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988 Pinewood Drive Sparks, NV 89434

4 Beds 3 Baths 2,148 sqft Built 1974

$415,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $193.20
  • 3 Days on Market
  • MLS # : 200016948
  • Updated Date : 12/18/2020 at 20:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,148 sqft
  • Baths : 3 full
Listing Agent

Nevada Home Connections

Listing Agent's Description

Welcome home to East Sparks! A lovely, well maintained 4 bedroom, 3 bath home in a quiet, well established neighborhood. Many upgrades throughout including hardwood floors, windows & more! Downstairs, you will find the family room, 1 bedroom and 1 bath. There are 3 additional bedrooms & 2 bathrooms upstairs. Backyard has deck, wooden patio cover, trees, garden and large RV parking for all the toys. Close to restaurants, shopping, schools & parks. So much pride in ownership in this beautiful home!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Shadow Glen Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $102k344k

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

Neighborhood: Shadow Glen Estates

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2100011001200130014001500160017001800Rent in $9471873

* 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
Juniper Elementary School Primary Regular 464 25 5
Juniper Elementary School Middle Regular 464 25 5
Reed High School High Regular 1,992 65 6

Juniper Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 25
5
GreatSchools Rating

Juniper Elementary School

  • Education Level: Middle
  • # of students: 464
  • # of teachers: 25
5
GreatSchools Rating

Reed High School

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

$373,500$456,500$415,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,531
Property Tax -$411
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$4

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.

$415,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.73%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 4.08%
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$0.0$5.0k$10k$15k$20k

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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$28,547

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
  • $2,112

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,8954$2,000
$2,000
RENT COMPS ANALYSIS
  • 988 Pinewood Drive Sparks, NV 1
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 3081 S Cottage Sparks, NV 2
    • 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 1991
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
  • 981 Glen Martin Sparks, NV 3
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1973
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
  • 1071 Glen Meadow Dr. Sparks, NV 4
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1975
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Tiffany Ross
Nevada Home Connections
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200016948
Last Updated: 12/18/2020
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