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5651 W Rainbow Ridge Court Reno, NV 89523

4 Beds 3 Baths 2,272 sqft Built 1988

$490,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $215.67
  • 6 Days on Market
  • MLS # : 200016171
  • Updated Date : 11/26/2020 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,272 sqft
  • Baths : 3 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Gorgeous single-family home in Northwest Reno! Surrounded by great schools, shopping, restaurants and just minutes from I-80 this fabulous 4 bedroom / 3-bedroom home is sure to have everything you have been looking for. Brand new laminate flooring greets you as you enter the home and marvel over the extra high ceilings, fresh paint, overly spacious living room and grand dining room.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $142k359k

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

Neighborhood: Sierra Highlands

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900Rent in $11031912

* 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
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,808
Property Tax -$657
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
-$360

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.

$490,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 11.8%
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-$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$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$6,554

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,329

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1003$2,2004$2,3005$2,600
$2,600
RENT COMPS ANALYSIS
  • 5651 W Rainbow Ridge Court Reno, NV 4
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
  • 2260 Emerald View Court Reno, NV 1
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2002
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.02
    •  
  • 4544 Windcrest Reno, NV 2
    • 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1991
    LEASED 05/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 1545 Grandpoint Way Reno, NV 3
    • 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,287 Sqft ∙ Built 1989
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 5230 Mountcrest Lane Reno, NV 5
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1988
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.14
    •  
PROPERTY LISTING DETAILS
Dustin Hall
Re/max Professionals
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016171
Last Updated: 11/26/2020
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