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1526 Brasswood Street Las Vegas, NV 89110

4 Beds 4 Baths 2,916 sqft Built 1997

$435,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $149.18
  • 5 Days on Market
  • MLS # : 2244740
  • Updated Date : 11/04/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,916 sqft
  • Baths : 3 full , 1 half
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Las Vegas two-story home offers a loft, granite countertops, a fireplace, and a three-car garage. This home has been virtually staged to illustrate its potential! Thanks for viewing!

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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$391,500$478,500$435,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$1,605
Property Tax -$273
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
-$390

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.

$435,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.39%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$121,025

INVESTMENT

$121,025

Down Payment
$108,750
Rehab Estimate
$5,750
Closing Costs
$6,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,750
Loan Amount $326,250
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,052

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.58

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6903$1,8504$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1526 Brasswood Street Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,916 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.58
    •  
  • 7205 Madonna Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2008
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.58
    •  
  • 915 Golden Poppy Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,168 Sqft ∙ Built 2001
    LEASED 05/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 1307 Morning Sun Way Las Vegas, NV 4
    • 3 beds 3 baths ∙ 3,217 Sqft ∙ Built 1985 3 beds 3 baths ∙ 3,217 Sqft ∙ Built 1985
    LEASED 06/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.58
    •  
  • 1535 Deerford Circle Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.63
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244740
Last Updated: 11/04/2020
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