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2108 Conchita Street Las Vegas, NV 89108

3 Beds 2 Baths 1,044 sqft Built 1979

$225,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $215.52
  • 6 Days on Market
  • MLS # : 2254379
  • Updated Date : 12/08/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,044 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Lots of potential in this single story, 3 bed, 2 bath, 2 car garage home. the backyard features a great awning and access through the side gate are. From the kitchen you can see the entire living room and a beautiful accent wall featuring a wood burning fireplace. Staying with the open concept theme you can enter any of the 3 bedrooms or the guest bath. Just after entering the primary bedroom you'll see a great primary bathroom suite. This property is ready for your personal touch and fixer upper skills.

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Bertha Ronzone Elementary School Primary Regular 953 54 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Bertha Ronzone Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 54
2
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$830
Property Tax -$101
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
$13

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.

$225,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$17,736

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $947

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,0953$1,1104$1,1255$1,195
$1,195
RENT COMPS ANALYSIS
  • 2108 Conchita Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,044 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,044 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $1.06
    •  
  • 2306 Maverick Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.91
    •  
  • 1900 Torrey Pines Drive #210 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1995
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.89
    •  
  • 1900 Torrey Pines Drive #111 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1995
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,125
    • $0.92
    •  
  • 6588 Woodsworth Avenue Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,315 Sqft ∙ Built 1997
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.91
    •  
PROPERTY LISTING DETAILS
Mason Hoopes
1.702.556.3413
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254379
Last Updated: 12/08/2020
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