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7975 Key Largo Reno, NV 89506

3 Beds 3 Baths 1,580 sqft Built 2004

$345,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $218.35
  • 3 Days on Market
  • MLS # : 200016699
  • Updated Date : 12/11/2020 at 22:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,580 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Professionals

Listing Agent's Description

Great two story home in Stead. Spacious 3 bedroom, 2 1/2 bath 2 car garage with additional RV Parking. The open kitchen features a gas range, pantry and dining area with access to the backyard. Upstairs you'll find 3 bedrooms, 2 full bathrooms and the laundry room. Enjoy mountain views and beautiful sunsets from your backyard.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Turtle Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $103k347k

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

Neighborhood: Turtle Creek

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900Rent in $10101912

* 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
Cold Springs Middle Schools Middle Regular 717 28 NA
North Valleys High School High Regular 2,061 96 3

Silver Lake Elementary School

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

Cold Springs Middle Schools

  • Education Level: Middle
  • # of students: 717
  • # of teachers: 28
NA
GreatSchools Rating

North Valleys High School

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

$310,500$379,500$345,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,273
Property Tax -$585
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$338

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.

$345,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 13.0%
Maintenance Year (1-5) 8.00%
Vacancy 4.04%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,589

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$1,7954$1,850
$1,850
RENT COMPS ANALYSIS
  • 7975 Key Largo Reno, NV 1
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2004
    • 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
    •  
  • 7475 Hinton Drive Reno, NV 4
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2003
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Michael Wood
Re/max Professionals
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016699
Last Updated: 12/11/2020
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