255 N Sierra St UNIT 307RenoNV89501
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Reno at 255 N Sierra St UNIT 307, Reno, NV, 89501 uses $157,463 cash to close to unlock $2,513/yr annual cash flow and $209/mo monthly cash flow. Total monthly income runs $2,954/mo, and a $2,325/mo payment keeps the spread at $209/mo. Purchase price stands at $475,000, and rental yield measures 7.46% with $2,954/mo rent. Return on cash invested shows 21.5% in year one, and 5% annual appreciation builds toward $131,234 over five years. Five-year ROI reaches 110.86% and total cumulative return in cash records $174,571. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,954/mo property income covering a $2,325/mo payment rather than investor’s personal income.
Condo
Built in 1978
1,306 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 89501, Reno, NV area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,589 (100%) |
| Owner Occupied HU | 618 (17.2%) |
| Renter Occupied HU | 2,200 (61.3%) |
| Vacant Housing Units | 771 (21.5%) |
| Median Home Value | $620,040 |
| Average Home Value | $674,548 |
Housing Distribution
Address Breakdown
Residential
2,166
Single Family
726
Multi-Family
1,440
Businesses
639
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