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2024 University Circle Las Vegas, NV 89119

4 Beds 4 Baths 3,067 sqft Built 1973

$360,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1973
  • Price/Sqft : $117.38
  • 3 Days on Market
  • MLS # : 2246459
  • Updated Date : 11/06/2020 at 15:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,067 sqft
  • Baths : 3 full , 1 half
Listing Agent

Engel & Volkers Las Vegas

Listing Agent's Description

Spacious cul-du-sac home in the heart of Las Vegas! Remodeled and move-in ready, this four bedroom, three-and-a-half bath pool home has lots of space, with mutilple rooms, a central kitchen with nook, a built-in bar, back patio, open back yard and more! Ready to close. Just need your offer.

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: 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
Lewis E. Rowe Elementary School Primary Regular 657 39 6
William E. Orr Middle School Middle Regular 933 36 NA
Del Sol High School High Regular 2,051 73 2

Lewis E. Rowe Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 39
6
GreatSchools Rating

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,328
Property Tax -$206
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
$530

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.

$360,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

13.17

YEARS SAVED

$87,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,316

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,099
1$2,0992$2,1503$2,1704$2,2705$2,700
$2,700
RENT COMPS ANALYSIS
  • 2024 University Circle Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,067 Sqft ∙ Built 1973 4 beds 4 baths ∙ 3,067 Sqft ∙ Built 1973
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.74
    •  
  • 2043 Mohigan Way Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,731 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,731 Sqft ∙ Built 1970
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.77
    •  
  • 3689 Crestview Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 1977
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.76
    •  
  • 3377 Dakota Way Las Vegas, NV 3
    • 4 beds 2 baths ∙ 3,165 Sqft ∙ Built 1962 4 beds 2 baths ∙ 3,165 Sqft ∙ Built 1962
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.69
    •  
  • 1625 Santa Anita Drive Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,392 Sqft ∙ Built 1965 5 beds 3 baths ∙ 3,392 Sqft ∙ Built 1965
    LEASED 07/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.80
    •  
PROPERTY LISTING DETAILS
Stephen Carns
1.805.218.0633
Engel & Volkers Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246459
Last Updated: 11/06/2020
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