Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1621 San Pedro Avenue Las Vegas, NV 89104

3 Beds 1 Baths 1,131 sqft Built 1956

INVESTimate

$219,900

List Price

$1,120

$1,008 - $1,232

Rent Est.

$252,027  ( +14.61%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1956
  • Price/Sqft : $194.43
  • 9 Days on Market
  • MLS # : 2222778
  • Updated Date : 08/21/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,131 sqft
  • Baths : 1 full
Listing Agent

Elite Realty

Listing Agent's Description

Located in a well mature neighborhood that shows pride of home ownership through out , this corner lot home features , open floor entry separate large entry room perfect for office room , upgraded bathrooms , tile through out , upgraded cabinetry , pantry room. Large back yard with enough side to create an RV entrance and plenty of yard left for any possibility or entertainment .

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Francisco Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $81k296k

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

Neighborhood: Francisco Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9481603

* 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
Crestwood Elementary School Primary Regular 679 44 4
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

Crestwood Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 44
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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$811
Property Tax -$82
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$58

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.

$219,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.61%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$22,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $925

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9503$1,0504$1,1205$1,250
$1,250
RENT COMPS ANALYSIS
  • 1621 San Pedro Avenue Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,131 Sqft ∙ Built 1956 3 beds 1 baths ∙ 1,131 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.99
    •  
  • 2104 Chapman Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 975 Sqft ∙ Built 1956 3 beds 1 baths ∙ 975 Sqft ∙ Built 1956
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.87
    •  
  • 1081 Canosa Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1951
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.73
    •  
  • 1713 Eastwood Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,274 Sqft ∙ Built 1953 4 beds 2 baths ∙ 1,274 Sqft ∙ Built 1953
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.82
    •  
  • 1626 Lewis Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1942
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
PROPERTY LISTING DETAILS
Mario Rocha
1.702.542.8713
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222778
Last Updated: 08/21/2020
BESbswy