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885 Akard Dr. Reno, NV 89503

3 Beds 2 Baths 988 sqft Built 1962

$335,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $339.07
  • 3 Days on Market
  • MLS # : 210000199
  • Updated Date : 01/09/2021 at 18:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 988 sqft
  • Baths : 2 full
Listing Agent

Dickson Realty - Damonte Ranch

Listing Agent's Description

Great starter home or investment property opportunity. Recent updates include newer roof, painted interior and exterior and a/c! Do not approach property, tenant occupied. All offers to be reviewed Jan. 10th at 3pm. Make offers subject to viewing after tenant moves out, no later than Jan. 22nd.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Sierra Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $117k347k

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

Neighborhood: Sierra Heights

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900Rent in $10251912

* 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
Warner Elementary School Primary Regular 410 22 6
Warner Elementary School Middle Regular 410 22 6
Mcqueen High School High Regular 1,828 83 10

Warner Elementary School

  • Education Level: Primary
  • # of students: 410
  • # of teachers: 22
6
GreatSchools Rating

Warner Elementary School

  • Education Level: Middle
  • # of students: 410
  • # of teachers: 22
6
GreatSchools Rating

Mcqueen High School

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

$301,500$368,500$335,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,164
Property Tax -$271
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$52

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.

$335,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 14.6%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$15,738

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,550

    LIST RENT
  • $1.57

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,700
$1,700
RENT COMPS ANALYSIS
  • 885 Akard Dr. Reno, NV 1
    • 3 beds 2 baths ∙ 988 Sqft ∙ Built 1962 3 beds 2 baths ∙ 988 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.57
    •  
  • 1442 Surf Way Reno, NV 2
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1965
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.36
    •  
  • 930 Melba Drive Reno, NV 3
    • 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942 3 beds 1 baths ∙ 1,166 Sqft ∙ Built 1942
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.46
    •  
PROPERTY LISTING DETAILS
Joseph Wieczorek
Dickson Realty - Damonte Ranch
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000199
Last Updated: 01/09/2021
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