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PROPERTY INFO
FACTS
- Built In 1964
- Price/Sqft : $181.50
- 8 Days on Market
- MLS # : 2244554
- Updated Date : 11/06/2020 at 09:15
CONSTRUCTION
- Beds : 3
- Floor Size : 1,157 sqft
- Baths : 1 full , 1 half
Listing Agent
Park Place Realty
Listing Agent's Description
Great home with spacious yard and fully fenced front wall and car port! Home has been recently touched up and cleaned up and it looks beautiful! Very easy to show, seller is always home! Make your appointment today!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: West Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: West Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,130 |
| EXPENSES | Loan Payment | -$775 |
| Property Tax | -$90 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$96
|
||
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.
$209,999
PROJECTED PRICE
$1,130
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$61,400
LOAN DETAILS
$775
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $52,500 |
| Loan Amount | $157,499 |
7.92
YEARS SAVED
$25,232
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,130
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,134
COMP ESTIMATED VALUE -
$0.98
COMP AVG. RENT PER SQFT
Comps Range
-
1816 Lexington Street Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,157 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,157 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $1,130
- $0.98
-
1925 Lawry Avenue North Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,269 Sqft ∙ Built 1964
LEASED 02/21/20- Rent
- Rent Per SQFT
- $1,195
- $0.94
-
1353 Lawry Avenue Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1950 3 beds 2 baths ∙ 1,308 Sqft ∙ Built 1950
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,199
- $0.92
-
893 West Carey Avenue #0 Las Vegas, NV 4
- 4 beds 1 baths ∙ 1,320 Sqft ∙ Built 1971 4 beds 1 baths ∙ 1,320 Sqft ∙ Built 1971
LEASED 08/28/20- Rent
- Rent Per SQFT
- $1,275
- $0.97
-
213 Elliott Avenue Las Vegas, NV 5
- 4 beds 1 baths ∙ 1,329 Sqft ∙ Built 1962 4 beds 1 baths ∙ 1,329 Sqft ∙ Built 1962
LEASED 08/07/20- Rent
- Rent Per SQFT
- $1,450
- $1.09
PROPERTY LISTING DETAILS
1.702.241.4173
Park Place Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2244554
Last Updated: 11/06/2020
