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735 Canal St Reno, NV 89503

3 Beds 2 Baths 1,026 sqft Built 1951

$359,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1951
  • Price/Sqft : $349.90
  • 7 Days on Market
  • MLS # : 200015896
  • Updated Date : 11/21/2020 at 06:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,026 sqft
  • Baths : 2 full
Listing Agent

Alder Properties

Listing Agent's Description

Adorable three bedroom, two bath home with hardwood floors and tile counters in the light and bright kitchen complete with refrigerator and range/oven. One can't forget about the washer and dryer that come with this unique property. Outside you'll find a sizable backyard ready for your imagination.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sunnyside

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $121k347k

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

Neighborhood: Sunnyside

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900Rent in $10201912

* 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
Elmcrest Elementary School Primary Regular 357 23 4
Elmcrest Elementary School Middle Regular 357 23 4
Reno High School High Regular 1,668 71 10

Elmcrest Elementary School

  • Education Level: Primary
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Elmcrest Elementary School

  • Education Level: Middle
  • # of students: 357
  • # of teachers: 23
4
GreatSchools Rating

Reno High School

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

$323,100$394,900$359,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,325
Property Tax -$307
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$239

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.

$359,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 13.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,325

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,578

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
  • $1,518

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7003$1,800
$1,800
RENT COMPS ANALYSIS
  • 735 Canal St Reno, NV 1
    • 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1951 3 beds 2 baths ∙ 1,026 Sqft ∙ Built 1951
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 930 Melba Drive Reno, NV 2
    • 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.46
    •  
  • 1980 Simpson Ave Reno, NV 3
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1953
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.50
    •  
PROPERTY LISTING DETAILS
Linda Church
Alder Properties
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015896
Last Updated: 11/21/2020
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