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17000 Wedge Pkwy, Unit 2221 #2221 Reno, NV 89511

2 Beds 2 Baths 1,348 sqft Built 2005

$420,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $311.57
  • 3 Days on Market
  • MLS # : 210003179
  • Updated Date : 03/13/2021 at 14:56
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,348 sqft
  • Baths : 2 full
Listing Agent

Ll Realty Inc. - Fernley

Listing Agent's Description

Fallen Leaf Condo with Great location. Features 2 bedrooms with a loft, 2 baths, and 2 car garage with extra storage. Open floor plan with wonderful mountain views.

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
Pine Middle School Middle Magnet 1,022 43 NA
Galena High School High Regular 1,345 8
Herz Middle School Middle Unknown NA

Pine Middle School

  • Education Level: Middle
  • # of students: 1,022
  • # of teachers: 43
NA
GreatSchools Rating

Galena High School

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

Herz Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,459
Property Tax -$13
Property Insurance -$56
HOA -$225
Property Management Fees -$119
CASH FLOW
-$181

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.

$420,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.40%

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-$5.0k$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,512

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, Unit 2221 #2221 Reno, NV 1
    • 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,348 Sqft ∙ Built 2005
    property image
    • 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
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.28
    •  
PROPERTY LISTING DETAILS
Carrie Sieben
Ll Realty Inc. - Fernley
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210003179
Last Updated: 03/13/2021
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