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1775 W 6th Reno, NV 89503

3 Beds 2 Baths 1,414 sqft Built 1959

INVESTimate

$340,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$384,166  ( +12.99%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1959
  • Price/Sqft : $240.45
  • 9 Days on Market
  • MLS # : 200011306
  • Updated Date : 08/21/2020 at 00:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,414 sqft
  • Baths : 2 full
Listing Agent

Clark Real Estate & Inv.

Listing Agent's Description

Charming home in Old NW Reno neighborhood! Refinished hardwood floors throughout! Cute property has a large addition bonus space that can be used as family room, rec/playroom or whatever you can envision! Open paver patio space to entertain your guests and plenty of room to start a garden. Windows upgraded throughout. This beauty wont last!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northridge Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k347k

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

Neighborhood: Northridge Heights

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900Rent in $10721912

* 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
Elmcrest Elementary School Primary Regular 357 23 4
Elmcrest Elementary School Middle Regular 357 23 4
Reno High School High Regular 1,668 71 10

Elmcrest Elementary School

  • Education Level: Primary
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Elmcrest Elementary School

  • Education Level: Middle
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Reno High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 71
10
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

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

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,254
Property Tax -$105
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$165

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.

$340,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 12.99%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$45,776

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
  • $1,870

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,7004$1,7005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1775 W 6th Reno, 1
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1442 Surf Way Reno, 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965
    property image
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.36
    •  
  • 1785 W 6th St Reno, 3
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1960
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.20
    •  
  • 930 Melba Drive Reno, 4
    • 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.46
    •  
  • 1905 California Ave. Reno, 5
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1967
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Kristin Gandolfo
Clark Real Estate & Inv.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011306
Last Updated: 08/21/2020
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