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1227 Stokes Street Las Vegas, NV 89110

3 Beds 1 Baths 1,108 sqft Built 1984

$215,000

List Price

$940

$846 - $1K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $194.04
  • 7 Days on Market
  • MLS # : 2246430
  • Updated Date : 11/09/2020 at 10:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,108 sqft
  • Baths : 1 full
Listing Agent

Offerpad

Listing Agent's Description

Very charming single story home available on a quiet street in east Las Vegas. 3 bedrooms, 2 bathrooms with vaulted ceilings and attractive wood and tile flooring in all of the right places. Spacious living area features a cozy wood-burning fireplace. Kitchen is complete with gas cooking and plenty of cabinet and counter space. All bedrooms have ceiling fans. The master includes a 3/4 ensuite. 1 car garage. Inviting backyard with a covered patio, beautiful mountain views and lovely desert landscaping. All conveniently located near schools, parks, shopping and restaurants. This gem is available at an excellent value and will sell fast. Schedule your showing today. **Home is being sold "As Is".**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Stanford Elementary School Primary Regular 649 39 3
Duane Keller Middle School Middle Regular 1,257 56 NA
Eldorado High School High Regular 1,920 76 1

Stanford Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 39
3
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$846$1,034$940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $940
EXPENSES Loan Payment -$793
Property Tax -$109
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$129

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.

$215,000

PROJECTED PRICE

$940

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$5,674

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $940

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,039

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$940
1$9402$9503$1,2504$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 1227 Stokes Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,108 Sqft ∙ Built 1984 3 beds 1 baths ∙ 1,108 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $940
    • $0.85
    •  
  • 930 Sloan Lane #104 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,068 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,068 Sqft ∙ Built 1990
    property image
    LEASED 06/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.89
    •  
  • 6023 Notre Dame Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1999
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 1427 Unionville Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,322 Sqft ∙ Built 1986
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.98
    •  
  • 5925 Hudson Woods Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,310 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,310 Sqft ∙ Built 2004
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.99
    •  
PROPERTY LISTING DETAILS
Heather L Ferris
1.702.326.1352
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246430
Last Updated: 11/09/2020
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