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947 Julia Lane Fernley, NV 89408

3 Beds 2 Baths 1,997 sqft Built 2004

$385,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $192.79
  • 19 Days on Market
  • MLS # : 200014862
  • Updated Date : 11/04/2020 at 21:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,997 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Eminence

Listing Agent's Description

Welcome home to Desert Lakes Golf Community! 3 Bedroom,2 baths, with an over-sized 3 car finished garage with a sealed floor. The Master Bath features a jetted tub & walk-in shower and double sinks. The laundry room has cabinets and a utility sink. Kitchen with Corian countertops, pantry, and breakfast bar.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 89408

ZipNIR Market*CityMarket2010Year20022019100k120k140k160k180k200k220k240kPrice in $91k245k

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

Zip Code: 89408

No Data Available.

* 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
East Valley Elementary School Primary Regular 436 13 8
Fernley Intermediate School Middle Regular 535 10 NA
Fernley High School High Regular 951 21 6

East Valley Elementary School

  • Education Level: Primary
  • # of students: 436
  • # of teachers: 13
8
GreatSchools Rating

Fernley Intermediate School

  • Education Level: Middle
  • # of students: 535
  • # of teachers: 10
NA
GreatSchools Rating

Fernley High School

  • Education Level: High
  • # of students: 951
  • # of teachers: 21
6
GreatSchools Rating
 

$346,500$423,500$385,000

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 -$1,420
Property Tax -$272
Property Insurance -$68
HOA -$100
Property Management Fees -$119
CASH FLOW
-$280

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$385,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,700
$1,700
RENT COMPS ANALYSIS
  • 947 Julia Lane Fernley, NV 3
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 332 Bens Way Fernley, NV 1
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2005
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 219 Mary Lou Lane Fernley, NV 2
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1996
    LEASED 05/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Deborah Logan
Realty One Group Eminence
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200014862
Last Updated: 11/04/2020
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