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2605 Merrit Carson City, NV 89701

3 Beds 2 Baths 1,144 sqft Built 1968

INVESTimate

$335,000

List Price

$1,370

$1,233 - $1,507

Rent Est.

$376,038  ( +12.25%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1968
  • Price/Sqft : $292.83
  • 13 Days on Market
  • MLS # : 200011255
  • Updated Date : 08/25/2020 at 06:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,144 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

Very cute 3 bed, 2 bath single-story home conveniently located just minutes from downtown Carson City with easy freeway access from I580. 2016 updates include furnace and insulation in crawlspace. Additional features include Granite countertops, stainless steel appliances and updated kitchen and bathrooms. RV parking, gas fireplace and low-maintenance yard.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 89701

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300kPrice in $134k312k

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

Zip Code: 89701

No Data Available.

* 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
Bordewich Bray Elementary School Primary Regular 650 39 6
Carson Middle School Middle Regular 1,061 56 NA
Carson High School High Regular 2,157 100 7

Bordewich Bray Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 39
6
GreatSchools Rating

Carson Middle School

  • Education Level: Middle
  • # of students: 1,061
  • # of teachers: 56
NA
GreatSchools Rating

Carson High School

  • Education Level: High
  • # of students: 2,157
  • # of teachers: 100
7
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,233$1,507$1,370

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,236
Property Tax -$103
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$139

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$335,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 12.25%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,707

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
  • $1,426

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,4003$1,5754$1,650
$1,650
RENT COMPS ANALYSIS
  • 2605 Merrit Carson City, 1
    • 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,144 Sqft ∙ Built 1968
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1170 Goldfield Ave Carson City, 2
    • 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,124 Sqft ∙ Built 1979
    property image
    LEASED 04/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.25
    •  
  • 2270 Meadowbrook Lane Carson City, 3
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1985
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.20
    •  
  • 3371 Kitchen Dr Carson City, 4
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1987
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.29
    •  
PROPERTY LISTING DETAILS
Michael Paidakovich
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011255
Last Updated: 08/25/2020
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