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1567 Figueroa Drive Las Vegas, NV 89123

4 Beds 1 Baths 2,358 sqft Built 1986

INVESTimate

$448,800

List Price

$1,830

$1,647 - $2,013

Rent Est.

$490,853  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $190.33
  • 3 Days on Market
  • MLS # : 2223791
  • Updated Date : 08/25/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,358 sqft
  • Baths : 1 full
Listing Agent

Realty Executives Southern

Listing Agent's Description

Beautiful One Story home on .31 Acre Cul-De-Sac Lot with sparkling Pool & Spa and RV Parking! Island Kitchen with Tile Flooring, Breakfast Bar, Pantry, R/O, and large Nook w/Bay Window. Formal Living & Dining Rooms, Spacious Family Room with Fireplace. Generous sized bedrooms with Ceiling Fans and Mirrored Closet Doors. MBR features vaulted ceiling and bathroom with roll-in shower. 3 car garage with 2 automatic door openers, epoxy floor coating, storage, and access door. Roof redone in 2010, both AC units replaced in 2017, and new carpet in most of the house in 2020. Pool & Spa replastered and equipment replaced in 2020. Lush mature landscaping with automatic irrigation system. Home was also replumbed with copper plumbing. Other features include crown molding, real wood raised panel doors, central vacuum system, programmable thermostats, extra attic insulation, 2x6 construction, large storage shed, exterior brick accents, and so much more!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$403,920$493,680$448,800

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,656
Property Tax -$260
Property Insurance -$73
HOA -$96
Property Management Fees -$119
CASH FLOW
-$374

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.

$448,800

PROJECTED PRICE

$1,830

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,682

INVESTMENT

$124,682

Down Payment
$112,200
Rehab Estimate
$5,750
Closing Costs
$6,732

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,656

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,200
Loan Amount $336,600
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$6,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8303$1,8504$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 1567 Figueroa Drive Las Vegas, NV 2
    • 4 beds 1 baths ∙ 2,358 Sqft ∙ Built 1986 4 beds 1 baths ∙ 2,358 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.78
    •  
  • 7749 Brook Valley Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,499 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,499 Sqft ∙ Built 1990
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.71
    •  
  • 7717 Lobella Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,405 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 7530 Demona Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,475 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,475 Sqft ∙ Built 1988
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 1780 Horizon Sunset Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,222 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,222 Sqft ∙ Built 1995
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Laura E Harbison
1.702.777.1234
Realty Executives Southern
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223791
Last Updated: 08/25/2020
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