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2865 Laguna Way Sparks, NV 89434

3 Beds 2 Baths 1,616 sqft Built 1977

$389,938

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1977
  • Price/Sqft : $241.30
  • 7 Days on Market
  • MLS # : 200017047
  • Updated Date : 12/24/2020 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,616 sqft
  • Baths : 2 full
Listing Agent

Dickson Realty - Sparks

Listing Agent's Description

Well maintained, and move in ready home to call your own. Open and bright single story home with attractive 3 car garage in convenient location. Full mature landscaping. Many newer updates to systems, roof, paint, etc..(please read extended remarks). Close to schools, shopping, dining and much more!! Please click on link to view virtual tour.

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
 

$350,944$428,932$389,938

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,439
Property Tax -$409
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$328

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.

$389,938

PROJECTED PRICE

$1,700

PROJECTED RENT

0.44%

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$109,084

INVESTMENT

$109,084

Down Payment
$97,485
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,485
Loan Amount $292,454
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,327

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,700

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,717

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,8504$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 2865 Laguna Way Sparks, NV 2
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1977
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 1849 Deep Creek Sparks, NV 1
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1981
    property image
    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
    property image
    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
    property image
    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
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Charles Johns
Dickson Realty - Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200017047
Last Updated: 12/24/2020
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