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2113 Alhambra Circle Las Vegas, NV 89104

4 Beds 2 Baths 2,089 sqft Built 1963

$389,999

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $186.69
  • 2 Days on Market
  • MLS # : 2278389
  • Updated Date : 03/13/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,089 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

*** This home is a must see. Great foyer when you walk in leads to huge great room. Spacious kitchen with wall oven and gas cooktop. Huge primary bedroom with large secondary rooms. Has separate den with access to 4th bedroom and 3/4 bath, great for in-law suite or rental opportunity. Just replaced furnace and repainted pool. POOL IS HUGE!! Great for family gatherings. Also has shed/storage that can easily be used as pool house or extra living space. All that and still plenty of yard space to entertain! Pull into the circle driveway upfront or long driveway with space for RV parking! Amazing home great for large families, multi-gen or even rental opportunity. Book your appointment to see this 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: Southridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Southridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John S. Park Elementary School Primary Regular 852 46 3
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

John S. Park Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 46
3
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
 

$350,999$428,999$389,999

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,355
Property Tax -$165
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$166

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.

$389,999

PROJECTED PRICE

$1,540

PROJECTED RENT

0.39%

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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5403$1,5504$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 2113 Alhambra Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 1963 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.74
    •  
  • 1809 South 8th Street #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,215 Sqft ∙ Built 1954 3 beds 2 baths ∙ 2,215 Sqft ∙ Built 1954
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.65
    •  
  • 1406 Bonita Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 1960
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 850 Tam O Shanter Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1969 3 beds 3 baths ∙ 1,956 Sqft ∙ Built 1969
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 658 Tam O Shanter Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1969 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 1969
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
PROPERTY LISTING DETAILS
Brian Frias-esparza
1.702.324.6740
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278389
Last Updated: 03/13/2021
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