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179 Walnut Drive Fernley, NV 89408

3 Beds 2 Baths 1,608 sqft Built 2018

$319,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $198.38
  • 3 Days on Market
  • MLS # : 200016076
  • Updated Date : 11/22/2020 at 03:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

This charming 3 bed, 2 bath, 2 car garage home is 2 years old and feels brand new. Located in one of Fernley's newest communities with a spacious open floor plan with newly updated flooring, GE appliances, new black out blinds, new kitchen backsplash, new fan in master, shelving in garage and a separate food pantry. In the backyard you will find a newly poured spacious concrete patio for all of your BBQ and entertaining needs. Close to schools, shopping, gyms, restaurants and easy highway access.

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
Fernley Elementary School Primary Regular 450 13 4
Fernley Intermediate School Middle Regular 535 10 NA
Fernley High School High Regular 951 21 6

Fernley Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 13
4
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
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,177
Property Tax -$274
Property Insurance -$60
HOA -$22
Property Management Fees -$119
CASH FLOW
-$73

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.

$319,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,584

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
  • $1,576

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,3953$1,495
$1,495
RENT COMPS ANALYSIS
  • 179 Walnut Drive Fernley, NV 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 715 Shadow Lane Fernley, NV 2
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1998
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 943 Atrium Road Fernley, NV 3
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2000
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.90
    •  
PROPERTY LISTING DETAILS
James Nava
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016076
Last Updated: 11/22/2020
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