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

1478 Christy Lane Las Vegas, NV 89142

3 Beds 2 Baths 1,090 sqft Built 1982

$246,500

List Price

$1,100

$990 - $1.2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $226.15
  • 5 Days on Market
  • MLS # : 2265530
  • Updated Date : 01/30/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,090 sqft
  • Baths : 2 full
Listing Agent

Palacios Realty

Listing Agent's Description

Beautiful single story , new carpet, freshly painted,Turn key property. 3 bedrooms 2 full baths.Great property, nice kitchen and ceramic tile threw out home, single story and large yard must show Now on lock box. Please show

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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
John F. Mendoza Elementary School Primary Regular 831 35 3
Duane Keller Middle School Middle Regular 1,257 56 NA
Las Vegas High School High Regular 3,077 121 4

John F. Mendoza Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 35
3
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$221,850$271,150$246,500

PURCHASE PRICE

$990$1,210$1,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,100
EXPENSES Loan Payment -$856
Property Tax -$103
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$27

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.

$246,500

PROJECTED PRICE

$1,100

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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

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$71,073

INVESTMENT

$71,073

Down Payment
$61,625
Rehab Estimate
$5,750
Closing Costs
$3,698

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$856

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,625
Loan Amount $184,875
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$12,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,100

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $956

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,1004$1,1005$1,290
$1,290
RENT COMPS ANALYSIS
  • 1478 Christy Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.01
    •  
  • 5655 Sahara Avenue #2012 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2001
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 5650 Sahara Avenue #2049 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 1300 Arlington Street #202 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 5128 Sandstone Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,422 Sqft ∙ Built 1993
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.91
    •  
PROPERTY LISTING DETAILS
Sergio Alarcon
1.702.387.1807
Palacios Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265530
Last Updated: 01/30/2021
BESbswy