Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3200 Elaine Way Sparks, NV 89431

4 Beds 2 Baths 1,296 sqft Built 1964

$325,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $250.77
  • 7 Days on Market
  • MLS # : 210000925
  • Updated Date : 01/30/2021 at 06:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent

Dickson Realty - Sparks

Listing Agent's Description

Great starter home or investment opportunity for a 4 bedroom 2 bath in Sparks. Most of the windows have been replaced. Original wood floor through-out except in kitchen and dining area where there is tile. Roof is about 15 years old. Garage was turned into living area at some point there is no knowledge or permits. Adorable backyard. Home is ready for you to put your own personal touches on it!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k344k

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

Neighborhood: Sierra Estates

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2900100011001200130014001500160017001800Rent in $8381873

* 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,129
Property Tax -$274
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$24

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.

$325,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 12.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$21,212

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
  • $1,490

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,6504$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3200 Elaine Way Sparks, NV 1
    • 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,296 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2613 Drexel Sparks, NV 2
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.14
    •  
  • 296 E Quail Street Sparks, NV 3
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 3139 Saltern Way Sparks, NV 4
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1974
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.18
    •  
  • 3340 Wilma Drive Sparks, NV 5
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Jenna White
Dickson Realty - Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000925
Last Updated: 01/30/2021
BESbswy