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9900 Wilbur May Parkway #4502 Reno, NV 89521

3 Beds 3 Baths 2,461 sqft Built 2004

$620,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $251.93
  • 115 Days on Market
  • MLS # : 200014227
  • Updated Date : 01/28/2021 at 19:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,461 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Select Mt Rose

Listing Agent's Description

Welcome to Fleur de Lis. This is an upgraded ground floor Bordeaux floor plan with views of Mt Rose and the Sierra's. Features include 3 bedrooms, 2.5 bathrooms and a two car garage. 3rd bedroom at this time is set up as an office. No expense was spared during the remodel. Everything has been replaced and upgraded in the kitchen with cabinets that feature pull out shelving and under counter lighting. Custom built-ins in the family room and hallway. Upgraded flooring throughout and cedar lined

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Fleur de Lis

NeighborhoodNIR Market*CityMarket2010Year20002019200k250k300k350k400k450kPrice in $153k468k

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

Neighborhood: Fleur de Lis

NeighborhoodNIR Market*CityMarket2015Year2009 Q42019 Q2110012001300140015001600170018001900200021002200Rent in $10292208

* 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
Double Diamond Elementary School Primary Regular 849 40 7
Depoali Middle School Middle Unknown 1,135 53 NA
Damonte Ranch High School High Regular 1,617 70 8

Double Diamond Elementary School

  • Education Level: Primary
  • # of students: 849
  • # of teachers: 40
7
GreatSchools Rating

Depoali Middle School

  • Education Level: Middle
  • # of students: 1,135
  • # of teachers: 53
NA
GreatSchools Rating

Damonte Ranch High School

  • Education Level: High
  • # of students: 1,617
  • # of teachers: 70
8
GreatSchools Rating
 

$558,000$682,000$620,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$2,153
Property Tax -$19
Property Insurance -$79
HOA -$631
Property Management Fees -$119
CASH FLOW
-$792

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.

$620,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.04%
Appreciation Year (1-5) 7.4%
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-$15k-$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$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$260

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,449

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,210
1$2,2102$2,3003$2,5004$2,6955$2,700
$2,700
RENT COMPS ANALYSIS
  • 9900 Wilbur May Parkway #4502 #4502 Reno, NV 1
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.90
    •  
  • 10131 Mesa Cortona Drive Reno, NV 2
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 2015
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
  • 9808 Bridgeview Drive Reno, NV 3
    • 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,608 Sqft ∙ Built 2002
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 2176 Gazala Lane Reno, NV 4
    • 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,687 Sqft ∙ Built 2018
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.00
    •  
  • 9720 Rolling Rocks Reno, NV 5
    • 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,807 Sqft ∙ Built 1998
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
William Hane
Coldwell Banker Select Mt Rose
Trevor Steadman
1.866.250.5610
Mynd Property Management
1453579
Northern Nevada Regional MLS ( NNRMLS)
MLS #: 200014227
Last Updated: 01/28/2021
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