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1526 Evening Spirit Avenue Las Vegas, NV 89183

3 Beds 3 Baths 1,269 sqft Built 2005

$267,900

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $211.11
  • 3 Days on Market
  • MLS # : 2249765
  • Updated Date : 11/21/2020 at 11:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,269 sqft
  • Baths : 2 full , 1 half
Listing Agent

Executive Realty Services

Listing Agent's Description

2-Story home with 3 bedrooms, 3 bathrooms, carpet and tile flooring throughout, granite countertops in the kitchen, and a separate master bedroom and bath upstairs! Fresh paint on the exterior, the front yard is conveniently maintained by the HOA, and the home is located in a gated community with basketball courts, a clubhouse, barbeque area, playground, community pool and security.

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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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Shirley A. Barber Elementary Primary Unknown NA
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

Shirley A. Barber Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$241,110$294,690$267,900

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$988
Property Tax -$168
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$57

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$267,900

PROJECTED PRICE

$1,270

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$76,744

INVESTMENT

$76,744

Down Payment
$66,975
Rehab Estimate
$5,750
Closing Costs
$4,019

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$988

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,975
Loan Amount $200,925
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,371

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3503$1,3504$1,4005$1,475
$1,475
RENT COMPS ANALYSIS
  • 1526 Evening Spirit Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.00
    •  
  • 1597 Homeward Cloud Avenue #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2006
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 10445 Morning Sorrow Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2006
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 1659 Summer Blush Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
  • 1646 Tristan Flower Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 2007
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.10
    •  
PROPERTY LISTING DETAILS
Nanci Rachi
1.303.292.2615
Executive Realty Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249765
Last Updated: 11/21/2020
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