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3675 Renee Way Reno, NV 89503

4 Beds 3 Baths 1,668 sqft Built 1972

$468,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $280.58
  • 4 Days on Market
  • MLS # : 210002240
  • Updated Date : 02/26/2021 at 00:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,668 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

Very spacious 4 bedroom, 3 bathroom, 2 car garage w/ RV parking and off street parking located in a quaint cul-du-sac. Fully renovated w/ new 50 year roof, gutters, brand new flooring in living room, kitchen and bathrooms. New gas oven, furnace, and water heater. New a/c unit installed. Plenty of storage w/ workshop in garage. Close to shopping, restaurants, parks, schools, and downtown. Two storage sheds in backyard and dog run on side yard. Cozy fireplace in new master. Kitchen appliances to stay.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northridge Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k347k

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

Neighborhood: Northridge Hills

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900Rent in $9911912

* 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
Archie Clayton Pre-ap Academy Middle Magnet 727 33 NA
Mcqueen High School High Regular 1,828 83 10
Archie Clayton Pre-ap Academy Middle Unknown NA

Archie Clayton Pre-ap Academy

  • Education Level: Middle
  • # of students: 727
  • # of teachers: 33
NA
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating

Archie Clayton Pre-ap Academy

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

$421,200$514,800$468,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,626
Property Tax -$342
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$289

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.

$468,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 13.0%
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-$5.0k$0.0$5.0k$10k$15k

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$129,770

INVESTMENT

$129,770

Down Payment
$117,000
Rehab Estimate
$5,750
Closing Costs
$7,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,626

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $117,000
Loan Amount $351,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,398

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8503$1,8604$2,0205$2,100
$2,100
RENT COMPS ANALYSIS
  • 3675 Renee Way Reno, NV 3
    • 4 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972 4 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.12
    •  
  • 3949 Kings Row Reno, NV 1
    • 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,471 Sqft ∙ Built 1984
    LEASED 01/14/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
  • 3675 Pomo Drive Reno, NV 2
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 1972
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.11
    •  
  • 1790 Terrace Heights Lane Reno, NV 4
    • 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 1988
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.21
    •  
  • 2470 Keystone Ave Reno, NV 5
    • 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,740 Sqft ∙ Built 1987
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.21
    •  
PROPERTY LISTING DETAILS
James Nava
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210002240
Last Updated: 02/26/2021
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