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1901 Fontenelle Street Las Vegas, NV 89102

3 Beds 2 Baths 1,725 sqft Built 1964

$308,888

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $179.07
  • 4 Days on Market
  • MLS # : 2260048
  • Updated Date : 01/08/2021 at 23:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,725 sqft
  • Baths : 2 full
Listing Agent

Anchor One Real Estate

Listing Agent's Description

The perfect starter home newly remodeled this one will NOT LAST! Location Location Location! Centrally located and close to EVERYTHING- shopping, freeways, hospitals, etc.! Plenty of space in this 3 bedroom 2 bath dual family room single story home. New flooring, remodeled bathrooms, fresh paint, and little extras here and there! Garage conversion boast large additional living area perfect for a theater room, gym, studio, or whatever you can dream up! Large backyard with 2 storage sheds, plenty of privacy, fire pit and low maintenance landscaping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89102

ZipNIR 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
Vegas Verdes Elementary School Primary Regular 543 25 8
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Vegas Verdes Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
8
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,073
Property Tax -$121
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$36

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

$1,410

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,073

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,222
Loan Amount $231,666
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$21,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4503$1,4504$1,4955$1,775
$1,775
RENT COMPS ANALYSIS
  • 1901 Fontenelle Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.82
    •  
  • 4109 Via Olivero Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 1961
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 4424 Hillcrest Avenue Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,725 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,725 Sqft ∙ Built 1963
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 4421 Hillcrest Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1963
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 3800 San Angelo Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1963
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michael L Zuliani
1.702.501.2655
Anchor One Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260048
Last Updated: 01/08/2021
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