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4501 Alder Drive Reno, NV 89502

3 Beds 2 Baths 1,221 sqft Built 1962

$329,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $270.19
  • 3 Days on Market
  • MLS # : 210002739
  • Updated Date : 03/05/2021 at 18:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,221 sqft
  • Baths : 2 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Come see this charming house located in central Reno. Located next to prime shopping and restaurants. You won't find this price anywhere else in town for what this home has to offer: Open Floorplan, Wood Burning fireplace, beautiful laminate wood flooring, and it includes a laundry room inside, not in the garage like many in this neighborhood. The fully insulated shed out back has electrical wiring and is carpeted with a large window to convert into that shop you always wanted (not included in Sqft).

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Smithridge Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k347k

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

Neighborhood: Smithridge Park

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
Smithridge Stem Academy Primary Regular 731 42 3
Pine Middle School Middle Magnet 1,022 43 NA
Damonte Ranch High School High Regular 1,617 70 8

Smithridge Stem Academy

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 42
3
GreatSchools Rating

Pine Middle School

  • Education Level: Middle
  • # of students: 1,022
  • # of teachers: 43
NA
GreatSchools Rating

Damonte Ranch High School

  • Education Level: High
  • # of students: 1,617
  • # of teachers: 70
8
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,146
Property Tax -$284
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$12

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.

$329,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 13.5%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,495

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
  • $1,551

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5503$2,000
$2,000
RENT COMPS ANALYSIS
  • 4501 Alder Drive Reno, NV 1
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1090 E Huffaker Ln #b Reno, NV 2
    • 3 beds 3 baths ∙ 1,395 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,395 Sqft ∙ Built 1974
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.11
    •  
  • 844 E Huffaker Ln Reno, NV 3
    • 3 beds 3 baths ∙ 1,395 Sqft ∙ Built 1974 3 beds 3 baths ∙ 1,395 Sqft ∙ Built 1974
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.43
    •  
PROPERTY LISTING DETAILS
Lindsay Clarke
Re/max Professionals
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210002739
Last Updated: 03/05/2021
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