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8120 Monterey Shores Dr Reno, NV 89506

3 Beds 2 Baths 1,822 sqft Built 1999

$395,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $216.79
  • 2 Days on Market
  • MLS # : 210003201
  • Updated Date : 03/13/2021 at 16:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,822 sqft
  • Baths : 2 full
Listing Agent

Dickson Realty - Sparks

Listing Agent's Description

Great single story home with 3 bedrooms plus an office/den, 2 baths, and a 3 car garage. Open floor plan with 2 living areas. Home is move in ready with newly painted kitchen cabinets & tile backsplash and newer dishwasher. Freshly cleaned carpet in the bedrooms and laminate in the high traffic areas. The refrigerator in the kitchen, washer and dryer are included in the sale as is with no warranty. There are ceiling fans in all the bedrooms & storage space in the attic with ample lighting & power outlets.

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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,372
Property Tax -$611
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$318

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.

$395,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.47%

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$8.0k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,568

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
  • $1,950

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$1,795
$1,795
RENT COMPS ANALYSIS
  • 8120 Monterey Shores Dr Reno, NV 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1999
    • 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
Jo Ann Burke
Dickson Realty - Sparks
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210003201
Last Updated: 03/13/2021
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