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1735 Art Court Fernley, NV 89408

3 Beds 2 Baths 1,791 sqft Built 2003

INVESTimate

$309,500

List Price

$1,690

$1,521 - $1,859

Rent Est.

$353,975  ( +14.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $172.81
  • 6 Days on Market
  • MLS # : 200011565
  • Updated Date : 08/24/2020 at 00:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,791 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Select Fernley

Listing Agent's Description

Another lovely home in the Desert Lakes Golf Community! On a corner lot, in a cul de sac proudly sits this near 1800 square foot home! 3 Bedrooms, 2 baths and an over sized, 2 car garage, with a fully landscaped yard! The yard is nicely manicured and this .19 acre lot even has room for a garden! The open living area boasts vaulted ceilings, granite counter tops and luxury vinyl flooring in the kitchen, stainless steel kitchen appliances, washer and dryer stay!

SEE MORE

PRICE & RENT TRENDS

Zip Code: 89408

ZipNIR Market*CityMarket2010Year20022019100k120k140k160k180k200k220k240kPrice in $91k245k

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

Zip Code: 89408

No Data Available.

* 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
East Valley Elementary School Primary Regular 436 13 8
Fernley Intermediate School Middle Regular 535 10 NA
Fernley High School High Regular 951 21 6

East Valley Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 13
8
GreatSchools Rating

Fernley Intermediate School

  • Education Level: Middle
  • # of students: 535
  • # of teachers: 10
NA
GreatSchools Rating

Fernley High School

  • Education Level: High
  • # of students: 951
  • # of teachers: 21
6
GreatSchools Rating
 

$278,550$340,450$309,500

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,142
Property Tax -$249
Property Insurance -$64
HOA -$100
Property Management Fees -$119
CASH FLOW
$16

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$309,500

PROJECTED PRICE

$1,690

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 14.37%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,768

INVESTMENT

$87,768

Down Payment
$77,375
Rehab Estimate
$5,750
Closing Costs
$4,643

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,142

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,375
Loan Amount $232,125
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$18,050

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,690

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,690
$1,690
RENT COMPS ANALYSIS
  • 1735 Art Court Fernley, 2
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.94
    •  
  • 219 Mary Lou Lane Fernley, 1
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1996
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ellen Tudor
Coldwell Banker Select Fernley
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011565
Last Updated: 08/24/2020
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