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112 Candlelight Street Las Vegas, NV 89145

3 Beds 2 Baths 2,096 sqft Built 1972

$325,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $155.06
  • 4 Days on Market
  • MLS # : 2264749
  • Updated Date : 01/30/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,096 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

Very charming and well maintained home available in northwest Las Vegas. Very quiet, well established neighborhood with no HOA, located near freeways, shopping and restaurants. 3 bedrooms, 2 bathrooms with a sunken formal living area and a spacious separate family room. Beautiful wood floors in all of the right places, Inviting paint tones and large windows for ample natural light throughout. You will love the romantic fireplace, perfect for cool desert nights. Generously sized bedrooms. 2 car garage. Lots of outdoor space for pets, entertaining and more. See it and make it yours.

SEE MORE

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: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
Helen Marie Smith Elementary School Primary Regular 487 30 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Helen Marie Smith Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 30
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,129
Property Tax -$152
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$28

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.

$325,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$17,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,556

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4404$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 112 Candlelight Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1972 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 1972
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.69
    •  
  • 6949 Kim Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1969
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 6716 Cabra Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1968 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1968
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.69
    •  
  • 1016 Rock Springs Drive Las Vegas, NV 4
    • 3 beds 1 baths ∙ 2,188 Sqft ∙ Built 1980 3 beds 1 baths ∙ 2,188 Sqft ∙ Built 1980
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 204 Persimmon Court Las Vegas, NV 5
    • 4 beds 1 baths ∙ 2,103 Sqft ∙ Built 1987 4 beds 1 baths ∙ 2,103 Sqft ∙ Built 1987
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
PROPERTY LISTING DETAILS
Marshall Hillers
1.702.480.4454
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264749
Last Updated: 01/30/2021
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