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1124 Concertino Avenue Las Vegas, NV 89123

3 Beds 2 Baths 1,582 sqft Built 1992

INVESTimate

$310,000

List Price

$1,490

$1,341 - $1,639

Rent Est.

$339,047  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $195.95
  • 9 Days on Market
  • MLS # : 2223216
  • Updated Date : 08/19/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,582 sqft
  • Baths : 2 full
Listing Agent

Golden West Management Inc

Listing Agent's Description

Stunning single story home with a three car garage. The open layout features a formal dining room and living room surrounding the kitchen which features tile countertops, plenty of cabinet space and a breakfast bar. The master bedroom is carpeted and quite spacious while the walk-in bathroom features his and her sinks with tile countertops, a separate shower and tub plus a large walk-in closet. The enormous backyard features a large covered patio and plenty of space for entertaining.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,144
Property Tax -$177
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$8

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$24,119

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4903$1,5004$1,6375$1,650
$1,650
RENT COMPS ANALYSIS
  • 1124 Concertino Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.94
    •  
  • 1181 Concertino Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1992
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.93
    •  
  • 1065 Wainwright Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1990
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 7988 Counterpoint Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 1990
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,637
    • $0.94
    •  
  • 8132 Vision Street #n/a Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,639 Sqft ∙ Built 1990
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
PROPERTY LISTING DETAILS
Veronica Gomez
1.702.934.1316
Golden West Management Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223216
Last Updated: 08/19/2020
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