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2195 W Plumb Ln Reno, NV 89509

5 Beds 4 Baths 3,284 sqft Built 1958

INVESTimate

$640,000

List Price

$2,900

$2,650 - $3,150

Rent Est.

$715,776  ( +11.84%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1958
  • Price/Sqft : $194.88
  • 4 Days on Market
  • MLS # : 200011647
  • Updated Date : 08/24/2020 at 05:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,284 sqft
  • Baths : 3 full , 1 half
Listing Agent

Chase International-damonte

Listing Agent's Description

Location,Location,Location! Beautiful home located in the Reno Old Southwest area. New ceramic tile in kitchen area and dining area, updated fireplaces front and back. New carpet in all rooms. Fresh neutral paint color through out the house. New garage doors. Washer & Dryer Stays in property. Property located in a corner lot,fully fenced front privacy cement sound courtyard.

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PRICE & RENT TRENDS

Neighborhood: Idlewild Park

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Idlewild Park

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900200021002200Rent in $11802208

* 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
 

$576,000$704,000$640,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,361
Property Tax -$847
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
-$524

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.

$640,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 11.84%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,949

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
  • $2,874

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$3,950
$3,950
RENT COMPS ANALYSIS
  • 2195 W Plumb Ln Reno, 1
    • 5 beds 4 baths ∙ 3,284 Sqft ∙ Built 1958 5 beds 4 baths ∙ 3,284 Sqft ∙ Built 1958
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2100 Riviera Reno, 2
    • 5 beds 2 baths ∙ 3,289 Sqft ∙ Built 1938 5 beds 2 baths ∙ 3,289 Sqft ∙ Built 1938
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.61
    •  
  • 1735 Mcnevin Ct. Reno, 3
    • 4 beds 4 baths ∙ 3,468 Sqft ∙ Built 1977 4 beds 4 baths ∙ 3,468 Sqft ∙ Built 1977
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,950
    • $1.14
    •  
PROPERTY LISTING DETAILS
Yadira Izquierdo
Chase International-damonte
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011647
Last Updated: 08/24/2020
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