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1051 Sweeney Avenue Las Vegas, NV 89104

3 Beds 2 Baths 1,524 sqft Built 1944

$349,998

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1944
  • Price/Sqft : $229.66
  • 10 Days on Market
  • MLS # : 2269857
  • Updated Date : 02/20/2021 at 23:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,524 sqft
  • Baths : 2 full
Listing Agent

Precision Realty

Listing Agent's Description

AMAZING Downtown Las Vegas Location! Minutes from the Famous Las Vegas Strip AND Downtown Las Vegas! Home has mid century modern finishes throughout. Completely redone with Oversized gazebo in back yard, tile throughout NO carpet! Custom tiled backsplash in kitchen, upgraded ss appliances, New quartz counters, New White shaker cabinets, breakfast bar seating and upgraded sink/faucet. Absolutely stunning, modern bathrooms with top of the line upgraded vanities, custom tiled showers and flooring, showers have upgraded shower heads, and built in shelving niches! Cozy backyard with huge covered gazebo, tiled patio, and lots of privacy! Gorgeous wooden trusses accent the living area with upgraded lighting fixtures and plank tile flooring. Don't miss out on this amazing home!

SEE MORE

MARKET HIGHLIGHTS

  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: West Huntridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $71k296k

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

Neighborhood: West Huntridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
John S. Park Elementary School Primary Regular 852 46 3
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

John S. Park Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 46
3
GreatSchools Rating

John C. Fremont Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 41
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$314,998$384,998$349,998

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,216
Property Tax -$90
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$142

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$349,998

PROJECTED PRICE

$1,340

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,499

INVESTMENT

$98,499

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,133

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,334

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3404$1,3855$1,600
$1,600
RENT COMPS ANALYSIS
  • 1051 Sweeney Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1944
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.88
    •  
  • 1626 Lewis Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1942
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 2001 Santa Rita Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 1953 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 1953
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 2213 Beverly Way Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1957
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.87
    •  
  • 1501 South 11th Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1944
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269857
Last Updated: 02/20/2021
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