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1582 Del Mar Avenue Las Vegas, NV 89169

3 Beds 1 Baths 2,072 sqft Built 1960

$335,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1960
  • Price/Sqft : $161.68
  • 2 Days on Market
  • MLS # : 2244021
  • Updated Date : 11/02/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,072 sqft
  • Baths : 1 full
Listing Agent

Simply Vegas

Listing Agent's Description

Fantastic Classic Vegas Single Story recently remodeled loaded with New Upgrades. Featuring New Tile flooring, New Cabinets, New Quartz Counters, Custom Backsplash, Stainless Steel Appliances, New Lighting, Large Owner Suite with remodeled Bathroom/Custom Shower, Large Rear Yard with Sparkling Pool just re-plastered and Re-Surfaced Pool Deck. Come take a look at this Fabulous property

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: Winchester

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Robert E. Lake Elementary School Primary Regular 808 53 4
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

Robert E. Lake Elementary School

  • Education Level: Primary
  • # of students: 808
  • # of teachers: 53
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
 

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

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,236
Property Tax -$126
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$191

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

$1,740

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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 40% 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

8.58

YEARS SAVED

$45,404

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6953$1,7404$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 1582 Del Mar Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 2,072 Sqft ∙ Built 1960 3 beds 1 baths ∙ 2,072 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.84
    •  
  • 1805 16th Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1959
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.80
    •  
  • 850 Tam O Shanter Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1969
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 658 Tam O Shanter Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1969
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 1552 Pawnee Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
PROPERTY LISTING DETAILS
Gordon Hammond
1.702.769.3165
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244021
Last Updated: 11/02/2020
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