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1932 King Hill Street Las Vegas, NV 89106

2 Beds 2 Baths 952 sqft Built 1996

$210,000

List Price

$1,010

$909 - $1.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $220.59
  • 14 Days on Market
  • MLS # : 2248648
  • Updated Date : 11/26/2020 at 15:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 952 sqft
  • Baths : 2 full
Listing Agent

Gk Properties

Listing Agent's Description

Charming single story home located in a well-maintained gated community! This property features 2 bedrooms and 2 bathrooms with a vaulted ceiling in the family room, neutral tone paint, and laminate and tile flooring throughout. The kitchen has a gas stove, laminate countertops, and tile backsplash. Walk into the backyard which features desert landscaping and a covered patio.

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: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

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

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8971603

* 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
Ollie Detwiler Elementary School Primary Regular 733 41 1
West Preparatory Instititute School For Academic Excellence Middle Regular 1,353 64 7
West Preparatory Instititute School For Academic Excellence High Regular 1,353 64 7

Ollie Detwiler Elementary School

  • Education Level: Primary
  • # of students: 733
  • # of teachers: 41
1
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$775
Property Tax -$128
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
-$57

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.

$210,000

PROJECTED PRICE

$1,010

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,175

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,009

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,010
1$1,0102$1,1003$1,1004$1,1505$1,185
$1,185
RENT COMPS ANALYSIS
  • 1932 King Hill Street Las Vegas, NV 1
    • 2 beds 2 baths ∙ 952 Sqft ∙ Built 1996 2 beds 2 baths ∙ 952 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $1.06
    •  
  • 1836 Star Sapphire Court Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,028 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,028 Sqft ∙ Built 1998
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.07
    •  
  • 1953 Sangallo Street #107 Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,113 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,113 Sqft ∙ Built 1999
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.99
    •  
  • 2501 Duck Arrow Circle Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993 2 beds 2 baths ∙ 1,091 Sqft ∙ Built 1993
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.05
    •  
  • 2018 Thunder Storm Avenue North Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,052 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,052 Sqft ∙ Built 2001
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,185
    • $1.13
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248648
Last Updated: 11/26/2020
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