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1825 Griffith Avenue Las Vegas, NV 89104

4 Beds 3 Baths 2,029 sqft Built 1961

$308,888

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $152.24
  • 8 Days on Market
  • MLS # : 2256902
  • Updated Date : 12/21/2020 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,029 sqft
  • Baths : 3 full
Listing Agent

Show Vegas Realty

Listing Agent's Description

This a a beautiful 4 bedroom home in the historical downtown area. The home is situated on a oversized corner lot that features large spacious rooms, gorgeous hardwood floors, spacious family/gaming room with built in book shelves, granite kitchen countertops, space available to rent out, driveway leading into the backyard for additional parking, detached garage, great backyard for entertaining, and excellent natural lighting. Central part of town with great businesses in the area and close to freeway access. Roof replaced 3.5 years ago. No HOA. Dimensions deemed reliable not guaranteed.

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MARKET HIGHLIGHTS

  • 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: 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
 

$277,999$339,777$308,888

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,140
Property Tax -$113
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$212

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.

$308,888

PROJECTED PRICE

$1,650

PROJECTED RENT

0.53%

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$0.0$5.0k$10k$15k$20k

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$87,605

INVESTMENT

$87,605

Down Payment
$77,222
Rehab Estimate
$5,750
Closing Costs
$4,633

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,222
Loan Amount $231,666
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$45,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6004$1,6505$1,690
$1,690
RENT COMPS ANALYSIS
  • 1825 Griffith Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,029 Sqft ∙ Built 1961 4 beds 3 baths ∙ 2,029 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 2013 Monterey Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,218 Sqft ∙ Built 1969 5 beds 3 baths ∙ 2,218 Sqft ∙ Built 1969
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 1406 Bonita Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1960
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 1501 South 11th Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1944
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 1805 16th Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,109 Sqft ∙ Built 1959
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.80
    •  
PROPERTY LISTING DETAILS
Hermann M Brumm
1.904.625.8700
Show Vegas Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256902
Last Updated: 12/21/2020
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