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8171 Sierra Ridge Ct. Reno, NV 89523

3 Beds 3 Baths 2,093 sqft Built 2003

INVESTimate

$575,000

List Price

$2,210

$1,989 - $2,431

Rent Est.

$625,140  ( +8.72%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $274.73
  • 17 Days on Market
  • MLS # : 200011397
  • Updated Date : 08/25/2020 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,093 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful home in Somersett set on a premium lot overlooking the Signature 5th fairway of Somersett Golf Course. This beautifully maintained home features updated kitchen with quartz slab counters and stainless appliances. Gorgeous hardwood floors with new ceramic tile floors in bathrooms and laundry. Brand new furnace and AC, new fireplace mantle, and new window coverings throughout.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Somersett

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420k440k460kPrice in $153k465k

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

Neighborhood: Somersett

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001400160018002000220024002600Rent in $11802679

* 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
Westergard Elementary School Primary Regular 638 31 7
Billinghurst Middle School Middle Regular 931 44 NA
Mcqueen High School High Regular 1,828 83 10

Westergard Elementary School

  • Education Level: Primary
  • # of students: 638
  • # of teachers: 31
7
GreatSchools Rating

Billinghurst Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 44
NA
GreatSchools Rating

Mcqueen High School

  • Education Level: High
  • # of students: 1,828
  • # of teachers: 83
10
GreatSchools Rating
 

$517,500$632,500$575,000

PURCHASE PRICE

$1,989$2,431$2,210

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,122
Property Tax -$382
Property Insurance -$72
HOA -$194
Property Management Fees -$119
CASH FLOW
-$678

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.

$575,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 8.72%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,521

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
  • $2,442

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$2,0003$2,1004$2,300
$2,300
RENT COMPS ANALYSIS
  • 8171 Sierra Ridge Ct. Reno, 1
    • 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,093 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2177 Tara Ridge Trail Reno, 2
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2007
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.12
    •  
  • 6541 Breckenridge Reno, 3
    • 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.14
    •  
  • 1609 Clover Hill Trail Reno, 4
    • 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,851 Sqft ∙ Built 2005
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.24
    •  
PROPERTY LISTING DETAILS
Jason Kirby
Berkshire Hathaway Homeservice
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200011397
Last Updated: 08/25/2020
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