280 Island Ave APT 1001RenoNV89501
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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 280 Island Ave APT 1001, Reno, NV, 89501 offers a 10.65% rental yield on a $178,000 purchase with $1,580/mo rent. Total monthly income registers $1,580/mo, and a $871/mo payment leaves $215/mo available for distribution. Annual cash flow reaches $2,577/yr on $59,007 to close, and return on cash invested stands at 24.28% in year one. Equity gained on principal adds $1,149/yr while 5% annual appreciation supports $49,178 over five years. Portfolio math shows five-year ROI at 128.22% and total cumulative return in cash at $75,661. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,580/mo property income against a $871/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1961
435.60 sqft lot
$N/A/sqft
$337 monthly 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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Listed by: Gina Thompsen • Chase International-Damonte
Mls Name: NNRMLS
Mls Provider:
Mls ID: #250052400
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