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1848 Molly Meadows Street Las Vegas, NV 89115

3 Beds 3 Baths 1,195 sqft Built 2018

$235,000

List Price

$1,050

$945 - $1.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $196.65
  • 3 Days on Market
  • MLS # : 2246458
  • Updated Date : 11/07/2020 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,195 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

This home is a stunning move-in ready 3/3, with a gorgeous kitchen. Ceiling fans in every room, and a covered patio ready for your enjoyment. Welcome Home!

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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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Manuele J. Cortez Elementary School Primary Regular 871 44 4
Mario C And Joanne Monaco Middle School Middle Regular 1,426 53 NA
Desert Pines High School High Regular 2,279 99 1

Manuele J. Cortez Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 44
4
GreatSchools Rating

Mario C And Joanne Monaco Middle School

  • Education Level: Middle
  • # of students: 1,426
  • # of teachers: 53
NA
GreatSchools Rating

Desert Pines High School

  • Education Level: High
  • # of students: 2,279
  • # of teachers: 99
1
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$945$1,155$1,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,050
EXPENSES Loan Payment -$867
Property Tax -$173
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
-$159

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.

$235,000

PROJECTED PRICE

$1,050

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,050

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,046

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,1503$1,1754$1,1755$1,195
$1,195
RENT COMPS ANALYSIS
  • 1848 Molly Meadows Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,195 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.88
    •  
  • 2111 Lost Maple Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,310 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,310 Sqft ∙ Built 2004
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.88
    •  
  • 3710 Spiritual Way #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2006
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.86
    •  
  • 4312 Wyndham Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2002
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.87
    •  
  • 1825 Luna Alegre Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2007
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.336.9249
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246458
Last Updated: 11/07/2020
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