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955 Tamarack Drive Reno, NV 89509

3 Beds 2 Baths 1,456 sqft Built 1960

$499,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $343.34
  • 5 Days on Market
  • MLS # : 200015174
  • Updated Date : 11/01/2020 at 20:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Dickson Realty - Damonte Ranch

Listing Agent's Description

Southwest Reno Charmer. This meticulously maintained and well kept home sits on a large corner lot in the highly sought after area of Southwest Reno. Offering wood flooring, vinyl siding with enclosed eves, remodeled kitchen and countertops, real wood burning fireplace, new water heater, updated vinyl windows and french doors. Park-like lot with RV parking, mature trees and plenty of privacy. A location that can't be beat, close to downtown, shopping, dining, parks and schools. Come see this one today!

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PRICE & RENT TRENDS

Neighborhood: West Rose Park

NeighborhoodNIR Market*CityMarket2010Year20002019160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $153k439k

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

Neighborhood: West Rose Park

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q212001300140015001600170018001900200021002200Rent in $11802208

* 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
Beck Elementary School Primary Regular 570 27 7
Beck Elementary School Middle Regular 570 27 7
Reno High School High Regular 1,668 71 10

Beck Elementary School

  • Education Level: Primary
  • # of students: 570
  • # of teachers: 27
7
GreatSchools Rating

Beck Elementary School

  • Education Level: Middle
  • # of students: 570
  • # of teachers: 27
7
GreatSchools Rating

Reno High School

  • Education Level: High
  • # of students: 1,668
  • # of teachers: 71
10
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,844
Property Tax -$475
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$687

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.

$499,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.52%
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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$284

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
  • $1,801

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,9953$1,9954$2,200
$2,200
RENT COMPS ANALYSIS
  • 955 Tamarack Drive Reno, NV 1
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 1960
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1785 Shangri-la Reno, NV 2
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1959
    property image
    LEASED 05/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.18
    •  
  • 1690 Wilbur Place Reno, NV 3
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1955
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.26
    •  
  • 1905 California Ave. Reno, NV 4
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1967
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Chris Whitney
Dickson Realty - Damonte Ranch
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200015174
Last Updated: 11/01/2020
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