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1413 Virgil Street Las Vegas, NV 89110

4 Beds 2 Baths 1,316 sqft Built 1974

$260,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $197.57
  • 5 Days on Market
  • MLS # : 2257369
  • Updated Date : 12/23/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,316 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

BEAUTIFULLY RENOVATED!! This spacious 4 bed home is nestled within a non-HOA neighborhood and has gorgeous new flooring, quartz countertops, stainless steel kitchen appliances, light fixtures, and chic tile surrounds in the bathrooms! Hurry, this one will go quickly!

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: Washington Square

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

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

Neighborhood: Washington Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8131603

* 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
C.c. Ronnow Elementary School Primary Regular 834 49 4
Mario C And Joanne Monaco Middle School Middle Regular 1,426 53 NA
Desert Pines High School High Regular 2,279 99 1

C.c. Ronnow Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 49
4
GreatSchools Rating

Mario C And Joanne Monaco Middle School

  • Education Level: Middle
  • # of students: 1,426
  • # of teachers: 53
NA
GreatSchools Rating

Desert Pines High School

  • Education Level: High
  • # of students: 2,279
  • # of teachers: 99
1
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$959
Property Tax -$102
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$7

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.

$260,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$20,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,188

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0503$1,1504$1,2405$1,295
$1,295
RENT COMPS ANALYSIS
  • 1413 Virgil Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,316 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.94
    •  
  • 1501 Linnbaker Lane #101 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1994
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.83
    •  
  • 1113 James Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,156 Sqft ∙ Built 1963
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.91
    •  
  • 1441 Linnbaker Lane #201 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1994
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.96
    •  
  • 4204 Caliper Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,423 Sqft ∙ Built 1988
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kaitlyn Elo
1.914.860.6511
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257369
Last Updated: 12/23/2020
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