280 Island Ave APT 1002RenoNV89501
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 280 Island Ave APT 1002, Reno, NV, 89501 in Reno achieves 1.62, rent of $1,603/mo covers the $989/mo payment 1.5x over at $219,900. Rental yield 8.75%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $60,754 over five years, with $2,025/yr in principal reduction bringing total projected return to $104,369.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.8% | 4.8% |
| Monthly Cash Flow | $(343) | $1,850 |
City averages based on Reno market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,603 |
| Total Monthly Debt Service | $1,183 |
| DSCR Ratio | 1.35x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1961
871.20 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 1961
871.20 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices