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

1336 Red Hollow Drive North Las Vegas, NV 89031

4 Beds 3 Baths 2,328 sqft Built 1990

$359,900

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $154.60
  • 5 Days on Market
  • MLS # : 2243217
  • Updated Date : 11/05/2020 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 3 full
Listing Agent

Simply Vegas

Listing Agent's Description

This 2328 sq/ft 4 bed 3 bath home has had only one owner and has been incredibly cared for. The property features mature landscaping and a beautiful yard with side RV parking. The home comes complete with a 3 car garage, 2 wood and gas-burning fireplaces, shutters, laminate floors, plus a large bonus room with a fireplace that would make a perfect office or playroom. You have to see the home to appreciate it.

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: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Lee Antonello Elementary School Primary Regular 654 36 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Lee Antonello Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 36
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$1,328
Property Tax -$222
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$251

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.

$359,900

PROJECTED PRICE

$1,490

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,4953$1,6004$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 1336 Red Hollow Drive North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.64
    •  
  • 5630 Farpoint Road #0 North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.64
    •  
  • 1838 Fighting Falcon Lane North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2002
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 1209 Red Hollow Drive North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 1994
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 1857 Arch Stone Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2005
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
PROPERTY LISTING DETAILS
Brendan J King
1.702.623.3259
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243217
Last Updated: 11/05/2020
BESbswy