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18 Harvard Street Las Vegas, NV 89107

4 Beds 2 Baths 1,270 sqft Built 1959

$259,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $204.65
  • 7 Days on Market
  • MLS # : 2260824
  • Updated Date : 01/15/2021 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,270 sqft
  • Baths : 1 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

LIKE NEW!! Come take a look at this totally remodeled four bedroom and two bath home; situated on a large corner lot. This property is perfect for entertaining with a large covered patio and beautiful backyard. Featuring a new custom kitchen, new cabinets, stainless appliances, new bathroom upgrades, flooring, interior and exterior paint. Perfect corner lot that offers plenty of parking. This great location offers easy freeway access and is only minutes to downtown Las Vegas or Summerlin. Hurry and come bring your picky buyers to an affordable home that will not last long.

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$903
Property Tax -$79
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$67

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.

$259,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$22,018

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,270

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,2503$1,2504$1,2955$1,400
$1,400
RENT COMPS ANALYSIS
  • 18 Harvard Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,270 Sqft ∙ Built 1959
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.96
    •  
  • 5905 Shawnee Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 601 Decatur Boulevard Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,239 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,239 Sqft ∙ Built 1955
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 625 Helyne Street #0 Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,301 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,301 Sqft ∙ Built 1959
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.00
    •  
  • 305 Minnesota Street Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1959
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ronald D Hemphill
1.702.249.8053
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260824
Last Updated: 01/15/2021
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