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6243 Chesterfield Lane Reno, NV 89523

3 Beds 2 Baths 1,270 sqft Built 1987

$379,999

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $299.21
  • 3 Days on Market
  • MLS # : 200016263
  • Updated Date : 11/28/2020 at 17:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,270 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Super charming home located in NW Reno featuring 3 bedrooms, 2 baths and an oversized 2 car garage. Brand new furnace and A/C, stainless steel appliances, including refrigerator, cozy fireplace with tile hearth. Mature landscaping with plenty of outdoor living area. Easy access to great schools, shopping and Highway 80.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Mae Anne Avenue

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $142k347k

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

Neighborhood: Mae Anne Avenue

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900Rent in $10351912

* 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
 

$341,999$417,999$379,999

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,402
Property Tax -$446
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$461

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.

$379,999

PROJECTED PRICE

$1,560

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 14.4%
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-$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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $284,999
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$670

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
  • $1,480

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,695
$1,695
RENT COMPS ANALYSIS
  • 6243 Chesterfield Lane Reno, NV 1
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1065 Backer Way Reno, NV 2
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1990
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.21
    •  
  • 2266 Sapphire Ridge Reno, NV 3
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2002
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jen Mcdonald
Exp Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016263
Last Updated: 11/28/2020
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