Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6350 Fairhaven Pl. Reno, NV 89523

4 Beds 3 Baths 2,128 sqft Built 1986

$525,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $246.71
  • 6 Days on Market
  • MLS # : 210001254
  • Updated Date : 02/03/2021 at 18:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,128 sqft
  • Baths : 3 full
Listing Agent

Ferrari-lund R.e. Sparks

Listing Agent's Description

Must see home with fabulous mountain views! This split level home is warm and inviting. Offers 4 bedrooms, 3 full bathrooms, gorgeous newly tiled floors on the main level, and fun updates throughout. The lower bedroom makes an excellent spot for guests, home schooling, or home office. Enjoy a cozy fire and wet bar in the family room, entertain in the large living room with vaulted ceilings, or hang out on your very own private deck and enjoy the magnificent views.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Northgate

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: Northgate

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
Westergard Elementary School Primary Regular 638 31 7
Billinghurst Middle School Middle Regular 931 44 NA
Mcqueen High School High Regular 1,828 83 10

Westergard Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 31
7
GreatSchools Rating

Billinghurst Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 44
NA
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,824
Property Tax -$601
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$406

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.

$525,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
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-$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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,179

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
  • $2,163

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,8253$2,1004$2,200
$2,200
RENT COMPS ANALYSIS
  • 6350 Fairhaven Pl. Reno, NV 1
    • 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,128 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 5247 Simons Drive Reno, NV 2
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 1990
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.95
    •  
  • 6541 Breckenridge Reno, NV 3
    • 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 1545 Grandpoint Way Reno, NV 4
    • 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
    •  
PROPERTY LISTING DETAILS
Michelle Foster
Ferrari-lund R.e. Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001254
Last Updated: 02/03/2021
BESbswy