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744 Glen Meadow Drive Sparks, NV 89434

4 Beds 2 Baths 1,403 sqft Built 1973

INVESTimate

$325,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$362,960  ( +11.68%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $231.65
  • 7 Days on Market
  • MLS # : 200011499
  • Updated Date : 08/23/2020 at 01:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,403 sqft
  • Baths : 2 full
Listing Agent

Homegate Realty Of Nevada

Listing Agent's Description

Partial remodel started in this great 3 bedroom, 2 bath home in East Sparks. Newer laminate flooring throughout. Popcorn has been removed from ceilings, so ready for your personal touch. New xero-scaping in the front yard. Great patio in backyard for those Summertime BBQ's. Storage Shed and mature fruit trees in the backyard. All appliances included. Bring your offer today.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k344k

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

Neighborhood: Sierra Meadows

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9501873

* 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
Dunn Elementary School Primary Regular 533 31 6
Dunn Elementary School Middle Regular 533 31 6
Reed High School High Regular 1,992 65 6

Dunn Elementary School

  • Education Level: Primary
  • # of students: 533
  • # of teachers: 31
6
GreatSchools Rating

Dunn Elementary School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 31
6
GreatSchools Rating

Reed High School

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

$292,500$357,500$325,000

PURCHASE PRICE

$1,485$1,815$1,650

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,199
Property Tax -$128
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$147

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.

$325,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 11.68%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$42,083

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
  • $1,473

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6503$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 744 Glen Meadow Drive Sparks, 1
    • 4 beds 2 baths ∙ 1,403 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,403 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1849 Deep Creek Sparks, 2
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1981
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 3271 Shari Way Sparks, 3
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1977
    LEASED 03/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 936 Glen Molly Sparks, 4
    • 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,632 Sqft ∙ Built 1973
    LEASED 03/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
  • 3340 Wilma Drive Sparks, 5
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1977
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sara Sharkey
Homegate Realty Of Nevada
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011499
Last Updated: 08/23/2020
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