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7490 Riverstone Court Reno, NV 89506

3 Beds 3 Baths 1,580 sqft Built 2003

$365,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $231.01
  • 3 Days on Market
  • MLS # : 210001414
  • Updated Date : 02/06/2021 at 19:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,580 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ferrari-lund Real Estate Reno

Listing Agent's Description

This two story, three bedroom remodeled home has no HOA, it's in a cul-de-sac, corner lot, close to freeways and main stores. Baseboards, downstairs flooring, toilets, lighting inside and out, stove, microwave and much more was replaced. Assessment for city to maintain public walk ways is $25 every three months. Seller might need short term rent back.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Silver Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k347k

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

Neighborhood: Silver Shores

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q21000110012001300140015001600170018001900Rent in $9911912

* 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
Silver Lake Elementary School Primary Regular 630 32 5
North Valleys High School High Regular 2,061 96 3
Silver Lake Elementary School Primary Unknown NA

Silver Lake Elementary School

  • Education Level: Primary
  • # of students: 630
  • # of teachers: 32
5
GreatSchools Rating

North Valleys High School

  • Education Level: High
  • # of students: 2,061
  • # of teachers: 96
3
GreatSchools Rating

Silver Lake Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,268
Property Tax -$588
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$395

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.

$365,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$527

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
  • $1,691

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,795
$1,795
RENT COMPS ANALYSIS
  • 7490 Riverstone Court Reno, NV 1
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 8960 Red Baron Blvd Reno, NV 2
    • 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,528 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 9225 Moonset Court Reno, NV 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2004
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.09
    •  
PROPERTY LISTING DETAILS
Angeles Wanco
Ferrari-lund Real Estate Reno
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210001414
Last Updated: 02/06/2021
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