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1372 White Drive Las Vegas, NV 89119

3 Beds 2 Baths 1,358 sqft Built 1987

$285,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $209.87
  • 3 Days on Market
  • MLS # : 2248020
  • Updated Date : 11/13/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 2 full
Listing Agent

Nevada Desert Realty Inc

Listing Agent's Description

Great 3 bedroom home with a large 3 car garage, gorgeous tile flooring and a gas fireplace in the vaulted ceiling living room. Enjoy a large backyard featuring a covered patio and storage shed, dog run, and more.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,052
Property Tax -$138
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$68

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.

$285,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$30,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4003$1,4254$1,4305$1,495
$1,495
RENT COMPS ANALYSIS
  • 1372 White Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.05
    •  
  • 1318 Montezuma Court #n/a Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1986
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 7157 Abbeyville Drive #na Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1983
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
  • 7147 Abbeyville Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,271 Sqft ∙ Built 1983
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.12
    •  
  • 7127 Sixshooter Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 1984
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.18
    •  
PROPERTY LISTING DETAILS
D Michael Klinger
1.702.296.9736
Nevada Desert Realty Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248020
Last Updated: 11/13/2020
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