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2008 Birch Street Las Vegas, NV 89102

3 Beds 3 Baths 2,208 sqft Built 1962

$449,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $203.35
  • 5 Days on Market
  • MLS # : 2257564
  • Updated Date : 12/24/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,208 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Lush resort living in the vintage neighborhood of Glen Heather Estates, adjacent to the Arts and Medical District. On more than a quarter acre with sprawling oversized backyard, featuring a brick fire pit, pool and relaxing spa. Views of the strip and lights of the Strat hotel complete the ambiance while keeping the vintage charm. Minutes to downtown, the Strip, Raiders stadium, and the airport.

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: Glen Heather Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $111k316k

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

Neighborhood: Glen Heather Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650Rent in $10761650

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$404,100$493,900$449,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,657
Property Tax -$271
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$33

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.

$449,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.9%
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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$39,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,175

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,0003$2,1504$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 2008 Birch Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 1962 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 1962
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 3321 Plaza Del Paz Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,343 Sqft ∙ Built 1976
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.85
    •  
  • 2901 Burton Avenue #na Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1961
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 2128 Glen Heather Way Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,024 Sqft ∙ Built 1962
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.16
    •  
  • 3325 Plaza Del Paz Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,342 Sqft ∙ Built 1976 3 beds 3 baths ∙ 2,342 Sqft ∙ Built 1976
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jason M Abrams
1.702.683.1800
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257564
Last Updated: 12/24/2020
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