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1232 Smoke Tree Avenue Las Vegas, NV 89108

3 Beds 2 Baths 1,343 sqft Built 1955

$199,900

List Price

$1,160

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $148.85
  • 9 Days on Market
  • MLS # : 2251103
  • Updated Date : 12/03/2020 at 11:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,343 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Cozy single story home with 3 bedrooms and 2 full baths with no HOA! Home is powered by solar panels that is about 2 years old. This centrally located home features new paint, new laminate flooring. New roof and and fairly new AC as well. Large corner lot with a huge backyard and good size shed. All appliances are included!

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: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
Twin Lakes Elementary School Primary Regular 667 31 4
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

Twin Lakes Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 31
4
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$738
Property Tax -$97
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$154

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.

$199,900

PROJECTED PRICE

$1,160

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$30,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,185

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,1953$1,2504$1,3005$1,475
$1,475
RENT COMPS ANALYSIS
  • 1232 Smoke Tree Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1955 3 beds 2 baths ∙ 1,343 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $0.86
    •  
  • 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
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 1119 Ramona Circle Las Vegas, NV 3
    • 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
    •  
  • 204 Delamar Street Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,467 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,467 Sqft ∙ Built 1960
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 404 Delamar Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
PROPERTY LISTING DETAILS
Noemi Jacob
1.702.303.9911
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251103
Last Updated: 12/03/2020
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