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4623 Canyon Ridge Ln Reno, NV 89523

3 Beds 3 Baths 1,845 sqft Built 1991

$440,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $238.48
  • 6 Days on Market
  • MLS # : 210001266
  • Updated Date : 02/07/2021 at 06:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,845 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Professionals

Listing Agent's Description

This charming home in great Northwest neighborhood is located on a quiet street just around the corner from Summit Ridge Park. Tons of windows and vaulted ceilings fill this home with natural light. A traditional red brick fireplace in the comfortable family room invites you to cozy up on winter nights. The kitchen in the heart of the home looks out into the backyard from a garden window and features newer SST gas range and dishwasher. New roof in 2018 and new hot water heater in 2015. Don't miss this one!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sage Point

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360kPrice in $142k374k

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

Neighborhood: Sage Point

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900Rent in $11081912

* 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
Reno High School High Regular 1,668 71 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

Reno High School

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

Archie Clayton Pre-ap Academy

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

$396,000$484,000$440,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,528
Property Tax -$590
Property Insurance -$66
HOA -$30
Property Management Fees -$119
CASH FLOW
-$513

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.

$440,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$372

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
  • $1,956

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8003$1,8504$1,8955$2,200
$2,200
RENT COMPS ANALYSIS
  • 4623 Canyon Ridge Ln Reno, NV 1
    • 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2700 Dana Kristin Lane Reno, NV 2
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2009
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
  • 998 Edge Cliff Reno, NV 3
    • 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,917 Sqft ∙ Built 1990
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 4438 Highplains Reno, NV 4
    • 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,743 Sqft ∙ Built 1993
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.09
    •  
  • 3283 Spring Creek Circle Reno, NV 5
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1993
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.10
    •  
PROPERTY LISTING DETAILS
Julie Knecht
Re/max Professionals
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001266
Last Updated: 02/07/2021
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