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1930 Continental Avenue Las Vegas, NV 89156

4 Beds 1 Baths 1,472 sqft Built 1980

$260,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $176.63
  • 5 Days on Market
  • MLS # : 2243531
  • Updated Date : 11/02/2020 at 10:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,472 sqft
  • Baths : 1 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*NO HOA IS A PLUS*SPACIOUS ONE STORY HOME ON LARGE LOT*SPACIOUS TWO CAR GARAGE WITH AMPLE PARKING AND STORAGE/GARAGE WITH ATTIC FOR AMPLE STORAGE*RV GATE & PARKING WITH COVERED CARPORT*KITCHEN WITH GRANITE, GARDEN WINDOW, AMPLE CABINET SPACE, BREAKFAST BAR*SPACIOUS BEDROOMS*MASTER BATH WITH STAND UP SHOWER*GRANITE IN BATHROOM*HALLWAY WITH EXTRA STORAGE CLOSET*NEW WATER HEATER*NEW GARBAGE DISPOSAL*HUGE SHED IN BACKYARD*

SEE MORE

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: Lake Mead Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Lake Mead Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8791603

* 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
Mountain View Elementary School Primary Regular 531 31 2
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 31
2
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$959
Property Tax -$121
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$95

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.

$260,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$28,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,310

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,3504$1,3505$1,535
$1,535
RENT COMPS ANALYSIS
  • 1930 Continental Avenue Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,472 Sqft ∙ Built 1980 4 beds 1 baths ∙ 1,472 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 6201 East Lake Mead Bl Boulevard #251 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1997
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.83
    •  
  • 6023 Notre Dame Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,406 Sqft ∙ Built 1999
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.89
    •  
  • 5812 Dew Mist Lane #na Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,527 Sqft ∙ Built 1998 3 beds 1 baths ∙ 1,527 Sqft ∙ Built 1998
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 1333 Anastasia Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1999
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.96
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243531
Last Updated: 11/02/2020
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