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1337 Cashman Drive Las Vegas, NV 89102

3 Beds 4 Baths 2,791 sqft Built 1961

INVESTimate

$540,000

List Price

$2,360

$2,124 - $2,596

Rent Est.

$599,184  ( +10.96%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $193.48
  • 7 Days on Market
  • MLS # : 2222079
  • Updated Date : 08/23/2020 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,791 sqft
  • Baths : 3 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

This Unique vintage, custom single story home is waiting for a new owner that can visualize the potential. 1.05 Acres - Largest lot in the area. Located in historic Mc Neil Estates. Lg Living room w/expansive wood burning brick fireplace, bar area, wall to wall windows w/view of backyard swimming pool & spa. 3 bedrooms each with private bathrooms, MBR features cathedral ceilings, slider to private courtyard w/brick fireplace & walk-in closet. Separate dining room, Kitchen-family room combination. 2 car garage with extra work-room. Located on private cul-de-sac w gated entry to property.

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: McNeil Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k396k

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

Neighborhood: McNeil Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762137

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$486,000$594,000$540,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,992
Property Tax -$304
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$137

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.

$540,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.96%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,850

INVESTMENT

$148,850

Down Payment
$135,000
Rehab Estimate
$5,750
Closing Costs
$8,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $135,000
Loan Amount $405,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$30,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,568

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,3604$2,5955$3,500
$3,500
RENT COMPS ANALYSIS
  • 1337 Cashman Drive Las Vegas, NV 3
    • 3 beds 4 baths ∙ 2,791 Sqft ∙ Built 1961 3 beds 4 baths ∙ 2,791 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.85
    •  
  • 1131 Strong Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1958
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 2104 Bonnie Brae Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 1963 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 1963
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 1708 Adra Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1979 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1979
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.85
    •  
  • 721 Campbell Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,965 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,965 Sqft ∙ Built 1981
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Sylvia Kilo
1.702.423.2957
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222079
Last Updated: 08/23/2020
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