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208 Melon Aroma Avenue North Las Vegas, NV 89031

4 Beds 3 Baths 1,975 sqft Built 2005

$335,999

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $170.13
  • 16 Days on Market
  • MLS # : 2271645
  • Updated Date : 03/06/2021 at 19:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,975 sqft
  • Baths : 3 full
Listing Agent

Go Global Realty

Listing Agent's Description

Gorgeous house, looks like a model, freshly painted, new appliances, 4 bedrooms, game room, bedroom and bathroom downstairs, gazebo in the backyard , this is the house , you have been looking for, come take a look, you will not be disappointed.

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: Commerce Verde

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Commerce Verde

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9361603

* 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
Raul Elizondo Elementary School Primary Regular 774 42 5
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Raul Elizondo Elementary School

  • Education Level: Primary
  • # of students: 774
  • # of teachers: 42
5
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

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

$302,399$369,599$335,999

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,167
Property Tax -$256
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$27

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.

$335,999

PROJECTED PRICE

$1,580

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
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$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,790

INVESTMENT

$94,790

Down Payment
$84,000
Rehab Estimate
$5,750
Closing Costs
$5,040

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,167

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,000
Loan Amount $251,999
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$16,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5804$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 208 Melon Aroma Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,975 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.80
    •  
  • 504 Rancho Del Sol Way North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1997
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 132 West La Madre Way North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.78
    •  
  • 213 Melon Aroma Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 5020 Crying Heart Street North Las Vegas, NV 5
    • 5 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005 5 beds 2 baths ∙ 1,975 Sqft ∙ Built 2005
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
PROPERTY LISTING DETAILS
Edgar Renderos
1.702.773.6244
Go Global Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271645
Last Updated: 03/06/2021
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