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2970 N Fork #rd Fernley, NV 89408

3 Beds 2 Baths 1,850 sqft Built 2004

$390,500

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $211.08
  • 7 Days on Market
  • MLS # : 210000108
  • Updated Date : 01/10/2021 at 06:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

Nevada Prime Real Estate Llc

Listing Agent's Description

Spacious and open, this home gives you a warm and cozy feeling right when you enter. Large living room includes gas log fireplace, built-in entertainment area and ceiling fan. Kitchen features stainless steel appliances: gas range with double oven, built-in microwave and dishwasher, plus island/breakfast bar and pantry. Office/den could serve as game room, home gym, library or play room. Master suite includes double doors, double sinks, jetted tub and huge walk-in closet. Reverse osmosis.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 89408

ZipNIR Market*CityMarket2010Year20022019100k120k140k160k180k200k220k240kPrice in $91k245k

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

Zip Code: 89408

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
East Valley Elementary School Primary Regular 436 13 8
Fernley Intermediate School Middle Regular 535 10 NA
Fernley High School High Regular 951 21 6

East Valley Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 13
8
GreatSchools Rating

Fernley Intermediate School

  • Education Level: Middle
  • # of students: 535
  • # of teachers: 10
NA
GreatSchools Rating

Fernley High School

  • Education Level: High
  • # of students: 951
  • # of teachers: 21
6
GreatSchools Rating
 

$351,450$429,550$390,500

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,356
Property Tax -$308
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$242

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.

$390,500

PROJECTED PRICE

$2,090

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,233

INVESTMENT

$109,233

Down Payment
$97,625
Rehab Estimate
$5,750
Closing Costs
$5,858

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,356

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,625
Loan Amount $292,875
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$40,389

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
  • $2,257

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,845
$1,845
RENT COMPS ANALYSIS
  • 2970 N Fork #rd Fernley, NV 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2216 Windrow Dr Fernley, NV 2
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2019
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.22
    •  
PROPERTY LISTING DETAILS
Michelle Barney
Nevada Prime Real Estate Llc
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000108
Last Updated: 01/10/2021
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