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1202 Riverside Drive Las Vegas, NV 89106

5 Beds 1 Baths 1,570 sqft Built 1955

$250,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1955
  • Price/Sqft : $159.24
  • 2 Days on Market
  • MLS # : 2246561
  • Updated Date : 11/07/2020 at 12:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,570 sqft
  • Baths : 1 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great 5 bedroom, 3 bath home with guest quarters!! Oversized lot!! New paint, new windows, ceramic tile flooring, new carpet, fresh paint. Guest quarter with a separate entrance has bath with shower, ceiling fan. Huge backyard with covered patio.

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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: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

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

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8971603

* 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
Ollie Detwiler Elementary School Primary Regular 733 41 1
West Preparatory Instititute School For Academic Excellence Middle Regular 1,353 64 7
West Preparatory Instititute School For Academic Excellence High Regular 1,353 64 7

Ollie Detwiler Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 41
1
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$922
Property Tax -$96
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$195

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.

$250,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.56%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$39,567

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,350

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2503$1,3904$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 1202 Riverside Drive Las Vegas, NV 3
    • 5 beds 1 baths ∙ 1,570 Sqft ∙ Built 1955 5 beds 1 baths ∙ 1,570 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.89
    •  
  • 2109 Hassell North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,251 Sqft ∙ Built 1963
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
  • 1119 Ramona Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1955 4 beds 2 baths ∙ 1,430 Sqft ∙ Built 1955
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.87
    •  
  • 4408 Thompson Circle Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,612 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,612 Sqft ∙ Built 1963
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 3705 Bonanza Road Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
Karen H James
1.702.326.3824
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246561
Last Updated: 11/07/2020
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