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1812 Parkchester Drive Las Vegas, NV 89108

3 Beds 2 Baths 1,954 sqft Built 1974

$354,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $181.17
  • 6 Days on Market
  • MLS # : 2268585
  • Updated Date : 02/13/2021 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,954 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

This Single Story Home has No HOA, 3 Bedrooms, 2 Bathrooms, and No carpet. Easy to maintenance. Huge Yard! Conveniently located near Major expressways, schools, public transportation, and Shopping.

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: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
Twin Lakes Elementary School Primary Regular 667 31 4
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Twin Lakes Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 31
4
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$318,600$389,400$354,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,230
Property Tax -$181
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$35

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.

$354,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
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

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$99,560

INVESTMENT

$99,560

Down Payment
$88,500
Rehab Estimate
$5,750
Closing Costs
$5,310

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,230

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $88,500
Loan Amount $265,500
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$18,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3803$1,4004$1,5605$1,670
$1,670
RENT COMPS ANALYSIS
  • 1812 Parkchester Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.80
    •  
  • 914 Date Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1954 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1954
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.77
    •  
  • 707 Sea Pines Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 1985
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.85
    •  
  • 3705 Bonanza Road Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 5077 Eugene Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,915 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,915 Sqft ∙ Built 1962
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.87
    •  
PROPERTY LISTING DETAILS
Nancy Li
1.702.353.0529
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268585
Last Updated: 02/13/2021
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