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1604 Calle Montery Street Las Vegas, NV 89117

4 Beds 3 Baths 2,522 sqft Built 1998

$509,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $201.82
  • 5 Days on Market
  • MLS # : 2262939
  • Updated Date : 01/21/2021 at 01:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,522 sqft
  • Baths : 3 full
Listing Agent

Re/max Advantage

Listing Agent's Description

This is the home you have been waiting for! Relax in your private back yard next to your newly refinished pool and spa. Immaculately maintained inside and out by long term owner. The 2 story ceilings in the living room welcome you in. Enjoy many meals in the large dining room. Well appointed kitchen with stainless appliances, granite countertops and pendant lights. Cozy family room with French doors out to the covered patio. This master bedroom is the perfect retreat with hardwood flooring, additional sitting room and spa like master bath with separate tub and shower. There is one bedroom downstairs with a full bath. Two additional, good sized bedrooms round out the upstairs. This home is well upgraded with shutters, upgraded carpet, finished garage with epoxy flooring, water softener, reverse osmosis, and a beautiful stairway. All appliances stay. The neighborhood is close to shopping, walking paths and freeways. This is a home and location that is hard to beat!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Peccole Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Peccole Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$458,100$559,900$509,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,768
Property Tax -$315
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$98

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.

$509,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,635

INVESTMENT

$140,635

Down Payment
$127,250
Rehab Estimate
$5,750
Closing Costs
$7,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,768

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,250
Loan Amount $381,750
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$25,386

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,999

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,1004$2,1805$2,200
$2,200
RENT COMPS ANALYSIS
  • 1604 Calle Montery Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.86
    •  
  • 1312 Mount Hamilton Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,521 Sqft ∙ Built 2000
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 1300 Calle Montery Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,522 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,522 Sqft ∙ Built 1998
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 9700 Quail Springs Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1992
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 9829 Via Delores Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1998
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jody A Lenzie
1.702.499.9494
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262939
Last Updated: 01/21/2021
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