Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1309 Riverside Drive Las Vegas, NV 89106

4 Beds 1 Baths 2,147 sqft Built 1955

$310,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1955
  • Price/Sqft : $144.39
  • 31 Days on Market
  • MLS # : 2266328
  • Updated Date : 02/26/2021 at 18:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,147 sqft
  • Baths : 1 full
Listing Agent

Century 21 Americana

Listing Agent's Description

WOW, WOW, WOW!!! Absolutely stunning SINGLE STORY 4 bed 2 bath home with a SPARKING POOL just in time to beat the Vegas heat!! Pride of ownership to the fullest! With a modern/cottage style exterior all freshly painted! Crown molding in main areas, beadboard, beautiful gray laminate flooring in main areas. This kitchen has it ALL with stainless steel appliances, center island, HUGE pantry, and plenty of cabinet space!! 3 A/C's, with 3 different controls to stay energy efficient! NEW WINDOWS throughout!! The backyard is sure to impress with a beautiful pool, cabana style deck, and beautiful landscaping! HUGE storage shed in front that will stay and can easily be converted into a 1 car garage.

SEE MORE

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: 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
Western High School High Regular 2,534 112 2
Western High School High Unknown NA

Ollie Detwiler Elementary School

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

Western High School

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

Western High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,077
Property Tax -$114
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$331

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.

$310,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.55%

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$51,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5003$1,7104$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 1309 Riverside Drive Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,147 Sqft ∙ Built 1955 4 beds 1 baths ∙ 2,147 Sqft ∙ Built 1955
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.80
    •  
  • 1320 Robin Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,844 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,844 Sqft ∙ Built 1965
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 1616 Luning Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1963
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 1425 Bartlett Las Vegas, NV 4
    • 3 beds 1 baths ∙ 2,224 Sqft ∙ Built 1944 3 beds 1 baths ∙ 2,224 Sqft ∙ Built 1944
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 805 Chabot Las Vegas, NV 5
    • 5 beds 1 baths ∙ 2,468 Sqft ∙ Built 1963 5 beds 1 baths ∙ 2,468 Sqft ∙ Built 1963
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
PROPERTY LISTING DETAILS
Rachel E Monzello
1.702.469.0044
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266328
Last Updated: 02/26/2021
BESbswy