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1939 Salvation Street Las Vegas, NV 89115

3 Beds 3 Baths 1,555 sqft Built 2006

$235,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $151.13
  • 5 Days on Market
  • MLS # : 2257180
  • Updated Date : 01/01/2021 at 16:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,555 sqft
  • Baths : 3 full
Listing Agent

Re/max Titans

Listing Agent's Description

This is a great home features 3 bedrooms, a cozy loft, private back yard for all your family and friends gatherings. Perfect home as your starter home or great investment opportunity. This home is close to community college, close to stores and restaurants easy access to I-15. DON'T MISS OUT IT WONT LAST LONG

SEE MORE

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: Stonybrook Homes - la Paz Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $79k296k

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

Neighborhood: Stonybrook Homes - la Paz Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8841603

* 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

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$867
Property Tax -$167
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$70

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

$1,280

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.6%
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

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$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 45% 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

6.92

YEARS SAVED

$23,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,306

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,175
1$1,1752$1,2003$1,2804$1,3005$1,345
$1,345
RENT COMPS ANALYSIS
  • 1939 Salvation Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,555 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.82
    •  
  • 3710 Spiritual Way #0 Las Vegas, NV 1
    • 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
    •  
  • 3685 Karissa Heights Place Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,482 Sqft ∙ Built 2011
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.81
    •  
  • 1829 Luna Alegre Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 2007
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 1880 Vida Pacifica Street #0 Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,622 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,622 Sqft ∙ Built 2007
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.83
    •  
PROPERTY LISTING DETAILS
Perla Y Herrera
1.702.277.4994
Re/max Titans
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257180
Last Updated: 01/01/2021
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