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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $227.37
- 4 Days on Market
- MLS # : 2251941
- Updated Date : 12/03/2020 at 15:53
CONSTRUCTION
- Beds : 2
- Floor Size : 939 sqft
- Baths : 1 full , 1 half
Listing Agent
Realty One Group, Inc
Listing Agent's Description
Amazing opportunity!! Light, bright and airy one-story home with vaulted ceilings throughout, all tile flooring, freshly painted interior, 2 car garage, and no HOA! One block away from tons of fun amenities at Wells Park and community center, which features a pool with waterslide, basketball courts, sports fields, playground, and more! This home has a newer roof, updated A/C, and is looped for a water softener. The living room features a charming brick fireplace with mantle, vaulted ceilings and a ceiling fan. Kitchen has tile backsplash, lots of counterspace and a pantry. Dining area features a lovely bay window. Master bedroom has a slider to the patio, vaulted ceilings, ceiling fan, and walk-in closet. Covered patio and a shed in the private backyard. Hurry, this great deal will go quickly!
SEE MORE
- 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: Pittman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pittman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $990 |
| EXPENSES | Loan Payment | -$788 |
| Property Tax | -$91 | |
| Property Insurance | -$45 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$53
|
||
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.
$213,500
PROJECTED PRICE
$990
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,328
LOAN DETAILS
$788
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,375 |
| Loan Amount | $160,125 |
4.58
YEARS SAVED
$11,269
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$990
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$1,066
COMP ESTIMATED VALUE -
$1.14
COMP AVG. RENT PER SQFT
Comps Range
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1607 Lorna Drive Henderson, NV 1
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LEASED 07/15/20- Rent
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- $1,000
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-
564 Kristin Lane #n/a Henderson, NV 3
- 2 beds 3 baths ∙ 1,056 Sqft ∙ Built 1986 2 beds 3 baths ∙ 1,056 Sqft ∙ Built 1986
LEASED 03/30/20- Rent
- Rent Per SQFT
- $1,095
- $1.04
-
525 Dutchman Avenue #0 Henderson, NV 4
- 2 beds 2 baths ∙ 966 Sqft ∙ Built 1986 2 beds 2 baths ∙ 966 Sqft ∙ Built 1986
LEASED 07/25/20- Rent
- Rent Per SQFT
- $1,100
- $1.14
-
1654 Justin Circle #0 Henderson, NV 5
- 2 beds 2 baths ∙ 1,038 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,038 Sqft ∙ Built 1984
LEASED 08/09/20- Rent
- Rent Per SQFT
- $1,250
- $1.20
PROPERTY LISTING DETAILS
1.702.321.2370
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2251941
Last Updated: 12/03/2020
