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7436 Comet Court Sparks, NV 89436

4 Beds 3 Baths 2,547 sqft Built 2017

INVESTimate

$570,000

List Price

$2,400

$2,160 - $2,640

Rent Est.

$618,564  ( +8.52%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2017
  • Price/Sqft : $223.79
  • 10 Days on Market
  • MLS # : 200011267
  • Updated Date : 08/25/2020 at 23:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,547 sqft
  • Baths : 3 full
Listing Agent

Re/max Professionals

Listing Agent's Description

Gorgeous Next Gen Home in the heart of Spanish Springs. This fantastic corner lot home boasts 2,547 square feet of pristine living space spread across 1 story. The Next Gen quarters feature a spacious bedroom, full bathroom, kitchenette, private entry and a laundry closet. A gourmet kitchen, plush carpets, high ceilings, ceramic tile floors and a tandem garage are just some of the features in this magnificent home.

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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
 

$513,000$627,000$570,000

PURCHASE PRICE

$2,160$2,640$2,400

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 $2,400
EXPENSES Loan Payment -$2,103
Property Tax -$465
Property Insurance -$81
HOA -$172
Property Management Fees -$119
CASH FLOW
-$540

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.

$570,000

PROJECTED PRICE

$2,400

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$156,800

INVESTMENT

$156,800

Down Payment
$142,500
Rehab Estimate
$5,750
Closing Costs
$8,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $142,500
Loan Amount $427,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,486

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
  • $2,210

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9503$2,1004$2,1005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7436 Comet Court Sparks, 1
    • 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,547 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 6945 Sacred Circle Sparks, 2
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2007
    property image
    LEASED 06/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 7422 Windswept Loop Sparks, 3
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2010
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 7405 Windswept Loop Sparks, 4
    • 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,360 Sqft ∙ Built 2009
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
  • 7070 Verite Drive Sparks, 5
    • 5 beds 3 baths ∙ 2,714 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,714 Sqft ∙ Built 2004
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jesse Morales
Re/max Professionals
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011267
Last Updated: 08/25/2020
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