158
  • Updated Date : 12/25/2020 at 01:58
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,348 sqft
  • Baths : 2 full
Listing Agent

Re/max Premier Properties

Listing Agent's Description

Turn key 2 bed/2 bath condo in highly sought after Fallen Leaf. This condohas a gas fireplace, laundry room, loft for office/playroom/extra sleeping area. Fallen Leaf is close to Sierra Summit Mall, Theater, Restaurants, Mt Rose Ski Resort, Lake Tahoe and much more.

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
 

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

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,328
Property Tax -$11
Property Insurance -$56
HOA -$225
Property Management Fees -$119
CASH FLOW
$1

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

$1,740

PROJECTED RENT

0.48%

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$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 45% 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

5.67

YEARS SAVED

$27,104

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
  • $1,725

    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 #2423 Reno, NV 1
    • 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,348 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
Debra Engel
Re/max Premier Properties
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200017158
Last Updated: 12/25/2020
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