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1108 Date Street Las Vegas, NV 89108

4 Beds 2 Baths 1,079 sqft Built 1954

$254,888

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1954
  • Price/Sqft : $236.23
  • 4 Days on Market
  • MLS # : 2258534
  • Updated Date : 01/01/2021 at 20:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,079 sqft
  • Baths : 1 full , 1 half
Listing Agent

Paradigm Realty

Listing Agent's Description

Amazing and Proven Income Property or Sensational Home with a fully established guest Room. No HOA. New AC, new water heater, new roof. The lot is over 7800 square feet with RV Access from the side to backyard with newer pavers and concrete, beautiful landscaping in the corner lot, fruit trees in the back, stuccoed fencing entirely from the side yards to the backyard, and plenty of parking in the front with newer pavers. The main home has 3 bedrooms and 3 bathrooms and houses a wonderful tenant; the tenant occupied, warm, spacious studio with a private entrance has the meticulous 4th bedroom, 4th bathroom, and kitchen and livingspace - A combined proven rental income of $1850. Both kitchens have marble countertops and custom cabinets great for home cooking. The house boasts a newer tile flooring throughout and a spacious living room is a newer remodel with an open floor concept view to the dining and kitchen area. A Great Return on Investment, A fabulous warm home, A definite must see.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

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
Twin Lakes Elementary School Primary Regular 667 31 4
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

Twin Lakes Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 31
4
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$229,399$280,377$254,888

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$940
Property Tax -$98
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$74

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.

$254,888

PROJECTED PRICE

$1,280

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,295

INVESTMENT

$73,295

Down Payment
$63,722
Rehab Estimate
$5,750
Closing Costs
$3,823

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,722
Loan Amount $191,166
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$26,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,001

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$975
1$9752$1,1953$1,1954$1,2805$1,345
$1,345
RENT COMPS ANALYSIS
  • 1108 Date Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,079 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,079 Sqft ∙ Built 1954
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.19
    •  
  • 505 Yale Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,034 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,034 Sqft ∙ Built 1955
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.94
    •  
  • 1612 Ludwig Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1963
    property image
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 1904 West Mesquite Avenue #n/a Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,270 Sqft ∙ Built 1965
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.94
    •  
  • 1012 White Pine Way Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,415 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,415 Sqft ∙ Built 1960
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.95
    •  
PROPERTY LISTING DETAILS
Eric Relph
1.702.286.1703
Paradigm Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258534
Last Updated: 01/01/2021
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