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1886 Neoga Street Las Vegas, NV 89115

4 Beds 2 Baths 1,782 sqft Built 2019

$290,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $162.74
  • 9 Days on Market
  • MLS # : 2265624
  • Updated Date : 02/07/2021 at 01:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,782 sqft
  • Baths : 2 full
Listing Agent

King Realty Group

Listing Agent's Description

Move In ready!!!! **4 beds!!!**Single story home with great open floorplan** Only 2 years old*Open kitchen with granite countertops walk in pantry and beautiful cabintes overlook the living dining area -matching black appliances espresso cabinets finish out this chef's delight**Matching granite counter tops and cabinets thru out the bathrooms and kitchen**Carpets professionally cleaned for you!!**Good sized back yard has a covered patio for the morning sun ** seller put in a brick flowerbed on side yard ** tons of parking in this community ** Solar panels round out this home for amazing power bills **

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: 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
Ruben Diaz Elementary School Primary Regular 794 45 4
Mario C And Joanne Monaco Middle School Middle Regular 1,426 53 NA
Sunrise Mountain High School High Regular 2,526 113 2

Ruben Diaz Elementary School

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 45
4
GreatSchools Rating

Mario C And Joanne Monaco Middle School

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

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,007
Property Tax -$213
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$279

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.

$290,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.58%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$43,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3454$1,3505$1,680
$1,680
RENT COMPS ANALYSIS
  • 1886 Neoga Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,782 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.94
    •  
  • 4313 Stockbridge Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,526 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,526 Sqft ∙ Built 2002
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 4525 Coronado Hills Way Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1999
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 1622 Victor Hugo Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,752 Sqft ∙ Built 2006
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.77
    •  
  • 4357 Pittsfield Street #0 Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,526 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,526 Sqft ∙ Built 2003
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
PROPERTY LISTING DETAILS
Conner L Sheets
1.702.349.8920
King Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265624
Last Updated: 02/07/2021
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