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718 Palmwood Dr Sparks, NV 89434

3 Beds 2 Baths 1,494 sqft Built 2003

$354,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $236.95
  • 4 Days on Market
  • MLS # : 200015808
  • Updated Date : 11/14/2020 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 2 full
Listing Agent

Ferrari-lund Real Estate Reno

Listing Agent's Description

Great 3 bedroom 2 bath home conveniently located in Sparks. Home has new carpet and a great layout. A quick close is possible. Easy to show!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wesley Estates

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $146k439k

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

Neighborhood: Wesley Estates

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900200021002200Rent in $9482208

* 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
Juniper Elementary School Primary Regular 464 25 5
Juniper Elementary School Middle Regular 464 25 5
Reed High School High Regular 1,992 65 6

Juniper Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 25
5
GreatSchools Rating

Juniper Elementary School

  • Education Level: Middle
  • # of students: 464
  • # of teachers: 25
5
GreatSchools Rating

Reed High School

  • Education Level: High
  • # of students: 1,992
  • # of teachers: 65
6
GreatSchools Rating
 

$318,600$389,400$354,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,306
Property Tax -$594
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$388

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.

$354,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 12.3%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,560

INVESTMENT

$99,560

Down Payment
$88,500
Rehab Estimate
$5,750
Closing Costs
$5,310

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,306

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,500
Loan Amount $265,500
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,087

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
  • $1,692

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6953$1,8504$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 718 Palmwood Dr Sparks, NV 1
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 991 Ephedra Lane Sparks, NV 2
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2002
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.13
    •  
  • 2299 Signa Drive Sparks, NV 3
    • 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,630 Sqft ∙ Built 2001
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 1938 Alpland Ct Sparks, NV 4
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 495 Merganser Lane Sparks, NV 5
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 2014
    LEASED 06/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.14
    •  
PROPERTY LISTING DETAILS
Kimberly Mock
Ferrari-lund Real Estate Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015808
Last Updated: 11/14/2020
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