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1898 Star Bright Way Reno, NV 89523

4 Beds 3 Baths 2,134 sqft Built 2015

INVESTimate

$451,297

List Price

$2,280

$2,052 - $2,508

Rent Est.

$510,372  ( +13.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $211.48
  • 8 Days on Market
  • MLS # : 200011419
  • Updated Date : 08/25/2020 at 06:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,134 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

Gated community of Somersett - The Vue. Beautiful Florsheim home with lovely views. A premier corner lot with gorgeous mountain views. Upgrades include beautiful Hickory floors downstairs, slab granite kitchen counters and stainless steel GE Appliance package. Extensive landscaping including trees and large paver patio that backs to a park area. Very low maintenance with lots of light!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Somersett Village

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Somersett Village

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2120013001400150016001700180019002000210022002300Rent in $11802358

* 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
Westergard Elementary School Primary Regular 638 31 7
Billinghurst Middle School Middle Regular 931 44 NA
Mcqueen High School High Regular 1,828 83 10

Westergard Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 31
7
GreatSchools Rating

Billinghurst Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 44
NA
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$406,167$496,427$451,297

PURCHASE PRICE

$2,052$2,508$2,280

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$1.8M

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,665
Property Tax -$327
Property Insurance -$72
HOA -$194
Property Management Fees -$119
CASH FLOW
-$98

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$451,297

PROJECTED PRICE

$2,280

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 13.09%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,344

INVESTMENT

$125,344

Down Payment
$112,824
Rehab Estimate
$5,750
Closing Costs
$6,769

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,665

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,824
Loan Amount $338,473
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$23,187

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
  • $2,440

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,2754$2,300
$2,300
RENT COMPS ANALYSIS
  • 1898 Star Bright Way Reno, 1
    • 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,134 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2177 Tara Ridge Trail Reno, 2
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 2121 Tara Ridge Trail Reno, 3
    • 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,135 Sqft ∙ Built 2018
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.07
    •  
  • 1609 Clover Hill Trail Reno, 4
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
PROPERTY LISTING DETAILS
Lisamarie Wand
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011419
Last Updated: 08/25/2020
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