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PROPERTY INFO
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.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Twin Lakes
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,295
LOAN DETAILS
$940
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $63,722 |
| Loan Amount | $191,166 |
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
-
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
1.702.286.1703
Paradigm Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2258534
Last Updated: 01/01/2021
