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1733 Griffith Avenue Las Vegas, NV 89104

3 Beds 2 Baths 1,427 sqft Built 1961

$334,900

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $234.69
  • 3 Days on Market
  • MLS # : 2266094
  • Updated Date : 02/06/2021 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,427 sqft
  • Baths : 2 full
Listing Agent

Offerpad

Listing Agent's Description

CHARMING 1 story home with 3 bedrooms & 2 baths. NEW exterior & interior paint. NEW shaker cabinets thru out. Various NEW light fixtures. Living room w/woodburning fireplace. Dining area. The kitchen features NEW quartz counters, undermount sink, garbage disposal & SS appliances. NEW vinyl plank flooring, carpet & baseboards thru out. Master bedroom w/NEW ceiling fan & ensuite bath. Both baths have been updated. HVAC & electrical repairs. Roof repaired. Backyard w/patio. No HOA. COME SEE TODAY!

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: 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
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$1,163
Property Tax -$98
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$315

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.

$334,900

PROJECTED PRICE

$1,120

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.8%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,163

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,124

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1203$1,2504$1,3505$1,395
$1,395
RENT COMPS ANALYSIS
  • 1733 Griffith Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.78
    •  
  • 1081 Canosa Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1951 3 beds 1 baths ∙ 1,294 Sqft ∙ Built 1951
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.73
    •  
  • 1626 Lewis Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1942 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 1942
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 1701 Canosa Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1954 4 beds 2 baths ∙ 1,751 Sqft ∙ Built 1954
    property image
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 2033 Wengert Avenue Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,745 Sqft ∙ Built 1960 4 beds 1 baths ∙ 1,745 Sqft ∙ Built 1960
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.80
    •  
PROPERTY LISTING DETAILS
Robert E Jones
1.480.636.9175
Offerpad
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266094
Last Updated: 02/06/2021
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