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742 W Plumb Lane Reno, NV 89509

4 Beds 3 Baths 2,172 sqft Built 1942

INVESTimate

$519,900

List Price

$2,080

$1,872 - $2,288

Rent Est.

$575,009  ( +10.60%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1942
  • Price/Sqft : $239.36
  • 6 Days on Market
  • MLS # : 200011537
  • Updated Date : 08/26/2020 at 06:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,172 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ferrari-lund Real Estate South

Listing Agent's Description

2 Homes- One to live in one to rent out. Great location with lots of charm. Main home is 1692 s.f, 3 bed,1.5 bath. Guest home 480 s.f, with 2 rooms upper floor with separate entrance and main level with one bed, bath, living room, kitchen & stackable washer & dryer. Main home has original hardwood flooring, newer roof and most windows replaced. All appliances stay in both homes. Both are separately metered. Seller offering $3000 allowance for either repairs or refurbishing of the wood floors. Homes are

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PRICE & RENT TRENDS

Neighborhood: Atterbury

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $151k439k

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

Neighborhood: Atterbury

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
Beck Elementary School Primary Regular 570 27 7
Beck Elementary School Middle Regular 570 27 7
Reno High School High Regular 1,668 71 10

Beck Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 27
7
GreatSchools Rating

Beck Elementary School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
7
GreatSchools Rating

Reno High School

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

$467,910$571,890$519,900

PURCHASE PRICE

$1,872$2,288$2,080

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,918
Property Tax -$515
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$545

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.

$519,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 10.60%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$143,524

INVESTMENT

$143,524

Down Payment
$129,975
Rehab Estimate
$5,750
Closing Costs
$7,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,918

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $129,975
Loan Amount $389,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,914

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
  • $2,324

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,1003$2,400
$2,400
RENT COMPS ANALYSIS
  • 742 W Plumb Lane Reno, 1
    • 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 1942 4 beds 3 baths ∙ 2,172 Sqft ∙ Built 1942
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 470 Games Reno, 2
    • 4 beds 3 baths ∙ 2,117 Sqft ∙ Built 1960 4 beds 3 baths ∙ 2,117 Sqft ∙ Built 1960
    property image
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 2066 Plumas Street Reno, 3
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1941 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 1941
    property image
    LEASED 10/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.15
    •  
PROPERTY LISTING DETAILS
Theresa Wolken
Ferrari-lund Real Estate South
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011537
Last Updated: 08/26/2020
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