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1509 Cayuga Parkway Las Vegas, NV 89169

3 Beds 2 Baths 1,520 sqft Built 1961

$335,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $220.39
  • 46 Days on Market
  • MLS # : 2239984
  • Updated Date : 11/25/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Paradise Palms turnkey property. Completely REMODELED This Mid-Century Modern Gem underwent a stylish renovation which includes a Brand New Kitchen with Shaker Cabinets, Quartz Counters and SS Appliances. The carpet, lighting and plumbing fixtures were all installed new earlier this year. Property is completely fenced for additional security and has electric roll up shutters on most windows. Large backyard with mosaic tile and patio with storage. Bring your offers, this one won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise Palms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k301k

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

Neighborhood: Paradise Palms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9651752

* 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
Ruby S. Thomas Elementary School Primary Regular 817 44 2
William E. Orr Middle School Middle Regular 933 36 NA
Valley High School High Magnet 2,826 123 2

Ruby S. Thomas Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 44
2
GreatSchools Rating

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,236
Property Tax -$129
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$71

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.

$335,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.6%
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$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$18,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,5504$1,7455$1,900
$1,900
RENT COMPS ANALYSIS
  • 1509 Cayuga Parkway Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.97
    •  
  • 1528 Cayuga Pw Parkway #0 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1960
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 3378 Seneca Drive Las Vegas, NV 3
    • 4 beds 4 baths ∙ 1,580 Sqft ∙ Built 1963 4 beds 4 baths ∙ 1,580 Sqft ∙ Built 1963
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 3164 Silver Saddle Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1963
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.06
    •  
  • 3133 Bel Air Las Vegas, NV 5
    • 3 beds 4 baths ∙ 1,672 Sqft ∙ Built 1974 3 beds 4 baths ∙ 1,672 Sqft ∙ Built 1974
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.14
    •  
PROPERTY LISTING DETAILS
Anthony Alfonzo
1.702.303.4161
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239984
Last Updated: 11/25/2020
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