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955 Lillard Drive Sparks, NV 89434

3 Beds 2 Baths 1,648 sqft Built 1991

$400,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $242.72
  • 3 Days on Market
  • MLS # : 210000240
  • Updated Date : 01/09/2021 at 01:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Group One Inc.

Listing Agent's Description

LOCATION, LOCATION, LOCATION! This amazing home has just been remodeled and the exterior and interior of the home have been freshly painted. As you enter the home you are greeted by open living room where you and your guests can gather and be warmed by the fire place during these colder winter months. The kitchen features newly installed stainless steel appliances including a microwave, dishwasher, and gas-range oven. There is also a stainless steel kitchen sink and new faucet.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Willow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340kPrice in $142k344k

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

Neighborhood: Willow Creek

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9511873

* 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
Diedrichsen Elementary School Primary Regular 412 21 7
Diedrichsen Elementary School Middle Regular 412 21 7
Reed High School High Regular 1,992 65 6

Diedrichsen Elementary School

  • Education Level: Primary
  • # of students: 412
  • # of teachers: 21
7
GreatSchools Rating

Diedrichsen Elementary School

  • Education Level: Middle
  • # of students: 412
  • # of teachers: 21
7
GreatSchools Rating

Reed High School

  • Education Level: High
  • # of students: 1,992
  • # of teachers: 65
6
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,389
Property Tax -$520
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$321

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.

$400,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.70%
Appreciation Year (1-5) 14.4%
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$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$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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,998

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
  • $1,809

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5753$1,8504$1,8955$2,100
$2,100
RENT COMPS ANALYSIS
  • 955 Lillard Drive Sparks, NV 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2613 Drexel Sparks, NV 2
    • 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,378 Sqft ∙ Built 1980
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.14
    •  
  • 1938 Alpland Ct Sparks, NV 3
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1985
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.13
    •  
  • 981 Glen Martin Sparks, NV 4
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1973
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 2385 Primio Way Sparks, NV 5
    • 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 1995
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.08
    •  
PROPERTY LISTING DETAILS
Brandon Goles
Keller Williams Group One Inc.
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000240
Last Updated: 01/09/2021
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