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984 Locomotive Way Sparks, NV 89434

5 Beds 3 Baths 2,748 sqft Built 1993

$499,000

List Price

$2,740

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $181.59
  • 2 Days on Market
  • MLS # : 210000038
  • Updated Date : 01/03/2021 at 04:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,748 sqft
  • Baths : 3 full
Listing Agent

Rockstar Realty

Listing Agent's Description

This is the largest Bailey McGaw floor plan and is a family favorite. Featuring 5 bedrooms, 3 bathrooms, a 3-car garage and even a large bonus room. Enjoy the open floor plan featuring vaulted ceilings as you enter the front door. Enjoy a walk-in closet, dual sinks, a vanity, and a jetted tub in the large master bedroom Yard is landscaped on auto sprinklers. Cement walkways surround the home. NO HOA's and minutes to schools, shopping, and freeway, you won't find a more perfect home!

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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,841
Property Tax -$692
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$3

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.

$499,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.55%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$31,973

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
  • $3,215

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$3,250
$3,250
RENT COMPS ANALYSIS
  • 984 Locomotive Way Sparks, NV 1
    • 5 beds 3 baths ∙ 2,748 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,748 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 2152 Wabash Sparks, NV 2
    • 5 beds 3 baths ∙ 2,771 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,771 Sqft ∙ Built 1988
    property image
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.17
    •  
PROPERTY LISTING DETAILS
Kevin Sample
Rockstar Realty
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 210000038
Last Updated: 01/03/2021
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