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1996 Mount Carmel Avenue Las Vegas, NV 89123

3 Beds 2 Baths 1,520 sqft Built 1995

INVESTimate

$309,000

List Price

$1,420

$1,278 - $1,562

Rent Est.

$337,953  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $203.29
  • 3 Days on Market
  • MLS # : 2222557
  • Updated Date : 08/24/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Souza10 Real Estate

Listing Agent's Description

NO HOA! Single story home with 3 bedrooms and 2 full baths! 2 car garage. Popular south facing exposure!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Aggie Roberts Elementary School Primary Regular 805 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Aggie Roberts Elementary School

  • Education Level: Primary
  • # of students: 805
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$278,100$339,900$309,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

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$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,140
Property Tax -$182
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$78

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.

$309,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,635

INVESTMENT

$87,635

Down Payment
$77,250
Rehab Estimate
$5,750
Closing Costs
$4,635

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,250
Loan Amount $231,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$17,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,562

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,6003$1,6004$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 1996 Mount Carmel Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.93
    •  
  • 1665 Framingham Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2004
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 8274 Bedford Valley Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2004
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 1908 Golden Horizon Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1993
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.10
    •  
  • 8327 Belmont Valley Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 2004
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jim Souza
1.702.529.0402
Souza10 Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222557
Last Updated: 08/24/2020
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