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5970 Promontory Dr Reno, NV 89523

4 Beds 3 Baths 2,035 sqft Built 2012

$460,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $226.04
  • 8 Days on Market
  • MLS # : 200017026
  • Updated Date : 12/24/2020 at 14:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,035 sqft
  • Baths : 3 full
Listing Agent

Elite Residential Real Estate

Listing Agent's Description

Fabulous opportunity to experience spacious living in the desirable Northwest. This home offers 4 bedrooms, 3 baths, open great room, loft area and a spacious kitchen. Full bath, bedroom, kitchen, great room, laundry and dining area conveniently located on one level. Large loft and Master suite on upper level, and two bedrooms and a full bath downstairs. New paint, New carpet in bedrooms and New laminate vinyl plank throughout.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Highland Place

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $140k351k

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

Neighborhood: Highland Place

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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,697
Property Tax -$772
Property Insurance -$70
HOA -$96
Property Management Fees -$119
CASH FLOW
-$415

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.

$460,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.51%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$2,446

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
  • $2,452

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0953$2,1004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 5970 Promontory Dr Reno, NV 1
    • 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,035 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1454 Snow Summit Drive Reno, NV 2
    • 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2013
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.19
    •  
  • 6541 Breckenridge Reno, NV 3
    • 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 2340 Blue Canyon Ct Reno, NV 4
    • 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,760 Sqft ∙ Built 2004
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.25
    •  
  • 1609 Clover Hill Trail Reno, NV 5
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005
    property image
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
PROPERTY LISTING DETAILS
Jennifer Vannoy
Elite Residential Real Estate
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200017026
Last Updated: 12/24/2020
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