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6716 Fabric Drive Sparks, NV 89436

3 Beds 3 Baths 2,133 sqft Built 2014

INVESTimate

$499,895

List Price

$2,110

$1,899 - $2,321

Rent Est.

$542,486  ( +8.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $234.36
  • 8 Days on Market
  • MLS # : 200011418
  • Updated Date : 08/22/2020 at 02:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,133 sqft
  • Baths : 3 full
Listing Agent

Homegate Realty Of Nevada

Listing Agent's Description

Beautiful single story home located in the Foothills of Wingfield Springs! This wonderful home has engineered bamboo wood flooring and new paint throughout; and new upgraded carpet and memory foam pad in the master bedroom retreat. This home has an open floor plan with a separate bedroom and bathroom on the opposite end of the living space. The professionally landscaped private backyard is of minimal maintenance, complete with a flagstone paver patio. This home is perfect for all your entertaining needs!

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PRICE & RENT TRENDS

Neighborhood: The Foothills at Wingfield Springs

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $146k439k

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

Neighborhood: The Foothills at Wingfield Springs

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900200021002200Rent in $9822208

* 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
Spanish Springs Elementary School Primary Regular 713 32 7
Spanish Springs Elementary School Middle Regular 713 32 7
Spanish Springs High School High Regular 2,315 95 6

Spanish Springs Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 32
7
GreatSchools Rating

Spanish Springs Elementary School

  • Education Level: Middle
  • # of students: 713
  • # of teachers: 32
7
GreatSchools Rating

Spanish Springs High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 95
6
GreatSchools Rating
 

$449,906$549,885$499,895

PURCHASE PRICE

$1,899$2,321$2,110

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,844
Property Tax -$413
Property Insurance -$72
HOA -$172
Property Management Fees -$119
CASH FLOW
-$511

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.

$499,895

PROJECTED PRICE

$2,110

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 8.52%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,222

INVESTMENT

$138,222

Down Payment
$124,974
Rehab Estimate
$5,750
Closing Costs
$7,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,974
Loan Amount $374,921
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,840

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
  • $2,117

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$2,1004$2,1955$2,300
$2,300
RENT COMPS ANALYSIS
  • 6716 Fabric Drive Sparks, 1
    • 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,133 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7300 S Florentine Drive Sparks, 2
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1997
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
  • 6730 Cinnamon Sparks, 3
    • 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1997
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
  • 4303 Globe Court Sparks, 4
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 2006
    property image
    LEASED 06/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.92
    •  
  • 7391 Windswept Loop Sparks, 5
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2009
    property image
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Cortney Wise
Homegate Realty Of Nevada
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011418
Last Updated: 08/22/2020
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