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1518 Phillips Avenue Las Vegas, NV 89104

5 Beds 2 Baths 1,517 sqft Built 1956

$279,999

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1956
  • Price/Sqft : $184.57
  • 3 Days on Market
  • MLS # : 2246465
  • Updated Date : 11/07/2020 at 15:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,517 sqft
  • Baths : 2 full
Listing Agent

Swg Realty Group

Listing Agent's Description

Great deal on this NEWLY RENOVATED home in Downtown Las Vegas. 5 bedrooms, 2 bathroom, HUGE corner lot with RV parking, large yard and covered patio! NEW white shaker cabinetry, quartz counter tops, modern matte black hardware, tile floors, new water heater. Kitchen features a garden sink, stainless steel appliances, and an island open to the living areas.A MUST SEE!

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: Francisco Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $81k296k

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

Neighborhood: Francisco Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9481603

* 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
Crestwood Elementary School Primary Regular 679 44 4
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

Crestwood Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 44
4
GreatSchools Rating

John C. Fremont Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 41
NA
GreatSchools Rating

Valley High School

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

$251,999$307,999$279,999

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$1,033
Property Tax -$90
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$118

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.

$279,999

PROJECTED PRICE

$1,180

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.6%
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-$4.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $209,999
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,119

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2003$1,2004$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 1518 Phillips Avenue Las Vegas, NV 1
    • 5 beds 2 baths ∙ 1,517 Sqft ∙ Built 1956 5 beds 2 baths ∙ 1,517 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.78
    •  
  • 1425 Wengert Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,796 Sqft ∙ Built 1951 4 beds 1 baths ∙ 1,796 Sqft ∙ Built 1951
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.67
    •  
  • 373 Bruce Street Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1951 4 beds 1 baths ∙ 1,679 Sqft ∙ Built 1951
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.71
    •  
  • 1701 Canosa Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1954
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 2033 Wengert Avenue Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,745 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,745 Sqft ∙ Built 1960
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
PROPERTY LISTING DETAILS
Karina A Giraldo
1.702.480.9131
Swg Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246465
Last Updated: 11/07/2020
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