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1980 Phillips Street Reno, NV 89509

3 Beds 2 Baths 1,860 sqft Built 1967

$490,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1967
  • Price/Sqft : $263.44
  • 2 Days on Market
  • MLS # : 210000566
  • Updated Date : 01/17/2021 at 05:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,860 sqft
  • Baths : 2 full
Listing Agent

Ferrari-lund Real Estate Reno

Listing Agent's Description

Mid century home in the middle of it all! Enjoy nearby Midtown, walk around the corner to Reno’s fine restaurants or grab a cup of coffee. Convenience and a yard, with a fabulous new deck and mature trees. Quiet street to come home to. This split level home features large rooms, a wood burning fireplace, air conditioning and ceiling fans in all the bedrooms. Recently updated kitchen appliances are all included. Kitchen and dining area are open to one another; makes the flow of cooking to table seamless!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Country Club Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $136k439k

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

Neighborhood: Country Club Heights

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900200021002200Rent in $11222208

* 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
Beck Elementary School Primary Regular 570 27 7
Beck Elementary School Middle Regular 570 27 7
Reno High School High Regular 1,668 71 10

Beck Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 27
7
GreatSchools Rating

Beck Elementary School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
7
GreatSchools Rating

Reno High School

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

$441,000$539,000$490,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,702
Property Tax -$423
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$271

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.

$490,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$10,696

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
  • $2,195

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$2,0954$2,2005$2,450
$2,450
RENT COMPS ANALYSIS
  • 1980 Phillips Street Reno, NV 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 1967
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1690 Wilbur Place Reno, NV 2
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1955
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.26
    •  
  • 1760 Hunter Lake Dr Reno, NV 3
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1977
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.19
    •  
  • 860 Meadow Springs Reno, NV 4
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1975
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.16
    •  
  • 2240 Saddle Ridge Ct. Reno, NV 5
    • 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,207 Sqft ∙ Built 1984
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.11
    •  
PROPERTY LISTING DETAILS
Susan Hoog
Ferrari-lund Real Estate Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000566
Last Updated: 01/17/2021
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