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505 Tina Court Sparks, NV 89436

3 Beds 2 Baths 1,877 sqft Built 1996

$480,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $255.73
  • 2 Days on Market
  • MLS # : 210003578
  • Updated Date : 03/20/2021 at 17:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,877 sqft
  • Baths : 2 full
Listing Agent

Chase International-sparks

Listing Agent's Description

This great property is nestled in the cul-de-sac and situated on nearly a half-acre lot. Low maintenance front yard is xeriscaped. Beautiful mountain views can be seen from the covered back patio which extends the length of the house. The backyard is a blank canvas waiting for your landscaping imagination. RV access and parking, 3 car garage plus storage shed included for additional storage.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Spanish Springs Village

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $142k344k

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

Neighborhood: Spanish Springs Village

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9631873

* 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
Shaw Middle School Middle Regular 1,008 43 NA
Spanish Springs High School High Regular 2,315 95 6
Shaw Middle School Middle Unknown NA

Shaw Middle School

  • Education Level: Middle
  • # of students: 1,008
  • # of teachers: 43
NA
GreatSchools Rating

Spanish Springs High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 95
6
GreatSchools Rating

Shaw Middle School

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

$432,000$528,000$480,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,667
Property Tax -$570
Property Insurance -$67
HOA -$100
Property Management Fees -$119
CASH FLOW
-$423

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.

$480,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 11.0%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$132,950

INVESTMENT

$132,950

Down Payment
$120,000
Rehab Estimate
$5,750
Closing Costs
$7,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,667

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $120,000
Loan Amount $360,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,297

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
  • $2,290

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,895
$1,895
RENT COMPS ANALYSIS
  • 505 Tina Court Sparks, NV 1
    • 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,877 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 459 Beau Ct. Sparks, NV 2
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.22
    •  
PROPERTY LISTING DETAILS
Roxanne Warren
Chase International-sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210003578
Last Updated: 03/20/2021
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