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1713 Griffith Avenue Las Vegas, NV 89104

4 Beds 2 Baths 2,029 sqft Built 1961

INVESTimate

$310,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$352,718  ( +13.78%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1961
  • Price/Sqft : $152.78
  • 7 Days on Market
  • MLS # : 2223285
  • Updated Date : 08/20/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,029 sqft
  • Baths : 2 full
Listing Agent

United Realty Group

Listing Agent's Description

Beautiful single story home with 4 bedrooms located in central LV within the community of Huntridge. You do not want to miss this! Wood & tile flooring throughout. Open kitchen and dining area. Statement fireplace in large family room with ceiling fan/light. All bedrooms have ceiling fan/light. Huge yard with covered patio perfect for entertaining.

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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: Crestwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k296k

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

Neighborhood: Crestwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9141603

* 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
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,144
Property Tax -$113
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$38

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.

$310,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.78%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$26,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4803$1,5504$1,5505$1,690
$1,690
RENT COMPS ANALYSIS
  • 1713 Griffith Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1961 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.73
    •  
  • 1412 16th Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 2,079 Sqft ∙ Built 1961 3 beds 1 baths ∙ 2,079 Sqft ∙ Built 1961
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 2013 Monterey Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,218 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,218 Sqft ∙ Built 1969
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 1406 Bonita Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1960
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 1805 16th Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1959
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.80
    •  
PROPERTY LISTING DETAILS
Penny Carrillo
1.702.290.2249
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223285
Last Updated: 08/20/2020
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