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6314 Echo Creek Court Reno, NV 89519

3 Beds 3 Baths 1,515 sqft Built 1989

INVESTimate

$510,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$567,171  ( +11.21%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1989
  • Price/Sqft : $336.63
  • 10 Days on Market
  • MLS # : 200011280
  • Updated Date : 08/18/2020 at 17:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,515 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sierra Nevada Properties-mdtwn

Listing Agent's Description

Welcome home to this updated beauty located in the Lakeridge Springs community. This home will surely not disappoint!! Kitchen has brand new Carrara Marble countertops with matching tile backsplash & a white farmhouse sink included. Life-proof vinyl plank hardwood floors in main living areas, & two beds upstairs, new carpet, new light fixtures as well as entire interior of home has been painted. The half bath is tastefully redone with new vanity and sink.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Lakeridge Springs

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450k500kPrice in $153k508k

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

Neighborhood: Lakeridge Springs

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900200021002200Rent in $11802208

* 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
Huffaker Elementary School Primary Regular 481 25 7
Huffaker Elementary School Middle Regular 481 25 7
Reno High School High Regular 1,668 71 10

Huffaker Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 25
7
GreatSchools Rating

Huffaker Elementary School

  • Education Level: Middle
  • # of students: 481
  • # of teachers: 25
7
GreatSchools Rating

Reno High School

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

$459,000$561,000$510,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

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$15k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,882
Property Tax -$193
Property Insurance -$59
HOA -$92
Property Management Fees -$119
CASH FLOW
-$435

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.

$510,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 11.21%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$7,558

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
  • $1,833

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,2003$2,250
$2,250
RENT COMPS ANALYSIS
  • 6314 Echo Creek Court Reno, 1
    • 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,515 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3075 Alpine Creek Reno, 2
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 1995
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.21
    •  
  • 4890 Deer Pass Reno, 3
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2000
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.21
    •  
PROPERTY LISTING DETAILS
Samantha Saquella
Sierra Nevada Properties-mdtwn
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011280
Last Updated: 08/18/2020
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