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1260 Athens Point Avenue Las Vegas, NV 89123

5 Beds 4 Baths 3,620 sqft Built 1998

$619,900

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $171.24
  • 7 Days on Market
  • MLS # : 2265793
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,620 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Beautiful single story home in a gated Silverado Ranch community featuring a large lot over 11,000 square feet This home features a magnificent kitchen with granite countertops, island, kitchen nook and walk-in pantry. The kitchen opens into the large family room and has direct access to the backyard and covered patio. The spacious master bedroom has two walk-in closets, a two-way fireplace with the master bath and access to the backyard. The master bath features two sinks and separate jetted tub and shower. The additional Four large bedrooms are spacious and could perfect for a traditional bedroom or a home office/zoom room. Beautiful living room with vaulted ceilings and upgraded crown molding and lighting. Separate Dining room could be converted to an additional home office. Large covered patio with built in barbecue and dual fans surrounded by lush mature landscaping and fruit trees. The spacious three-car garage includes storage shelves and plenty of room for your toys.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

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
Roger Gehring Elementary School Primary Regular 676 39 9
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Silverado High School High Regular 2,263 94 5

Roger Gehring Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 39
9
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Silverado High School

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

$557,910$681,890$619,900

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,153
Property Tax -$424
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
$87

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.

$619,900

PROJECTED PRICE

$2,880

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,024

INVESTMENT

$170,024

Down Payment
$154,975
Rehab Estimate
$5,750
Closing Costs
$9,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $154,975
Loan Amount $464,925
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$47,566

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,815

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,5003$2,7004$2,8805$3,050
$3,050
RENT COMPS ANALYSIS
  • 1260 Athens Point Avenue Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,620 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,620 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.80
    •  
  • 319 Ravensmere Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,274 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,274 Sqft ∙ Built 2002
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.70
    •  
  • 1904 Imola Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,437 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,437 Sqft ∙ Built 1997
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.73
    •  
  • 1313 Waterford Falls Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,380 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,380 Sqft ∙ Built 1999
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.80
    •  
  • 296 Great Duke Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 1999
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.88
    •  
PROPERTY LISTING DETAILS
Mesha Graham
1.702.370.9562
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265793
Last Updated: 02/06/2021
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