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470 Tarn Way Reno, NV 89503

3 Beds 2 Baths 1,370 sqft Built 1964

$385,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $281.02
  • 2 Days on Market
  • MLS # : 210000263
  • Updated Date : 01/10/2021 at 00:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,370 sqft
  • Baths : 2 full
Listing Agent

Ryder Homes Realty, Inc.

Listing Agent's Description

Just minutes from the University, Downtown and hiking trails. Fully landscaped corner lot with beautiful views of the mountains. 3 bedroom- 2 bath- 2 car garage with extra parking, adorable back yard, patio, mature trees and dog run. This home has a tankless water heater, new hardwood flooring, new carpet, new kitchen appliances, remodeled master bathroom and a wood burning fireplace for those cold nights. Look for the 3-D tour.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Reno Foothills

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $142k353k

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

Neighborhood: Reno Foothills

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900Rent in $11081952

* 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
Hug High School High Regular 1,395 69 2

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

Hug High School

  • Education Level: High
  • # of students: 1,395
  • # of teachers: 69
2
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,337
Property Tax -$354
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
-$26

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.

$385,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 13.0%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$20,108

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
  • $1,854

    COMP ESTIMATED VALUE
  • $1.35

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,7004$1,800
$1,800
RENT COMPS ANALYSIS
  • 470 Tarn Way Reno, NV 1
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1442 Surf Way Reno, NV 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.36
    •  
  • 1785 W 6th St Reno, NV 3
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1960
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.20
    •  
  • 1980 Simpson Ave Reno, NV 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.50
    •  
PROPERTY LISTING DETAILS
Melissa Mccain
Ryder Homes Realty, Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000263
Last Updated: 01/10/2021
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