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7550 S Florentine Drive Sparks, NV 89436

3 Beds 3 Baths 1,689 sqft Built 1999

$414,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $245.65
  • 2 Days on Market
  • MLS # : 210000873
  • Updated Date : 01/23/2021 at 20:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,689 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ferrari-lund R.e. Sparks

Listing Agent's Description

Pride of ownership shows and it is clean as can be! Comfortable living room with laminate flooring, gas log fireplace, high ceiling, and natural light galore. Spacious kitchen with bar/island and nook, all recently painted. Upstairs you will find an extra large master with sitting room and balcony to enjoy your morning coffee, dual sinks plus a walk-in closet. Outside boasts with a covered patio, fully landscaped and best of all no rear neighbors.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Wingfield Springs

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $146k439k

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

Neighborhood: 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
Van Gorder Elementary School Primary Regular 789 37 10
Van Gorder Elementary School Middle Regular 789 37 10
Spanish Springs High School High Regular 2,315 95 6

Van Gorder Elementary School

  • Education Level: Primary
  • # of students: 789
  • # of teachers: 37
10
GreatSchools Rating

Van Gorder Elementary School

  • Education Level: Middle
  • # of students: 789
  • # of teachers: 37
10
GreatSchools Rating

Spanish Springs High School

  • Education Level: High
  • # of students: 2,315
  • # of teachers: 95
6
GreatSchools Rating
 

$373,410$456,390$414,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$1,441
Property Tax -$648
Property Insurance -$63
HOA -$65
Property Management Fees -$119
CASH FLOW
-$516

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.

$414,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$115,699

INVESTMENT

$115,699

Down Payment
$103,725
Rehab Estimate
$5,750
Closing Costs
$6,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,725
Loan Amount $311,175
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$140

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
  • $1,702

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,8954$1,9455$1,995
$1,995
RENT COMPS ANALYSIS
  • 7550 S Florentine Drive Sparks, NV 1
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7300 S Florentine Drive Sparks, NV 2
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1997
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
  • 7490 Ambush Cir Sparks, NV 3
    • 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,914 Sqft ∙ Built 1998
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 7426 Minkler Court Sparks, NV 4
    • 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,971 Sqft ∙ Built 2005
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.99
    •  
  • 2688 Arrow Smith Dr. Sparks, NV 5
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 1999
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
PROPERTY LISTING DETAILS
Amber Cerfoglio
Ferrari-lund R.e. Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000873
Last Updated: 01/23/2021
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