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2394 Fernwood Sparks, NV 89434

3 Beds 2 Baths 1,676 sqft Built 1982

$388,800

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $231.98
  • 3 Days on Market
  • MLS # : 210000009
  • Updated Date : 01/01/2021 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

Chase International-sparks

Listing Agent's Description

INVESTER ALLERT!! SECURE THIS DESIRABLE HOME NOW AND COVER YOUR COSTS FOR 6 MONTHS OR MORE WITH THE CURRENT OWNERS AS YOUR RENTERS! SELLERS ARE IN ESCROW ON A NEW BUILD THAT WILL HOPEFULLY BE DONE BY JULY! Well maintained 3 bedroom, 2 bath home in ideal end of cul-de-sac location with a large lot that affords privacy. This home features vaulted ceilings with Velux skylights in the living room and kitchen. The kitchen has granite countertops with a large movable granite island and stainless appliances,

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Reed

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $138k344k

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

Neighborhood: Reed

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9181873

* 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
Diedrichsen Elementary School Primary Regular 412 21 7
Diedrichsen Elementary School Middle Regular 412 21 7
Reed High School High Regular 1,992 65 6

Diedrichsen Elementary School

  • Education Level: Primary
  • # of students: 412
  • # of teachers: 21
7
GreatSchools Rating

Diedrichsen Elementary School

  • Education Level: Middle
  • # of students: 412
  • # of teachers: 21
7
GreatSchools Rating

Reed High School

  • Education Level: High
  • # of students: 1,992
  • # of teachers: 65
6
GreatSchools Rating
 

$349,920$427,680$388,800

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,435
Property Tax -$454
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$310

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.

$388,800

PROJECTED PRICE

$1,760

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 12.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$108,782

INVESTMENT

$108,782

Down Payment
$97,200
Rehab Estimate
$5,750
Closing Costs
$5,832

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,200
Loan Amount $291,600
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,735

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
  • $1,781

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,8504$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2394 Fernwood Sparks, NV 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1849 Deep Creek Sparks, NV 2
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1981
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 1938 Alpland Ct Sparks, NV 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 981 Glen Martin Sparks, NV 4
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1973
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 2385 Primio Way Sparks, NV 5
    • 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Christy Kuzmik
Chase International-sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000009
Last Updated: 01/01/2021
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