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2800 Severn Drive Reno, NV 89503

4 Beds 2 Baths 1,828 sqft Built 1980

$409,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $224.23
  • 2 Days on Market
  • MLS # : 200016737
  • Updated Date : 12/12/2020 at 22:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,828 sqft
  • Baths : 2 full
Listing Agent

Reno Realty

Listing Agent's Description

Wonderful opportunity in Northwest Reno. Featuring breathtaking views of downtown Reno and no rear neighbors. This home comes upgraded with a brand new roof, newer vinyl dual pain windows, newer garage door, newer furnace with central AC, newer dishwasher and main floor bathroom vanity. 4 spacious bedrooms, a large deck with panoramic views of the city and the mountains make this home a real delight.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Kings Row

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $125k347k

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

Neighborhood: Kings Row

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900Rent in $11081912

* 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
Towles Elementary School Primary Regular 353 21 7
Towles Elementary School Middle Regular 353 21 7
Mcqueen High School High Regular 1,828 83 10

Towles Elementary School

  • Education Level: Primary
  • # of students: 353
  • # of teachers: 21
7
GreatSchools Rating

Towles Elementary School

  • Education Level: Middle
  • # of students: 353
  • # of teachers: 21
7
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$368,910$450,890$409,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,512
Property Tax -$420
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$128

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.

$409,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 5.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,512

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$17,310

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
  • $2,038

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8503$1,8954$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2800 Severn Drive Reno, NV 1
    • 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3675 Pomo Drive Reno, NV 2
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 4438 Highplains Reno, NV 3
    • 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1993
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.09
    •  
  • 3565 Buckhorn Way Reno, NV 4
    • 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 1964
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.05
    •  
  • 2470 Keystone Ave Reno, NV 5
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1987
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
PROPERTY LISTING DETAILS
Kristopher Kent
Reno Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016737
Last Updated: 12/12/2020
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