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1727 Michael Way Las Vegas, NV 89108

3 Beds 3 Baths 1,884 sqft Built 1965

$325,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $172.51
  • 7 Days on Market
  • MLS # : 2259013
  • Updated Date : 01/08/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full , 1 half
Listing Agent

Top Tier Realty

Listing Agent's Description

Spectacular Large Lot single story home situated in the heart of Las Vegas, This Gorgeous home has an incredible backyard with a pool perfect for entertaining. Large open kitchen with granite counters, breakfast bar & island, all stainless steel appliances included. New roof, New AC unit, new flooring and freshly painted Over sized master bedroom and super master bath. Open floor plan living room with a beautiful and cozy fireplace. 2 RV Parking. A MUST SEE!

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

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$1,129
Property Tax -$117
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$142

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.

$325,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.48%

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$20k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$32,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5703$1,6704$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 1727 Michael Way Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1965 3 beds 3 baths ∙ 1,884 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.83
    •  
  • 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
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 5077 Eugene Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,915 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,915 Sqft ∙ Built 1962
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.87
    •  
  • 1316 Winwood Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1964
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 1832 Hermitage Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,036 Sqft ∙ Built 1979
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
PROPERTY LISTING DETAILS
Randolph R Reyes
1.702.586.8588
Top Tier Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259013
Last Updated: 01/08/2021
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