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1942 Barrel Oak Ave Avenue North Las Vegas, NV 89031

4 Beds 3 Baths 1,984 sqft Built 2007

$310,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $156.25
  • 3 Days on Market
  • MLS # : 2260427
  • Updated Date : 01/09/2021 at 16:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,984 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group Inc

Listing Agent's Description

MUST SEE!!! CHECK IT OUT BEFORE YOU MISS IT!! FRESH 2 TONE PAINT THROUGH OUT INTERIOR!! 2 FAMILY ROOMS!! OPEN FLOOR PLAN!! 4 BEDROOMS!! WALK-IN CLOSET!! DUEL SINKS! LOW MAINTENANCE BACKYARD!!

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Mojave High School High Regular 2,311 103 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,077
Property Tax -$252
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$137

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$310,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$32,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,627

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1942 Barrel Oak Ave Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 5428 Pipers Stone Street North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 2006
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 1833 Bayhurst North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 1841 Arrow Stone Court #0 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,859 Sqft ∙ Built 2005
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 5448 Pipers Stone Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,984 Sqft ∙ Built 2006
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
PROPERTY LISTING DETAILS
Idy Tagama Jr
1.702.703.2002
Realty One Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260427
Last Updated: 01/09/2021
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