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166 Jarren Avenue Las Vegas, NV 89183

4 Beds 3 Baths 2,709 sqft Built 2019

$525,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $193.80
  • 2 Days on Market
  • MLS # : 2314143
  • Updated Date : 07/12/2021 at 22:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,709 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

This home was built in 2019 and has an open floor plan with beautiful wood flooring throughout the downstairs. Lots of space to spread out with 4 spacious bedrooms, a downstairs den and an upstairs loft space that could be a playroom, office, gym or remote learning spot. Big bright inviting kitchen has white quartz counter tops with a center island and lots of cabinet space. Kitchen has stainless steel appliances that are included, a large walk-in pantry and double ovens. The dining room upgraded addition overlooks backyard and allows good lighting. Have your morning coffee under your covered patio, grill up dinner on the brick paver patio with your gas hookup and then soak in your hot tub after those long days. The primary bathroom has dual vanities and a separate glass shower. Ideal location surrounded by new shopping centers, easy access to highways with countless restaurants, bars and entertainment options on the strip. Close to the highly rated elementary school, Schoor.

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Steve Schorr Elementary School Primary Regular 1,042 54 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

Steve Schorr Elementary School

  • Education Level: Primary
  • # of students: 1,042
  • # of teachers: 54
7
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,824
Property Tax -$357
Property Insurance -$80
HOA -$60
Property Management Fees -$119
CASH FLOW
$81

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.

$525,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$41,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,276

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2203$2,4004$2,5205$2,595
$2,595
RENT COMPS ANALYSIS
  • 166 Jarren Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,709 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.93
    •  
  • 11744 San Rossore Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,774 Sqft ∙ Built 2002
    property image
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 178 La Padania Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,774 Sqft ∙ Built 2004
    property image
    LEASED 04/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.80
    •  
  • 84 Kaku Ridge Way Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,633 Sqft ∙ Built 2017 5 beds 3 baths ∙ 2,633 Sqft ∙ Built 2017
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 35 Sirius Ridge Way Las Vegas, NV 5
    • 5 beds 2 baths ∙ 2,782 Sqft ∙ Built 2016 5 beds 2 baths ∙ 2,782 Sqft ∙ Built 2016
    property image
    LEASED 05/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lauren Paris
1.702.768.8940
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314143
Last Updated: 07/12/2021
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