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1701 Blue Mountain Drive Las Vegas, NV 89108

4 Beds 3 Baths 1,825 sqft Built 1974

$314,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $172.55
  • 3 Days on Market
  • MLS # : 2265326
  • Updated Date : 01/31/2021 at 01:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,825 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas Strong Real Estate Group

Listing Agent's Description

Beautiful single story pool home featuring 4 bedrooms 2 baths. The kitchen features quartz countertops with a reverse osmosis system under the kitchen sink which conveys with property. Tile flooring throughout the home, remodeled bathrooms with glass doors, the pool was recently resurfaced and new tile added. New lighting throughout the property with new lighted switches. Home was recently painted inside and out. French doors lead you out to a new covered patio and to the large pool for endless summer fun!! Energy-efficient windows and doors. Exhaust fans in both bathrooms are bluetooth speakers as well so listen to music while you're in there!! New front yard landscaping. The driveway was extended for additional parking. Home is located near shopping and schools. More pictures to come!

SEE MORE

MARKET HIGHLIGHTS

  • 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

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
J.t. Mcwilliams Elementary School Primary Regular 730 40 4
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

J.t. Mcwilliams Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 40
4
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

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

$283,410$346,390$314,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,094
Property Tax -$136
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$119

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.

$314,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$29,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,620

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5003$1,5254$1,5305$1,670
$1,670
RENT COMPS ANALYSIS
  • 1701 Blue Mountain Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 1974 4 beds 3 baths ∙ 1,825 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.84
    •  
  • 6216 Saginaw Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 5513 Bartlett Avenue Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,633 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,633 Sqft ∙ Built 1971
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 1801 Palo Alto Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,652 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,652 Sqft ∙ Built 1984
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
  • 5077 Eugene Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,915 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,915 Sqft ∙ Built 1962
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.87
    •  
PROPERTY LISTING DETAILS
James Alamillo
1.702.491.7942
Vegas Strong Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265326
Last Updated: 01/31/2021
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