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1825 Monte Alban Drive North Las Vegas, NV 89031

3 Beds 3 Baths 1,882 sqft Built 1993

$299,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1993
  • Price/Sqft : $159.35
  • 11 Days on Market
  • MLS # : 2241860
  • Updated Date : 10/27/2020 at 09:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,882 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

*Fantastic 2-story w/ 3 bedrooms and a loft! Mature and easy landscaping greet you as you make your way to the front door*Step on through and find yourself in the formal living with laminate-wood flooring/neutral paint and beautiful 2-way fireplace w/mantle*This spacious formal living area offers room for entertaining your guests and is adjacent to the formal dining room*Kitchen has tile counter/floors/breakfast bar/pantry & lots of cabinets*Convenient informal eat-in kitchen area with access to backyard through French doors*Cozy family room setting w/fireplace off the kitchen area*Laundry closet downstairs w/shelves*Upstairs you'll find a loft that could be a great toy area or extra family room*Primary bedroom is separate from secondary bedrooms and features vaulted ceiling/walk-in closet/ceiling fan and primary bathroom*Covered patio in backyard plays host to spacious area just waiting for your ideas! Shed stays and could be great craft room/man-shed/she shed or kid kave*

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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: Paseo del Norte

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Paseo del Norte

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Mojave High School High Regular 2,311 103 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,107
Property Tax -$202
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$61

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.

$299,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.4%
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-$4.0k-$2.0k$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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,501

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4953$1,5904$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 1825 Monte Alban Drive North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.76
    •  
  • 1915 Curio Drive North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1993
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 1822 Monte Alban Drive #0 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,882 Sqft ∙ Built 1993
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.84
    •  
  • 1612 Los Alamos North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1992
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 1801 Monte Alban North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,023 Sqft ∙ Built 1991
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241860
Last Updated: 10/27/2020
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