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1584 La Jolla Avenue Las Vegas, NV 89169

3 Beds 1 Baths 1,161 sqft Built 1960

$259,900

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1960
  • Price/Sqft : $223.86
  • 7 Days on Market
  • MLS # : 2271514
  • Updated Date : 02/26/2021 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,161 sqft
  • Baths : 1 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

BEAUTIFUL SINGLE STORY 3 BEDROOM HOME IN THE HEART OF LAS VEGAS. JUST MINUTES TO THE CONVENTION CENTER, LAS VEGAS STRIP AND DOWNTOWN. NO HOA & NICELY REMODELED INTERIOR FEATURING 20X20 TILE FLOORING, NEW INTERIOR PAINT, REFINISHED KITCHEN CABINETS, NEWER ROOF & HVAC, NEW TOILETS, MATURE LAWN AND 1 CARPORT. BACKYARD FEATURES A COVERED PATIO & SMALL STORAGE FACILITY, MOVE IN READY ALL APPLIANCES INCLUDED!

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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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$903
Property Tax -$96
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$73

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.

$259,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530$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$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$22,316

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,274

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,2404$1,3005$1,500
$1,500
RENT COMPS ANALYSIS
  • 1584 La Jolla Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,161 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,161 Sqft ∙ Built 1960
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.07
    •  
  • 2680 Kline #1 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 1974
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.00
    •  
  • 2657 Kline Circle #1 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,146 Sqft ∙ Built 1974
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.05
    •  
  • 1405 Vegas Valley Drive #287 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,125 Sqft ∙ Built 1971
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.16
    •  
  • 2963 Berman Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 1963
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.18
    •  
PROPERTY LISTING DETAILS
Alex E Adabashi
1.702.985.5657
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271514
Last Updated: 02/26/2021
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