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5441 Morning Star Reno, NV 89523

3 Beds 2 Baths 1,836 sqft Built 1996

$450,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $245.10
  • 4 Days on Market
  • MLS # : 200015471
  • Updated Date : 11/07/2020 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,836 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

Cheery and bright this home features brand new neutral paint and lots of natural light. New waterproof luxury vinyl plank in the bedrooms and formal living room the rest of the home features ceramic tile. Outside you have an easy to maintain xeriscaped yard with automatic drip and lawn that stays green all year and never has to be mowed! Patio that does not need to be covered due to the mature landscaping and sun exposure.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Morning Star at Northgate

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380kPrice in $142k399k

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

Neighborhood: Morning Star at Northgate

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
Winnemucca Elementary School Primary Regular 630 33 7
Winnemucca Elementary School Middle Regular 630 33 7
Mcqueen High School High Regular 1,828 83 10

Winnemucca Elementary School

  • Education Level: Primary
  • # of students: 630
  • # of teachers: 33
7
GreatSchools Rating

Winnemucca Elementary School

  • Education Level: Middle
  • # of students: 630
  • # of teachers: 33
7
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,660
Property Tax -$704
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$529

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.

$450,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 10.0%
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-$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$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$636

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,020

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,199

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$2,020
1$2,0202$2,0203$2,0954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5441 Morning Star Reno, NV 2
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.10
    •  
  • 1790 Terrace Heights Lane Reno, NV 1
    • 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,669 Sqft ∙ Built 1988
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $1.21
    •  
  • 1454 Snow Summit Drive Reno, NV 3
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2013
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.19
    •  
  • 6541 Breckenridge Reno, NV 4
    • 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 2340 Blue Canyon Ct Reno, NV 5
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2004
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.25
    •  
PROPERTY LISTING DETAILS
Amber Klingensmith
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015471
Last Updated: 11/07/2020
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