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200 2nd Street #203 Reno, NV 89501

1 Beds 1 Baths 770 sqft Built 1978

$235,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $305.19
  • 2 Days on Market
  • MLS # : 200017183
  • Updated Date : 12/26/2020 at 19:25
CONSTRUCTION
  • Beds : 1
  • Floor Size : 770 sqft
  • Baths : 1 full
Listing Agent

Re/max Professionals-sparks

Listing Agent's Description

Wonderful Riverwalk Tower 1 bedroom 1 bath condo in downtown Reno, High grade cabinets, granite counters, Master walk-in closet, jetted tub. Enjoy walking to all the gaming action, restaurants, Wingfield Park, the Truckee River and Riverwalk. East facing unit with brand new carpet. Amenities include business center, gym, pool & jacuzzi. An amazing lifestyle opportunity!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Riverwalk District

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $102k430k

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

Neighborhood: Riverwalk District

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900Rent in $9911912

* 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
Hunter Lake Elementary School Primary Regular 360 19 10
Hunter Lake Elementary School Middle Regular 360 19 10
Reno High School High Regular 1,668 71 10

Hunter Lake Elementary School

  • Education Level: Primary
  • # of students: 360
  • # of teachers: 19
10
GreatSchools Rating

Hunter Lake Elementary School

  • Education Level: Middle
  • # of students: 360
  • # of teachers: 19
10
GreatSchools Rating

Reno High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$867
Property Tax -$7
Property Insurance -$44
HOA -$410
Property Management Fees -$119
CASH FLOW
-$187

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.

$235,000

PROJECTED PRICE

$1,260

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 13.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,482

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
  • $1,251

    COMP ESTIMATED VALUE
  • $1.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$9453$1,0954$1,2505$1,395
$1,395
RENT COMPS ANALYSIS
  • 200 2nd Street #203 Reno, NV 1
    • 1 beds 1 baths ∙ 770 Sqft ∙ Built 1978 1 beds 1 baths ∙ 770 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 58 Vine Street Reno, NV 2
    • 1 beds 1 baths ∙ 570 Sqft ∙ Built 1963 1 beds 1 baths ∙ 570 Sqft ∙ Built 1963
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $945
    • $1.66
    •  
  • 569 W Taylor Street Reno, NV 3
    • 1 beds 1 baths ∙ 687 Sqft ∙ Built 1984 1 beds 1 baths ∙ 687 Sqft ∙ Built 1984
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $1.59
    •  
  • 200 W 2nd Street #1404 Reno, NV 4
    • 1 beds 1 baths ∙ 778 Sqft ∙ Built 1978 1 beds 1 baths ∙ 778 Sqft ∙ Built 1978
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.61
    •  
  • 255 N Sierra Street #522 Reno, NV 5
    • 1 beds 1 baths ∙ 849 Sqft ∙ Built 1978 1 beds 1 baths ∙ 849 Sqft ∙ Built 1978
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.64
    •  
PROPERTY LISTING DETAILS
Danny Podesta
Re/max Professionals-sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200017183
Last Updated: 12/26/2020
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