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177 Greenwich Village Avenue Las Vegas, NV 89123

3 Beds 3 Baths 1,977 sqft Built 2001

$339,950

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $171.95
  • 14 Days on Market
  • MLS # : 2239811
  • Updated Date : 10/28/2020 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,977 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ultimate Realty, Llc

Listing Agent's Description

Central Park Development Looks manicured coming thru the gate! The 10' ceilings throughout the home add a whole different open modern feeling to it's almost 2000 SF of space. Your secluded Primary Bdrm gives enormous w/i closet/dressing room +a 2nd set of Closets, Plantation Shutters cover the windows + CeilingFan&Light. Living room is loaded w/5Large windows+oversized sliding doors to Patio, sized 4 a Spa &BBQ,surrounded by Super-Tall Shrubbery. This one unit has the longest Driveway for guest-parking. Desk &Brkfast-Bar Island Kitchn w/Lrg Skylight overhead; adjacent Spacious Laundry rm w/Lrg CounterTop -5Cabnets long.The 2 guest rms are on opposite side of home w/ private hallway and bath. Family rm open to Kitchn could also be dinning/Breakfast rm,as well as the Formal dinning area in the 25' Liv. Rm. You will love the Pride of Ownership thruout this 'Hood, as well as it's facilities,security,Proximity to every service &commerce.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
John R. Hummel Elementary School Primary Regular 776 40 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John R. Hummel Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 40
7
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$305,955$373,945$339,950

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,254
Property Tax -$228
Property Insurance -$65
HOA -$157
Property Management Fees -$119
CASH FLOW
-$274

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.

$339,950

PROJECTED PRICE

$1,550

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$95,837

INVESTMENT

$95,837

Down Payment
$84,988
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,988
Loan Amount $254,963
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$4,833

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,715

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 177 Greenwich Village Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 9200 Penn Station Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2001
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 155 Twin Towers Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,977 Sqft ∙ Built 2002
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 169 Coney Island Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 2002
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 171 Staten Island Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,893 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,893 Sqft ∙ Built 2002
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Michael W Lyle
1.702.808.6330
Ultimate Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2239811
Last Updated: 10/28/2020
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