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168 East Neal Avenue Las Vegas, NV 89183

3 Beds 2 Baths 1,882 sqft Built 2016

$349,900

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $185.92
  • 23 Days on Market
  • MLS # : 2238121
  • Updated Date : 11/02/2020 at 14:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,882 sqft
  • Baths : 1 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Don't miss this rarely available Asher Creek, D.R. Horton home. Light and spacious with a flexible floorplan and Primary Suite down, make this a must see! Gourmet kitchen with with so many upgrades, breakfast nook and lovely light and flow throughout make this home incredibly appealing. The spacious loft upstairs, laundry, bath, and two generous bedrooms create a private sanctuary. This one is truly a gem!

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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

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
Del E Webb Middle School Middle Regular 1,863 74 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

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

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

$314,910$384,890$349,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,291
Property Tax -$258
Property Insurance -$64
HOA -$80
Property Management Fees -$119
CASH FLOW
-$341

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.

$349,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.42%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4703$1,5004$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 168 East Neal Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.78
    •  
  • 11532 Kindsland Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2006
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 84 Japonica Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2007
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 11567 Rossovino Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,014 Sqft ∙ Built 2004
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 11587 Rubino Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,993 Sqft ∙ Built 2004
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
PROPERTY LISTING DETAILS
Heidi Locatell
1.858.345.7175
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2238121
Last Updated: 11/02/2020
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