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1609 Amboy Drive Las Vegas, NV 89108

2 Beds 2 Baths 916 sqft Built 1982

INVESTimate

$215,000

List Price

$1,020

$918 - $1,122

Rent Est.

$240,241  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1982
  • Price/Sqft : $234.72
  • 9 Days on Market
  • MLS # : 2222984
  • Updated Date : 08/19/2020 at 12:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 916 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

916 sq ft home, 2 bedrooms, 1 bath, huge backyard, 1 car garage.

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Wing And Lilly Fong Elementary School Primary Regular 867 43 6
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Wing And Lilly Fong Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 43
6
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$918$1,122$1,020

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,020
EXPENSES Loan Payment -$793
Property Tax -$103
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
-$40

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.

$215,000

PROJECTED PRICE

$1,020

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$12,183

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,020

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $799

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$9003$9504$9505$1,020
$1,020
RENT COMPS ANALYSIS
  • 1609 Amboy Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 916 Sqft ∙ Built 1982 2 beds 2 baths ∙ 916 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $1.11
    •  
  • 1908 Lirio Way #a Las Vegas, NV 1
    • 2 beds 2 baths ∙ 973 Sqft ∙ Built 1984 2 beds 2 baths ∙ 973 Sqft ∙ Built 1984
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.90
    •  
  • 6500 Lake Mead Boulevard #110 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,064 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,064 Sqft ∙ Built 1992
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.85
    •  
  • 1622 Marathon Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.87
    •  
  • 1646 Marathon Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984 2 beds 2 baths ∙ 1,089 Sqft ∙ Built 1984
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.87
    •  
PROPERTY LISTING DETAILS
Abimael Duran
1.702.690.4020
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222984
Last Updated: 08/19/2020
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