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17531 Desert Lake Dr. Reno, NV 89508

3 Beds 3 Baths 1,624 sqft Built 2004

$329,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $202.59
  • 4 Days on Market
  • MLS # : 210002266
  • Updated Date : 02/26/2021 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,624 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Gold

Listing Agent's Description

Wonderful two story home, located in Woodland Village. This home features 3 bedrooms, 2.5 bathrooms, and a 2 car garage. Open kitchen, and easy maintenance vinyl floors throughout the downstairs area. Spacious backyard with grass, a paver patio, and a 30+ft gardening bed with a drip line. There is RV Parking too! You are also within walking distance of several parks. You don't want to miss out on this house!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Woodland Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $118k347k

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

Neighborhood: Woodland Village

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900Rent in $11081912

* 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
Gomes Elementary School Primary Regular 496 24 7
North Valleys High School High Regular 2,061 96 3
Nancy Gomes Elementary School Primary Unknown NA

Gomes Elementary School

  • Education Level: Primary
  • # of students: 496
  • # of teachers: 24
7
GreatSchools Rating

North Valleys High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 96
3
GreatSchools Rating

Nancy Gomes Elementary School

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

$296,100$361,900$329,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,143
Property Tax -$516
Property Insurance -$62
HOA -$111
Property Management Fees -$119
CASH FLOW
-$250

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.

$329,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 12.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,150

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
  • $1,905

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,6954$2,000
$2,000
RENT COMPS ANALYSIS
  • 17531 Desert Lake Dr. Reno, NV 1
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 17725 Davenport Lane Reno, NV 2
    • 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,297 Sqft ∙ Built 2003
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.23
    •  
  • 17881 Mama Bear Court Reno, NV 3
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 2004
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.16
    •  
  • 18346 Vineyard Reno, NV 4
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2006
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
PROPERTY LISTING DETAILS
David Tully
Re/max Gold
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210002266
Last Updated: 02/26/2021
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