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304 E. Queen Sparks, NV 89431

3 Beds 3 Baths 2,350 sqft Built 2007

$470,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $200.00
  • 10 Days on Market
  • MLS # : 210001164
  • Updated Date : 02/05/2021 at 06:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,350 sqft
  • Baths : 2 full , 1 half
Listing Agent

Assist-2-sell Buyers & Sellers

Listing Agent's Description

Come and see this 2350 s. ft custom built home that sits on 0.39 acres with no HOA fees. This 3 bedroom, 2 1/2 bath house has upgraded energy star appliances, granite countertops, wood floors, a roomy 2 car garage and on-site RV parking, mountain and city views, and an on-demand tankless water heater powered by natural gas. Upstairs you will find two more bedrooms, one bath and a master bedroom and bath with a jetted tub to relax in at the end of the day.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Rocky Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $102k370k

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

Neighborhood: Rocky Ridge

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9221895

* 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
Juniper Elementary School Primary Regular 464 25 5
Mendive Middle School Middle Magnet 1,089 43 NA
Reed High School High Regular 1,992 65 6

Juniper Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 25
5
GreatSchools Rating

Mendive Middle School

  • Education Level: Middle
  • # of students: 1,089
  • # of teachers: 43
NA
GreatSchools Rating

Reed High School

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

$423,000$517,000$470,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,632
Property Tax -$754
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$583

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.

$470,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 13.3%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$130,300

INVESTMENT

$130,300

Down Payment
$117,500
Rehab Estimate
$5,750
Closing Costs
$7,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,632

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,500
Loan Amount $352,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$146

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
  • $2,468

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,400
$2,400
RENT COMPS ANALYSIS
  • 304 E. Queen Sparks, NV 1
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 4821 Ravello Sparks, NV 2
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2012
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
PROPERTY LISTING DETAILS
Trulie Mccabe
Assist-2-sell Buyers & Sellers
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001164
Last Updated: 02/05/2021
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