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3435 Strasser Drive Sparks, NV 89431

3 Beds 2 Baths 1,296 sqft Built 1966

$349,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1966
  • Price/Sqft : $269.98
  • 5 Days on Market
  • MLS # : 200015373
  • Updated Date : 11/04/2020 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,296 sqft
  • Baths : 2 full
Listing Agent

Harcourts Vanguard

Listing Agent's Description

Must see home! Come check out this turnkey home centrally located in convenient Sparks location. The home as been freshly painted inside and outside, floors have been redone, new cabinets, and new granite countertops. Schedule your apt soon as this will property will not last long.

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
Juniper Elementary School Middle Regular 464 25 5
Reed High School High Regular 1,992 65 6

Juniper Elementary School

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

Juniper Elementary School

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

Reed High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,291
Property Tax -$276
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$261

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.

$349,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.42%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,190

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
  • $1,495

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,6954$1,795
$1,795
RENT COMPS ANALYSIS
  • 3435 Strasser Drive Sparks, NV 1
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1966
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 296 E Quail Street Sparks, NV 2
    • 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,400 Sqft ∙ Built 1972
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.18
    •  
  • 3139 Saltern Way Sparks, NV 3
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 1974
    property image
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.18
    •  
  • 3340 Wilma Drive Sparks, NV 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Mario Dominguez
Harcourts Vanguard
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015373
Last Updated: 11/04/2020
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