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2020 Griffith Avenue Las Vegas, NV 89104

3 Beds 1 Baths 1,103 sqft Built 1953

$279,999

List Price

$960

$864 - $1.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1953
  • Price/Sqft : $253.85
  • 2 Days on Market
  • MLS # : 2247994
  • Updated Date : 11/14/2020 at 13:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,103 sqft
  • Baths : 1 full
Listing Agent

First Full Service Realty

Listing Agent's Description

Great opportunity to be near all downtown Las Vegas has to offer! Highly sought after vintage Vegas area just on the cusp of the Arts District, Huntridge neighborhood & the Downtown Redevelopment Area. Newer kitchen with granite countertops, ac, roof and fresh paint throughout! Updated electric panel. New windows on front. Large backyard waiting for a new owners personal touch. No carpet, all tile and laminate flooring throughout. Very spacious property waiting for a new owner to make it home!

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: Crestwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k296k

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

Neighborhood: Crestwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9141603

* 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
Crestwood Elementary School Primary Regular 679 44 4
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

Crestwood Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 44
4
GreatSchools Rating

John C. Fremont Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 41
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$251,999$307,999$279,999

PURCHASE PRICE

$864$1,056$960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $960
EXPENSES Loan Payment -$1,033
Property Tax -$85
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$326

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.

$279,999

PROJECTED PRICE

$960

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.8%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $209,999
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $960

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $957

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9603$9954$1,0005$1,175
$1,175
RENT COMPS ANALYSIS
  • 2020 Griffith Avenue Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,103 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,103 Sqft ∙ Built 1953
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $960
    • $0.87
    •  
  • 2104 Chapman Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 975 Sqft ∙ Built 1956 3 beds 1 baths ∙ 975 Sqft ∙ Built 1956
    property image
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.87
    •  
  • 2214 Marlin Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,203 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,203 Sqft ∙ Built 1954
    property image
    LEASED 07/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.83
    •  
  • 2305 Berkley Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 1953
    property image
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.90
    •  
  • 377 14th Street Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,353 Sqft ∙ Built 1948 3 beds 1 baths ∙ 1,353 Sqft ∙ Built 1948
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.87
    •  
PROPERTY LISTING DETAILS
Crystal L Wilson
1.702.595.6571
First Full Service Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247994
Last Updated: 11/14/2020
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