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630 Cardinal Way Reno, NV 89509

3 Beds 3 Baths 2,316 sqft Built 1951

$600,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1951
  • Price/Sqft : $259.07
  • 4 Days on Market
  • MLS # : 200015433
  • Updated Date : 11/06/2020 at 21:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,316 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dickson Realty - Downtown

Listing Agent's Description

BEAUTIFUL OLD SOUTHWEST CHARMER!!! Newer finish on all hardwood floors throughout the house. Freshly remodeled kitchen, paint, and finished basement. Separate HVAC Zone for the Master Bedroom. New window in dining room allows for a wonderful spot for your morning coffee and breakfast. Lot's of work and skilled craftsmanship has gone into this home. Bring your own ideas or just move and enjoy this incredible location with additional parking and beautiful back yard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra View

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360kPrice in $142k376k

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

Neighborhood: Sierra View

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
Hunter Lake Elementary School Primary Regular 360 19 10
Hunter Lake Elementary School Middle Regular 360 19 10
Reno High School High Regular 1,668 71 10

Hunter Lake Elementary School

  • Education Level: Primary
  • # of students: 360
  • # of teachers: 19
10
GreatSchools Rating

Hunter Lake Elementary School

  • Education Level: Middle
  • # of students: 360
  • # of teachers: 19
10
GreatSchools Rating

Reno High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 71
10
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$2,214
Property Tax -$474
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$713

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.

$600,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 10.6%
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$500k$1.0M$1.5M$2.0M

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$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,421

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
  • $2,513

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,500
$2,500
RENT COMPS ANALYSIS
  • 630 Cardinal Way Reno, NV 1
    • 3 beds 3 baths ∙ 2,316 Sqft ∙ Built 1951 3 beds 3 baths ∙ 2,316 Sqft ∙ Built 1951
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 470 Games Reno, NV 2
    • 4 beds 3 baths ∙ 2,117 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,117 Sqft ∙ Built 1960
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 609 Imperial Blvd Reno, NV 3
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 1934 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 1934
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Tim O'brien
Dickson Realty - Downtown
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015433
Last Updated: 11/06/2020
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