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1708 Ivanhoe Way Las Vegas, NV 89102

3 Beds 1 Baths 2,095 sqft Built 1963

$419,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $200.43
  • 27 Days on Market
  • MLS # : 2257102
  • Updated Date : 01/17/2021 at 04:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,095 sqft
  • Baths : 1 full
Listing Agent

Better Life Realty

Listing Agent's Description

Vintage Vegas living in Glen Heather Estates. Single story no HOA. Move in ready. Property has been thoughtfully re-designed with new kitchen and family room configurations. Huge Quartz Island, brand new cabinets, engineered wood look tile, new linear fireplace. Pool sized lot. Visit and see why the mid century modern market is on fire! Home is located minutes from downtown Las Vegas and the Strip; McCarran International Airport, T Mobile Arena and the new Las Vegas Raiders home, Allegiant Stadium. Close to local casinos, dining and shopping.

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: Glen Heather Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $111k316k

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

Neighborhood: Glen Heather Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650Rent in $10761650

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,458
Property Tax -$141
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$64

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.

$419,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$34,744

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,074

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9954$2,0005$2,350
$2,350
RENT COMPS ANALYSIS
  • 1708 Ivanhoe Way Las Vegas, NV 2
    • 3 beds 1 baths ∙ 2,095 Sqft ∙ Built 1963 3 beds 1 baths ∙ 2,095 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 2612 Mason Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,944 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,944 Sqft ∙ Built 1959
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 2913 Colanthe Avenue Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,079 Sqft ∙ Built 1963 4 beds 1 baths ∙ 2,079 Sqft ∙ Built 1963
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.96
    •  
  • 2901 Burton Avenue #na Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1961
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 2128 Glen Heather Way Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1962
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.16
    •  
PROPERTY LISTING DETAILS
Brian J Frabbiele
1.702.523.4051
Better Life Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257102
Last Updated: 01/17/2021
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