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

450 N Arlington #303 Reno, NV 89503

1 Beds 1 Baths 573 sqft Built 1974

$182,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $317.63
  • 2 Days on Market
  • MLS # : 200017014
  • Updated Date : 12/20/2020 at 01:46
CONSTRUCTION
  • Beds : 1
  • Floor Size : 573 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

Wonderful 3rd story luxury condo located in the heart of downtown Reno. This 1 bedroom, 1 bathroom unit has been beautifully maintained. Offering an open floor plan, you can enjoy your coffee at the breakfast bar or view the western mountaintops from your oversized living room windows. You will love your in-unit laundry area and the proximity to the parking garage, which is located on the same level as your unit. Walk to all of the amazing events downtown Reno has to offer.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Downtown Reno

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k347k

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

Neighborhood: Downtown Reno

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
Elmcrest Elementary School Primary Regular 357 23 4
Elmcrest Elementary School Middle Regular 357 23 4
Reno High School High Regular 1,668 71 10

Elmcrest Elementary School

  • Education Level: Primary
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Elmcrest Elementary School

  • Education Level: Middle
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Reno High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 71
10
GreatSchools Rating
 

$163,800$200,200$182,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$672
Property Tax -$6
Property Insurance -$39
HOA -$353
Property Management Fees -$119
CASH FLOW
-$78

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.

$182,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 10.4%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,980

INVESTMENT

$53,980

Down Payment
$45,500
Rehab Estimate
$5,750
Closing Costs
$2,730

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$672

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,500
Loan Amount $136,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$5,070

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
  • $693

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$8753$875
$875
RENT COMPS ANALYSIS
  • 450 N Arlington #303 Reno, NV 1
    • 1 beds 1 baths ∙ 573 Sqft ∙ Built 1974 1 beds 1 baths ∙ 573 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1365 Stardust St. #2 Reno, NV 2
    • 1 beds 1 baths ∙ 700 Sqft ∙ Built 1964 1 beds 1 baths ∙ 700 Sqft ∙ Built 1964
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $1.25
    •  
  • 1365 Stardust St. Reno, NV 3
    • 1 beds 1 baths ∙ 750 Sqft ∙ Built 1964 1 beds 1 baths ∙ 750 Sqft ∙ Built 1964
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $1.17
    •  
PROPERTY LISTING DETAILS
Mckenna Berg
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200017014
Last Updated: 12/20/2020
BESbswy