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2130 Buffalo Drive Las Vegas, NV 89117

6 Beds 3 Baths 4,832 sqft Built 1983

$794,000

List Price

$3,610

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $164.32
  • 3 Days on Market
  • MLS # : 2252061
  • Updated Date : 12/04/2020 at 18:30
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,832 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

WOW! Amazing Near Half Acre Lot Home, Many Major Upgrades (Kitchen, Cabinets, Flooring, Painting, Land Scape...), Location Location Location, Near all Major Shopping, Dining, Schools, Parks, Services, Sport Centers & 10 Min to the Central pf the "STRIP", Pool & Spa, 6 Bedrooms & more... NO HOA, Currently Lease for: $7000 per month, Furniture & Accessories can be include in the sale - Contact Guy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$714,600$873,400$794,000

PURCHASE PRICE

$3,249$3,971$3,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,610
EXPENSES Loan Payment -$2,930
Property Tax -$421
Property Insurance -$121
Property Management Fees -$119
CASH FLOW
$20

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.

$794,000

PROJECTED PRICE

$3,610

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$216,160

INVESTMENT

$216,160

Down Payment
$198,500
Rehab Estimate
$5,750
Closing Costs
$11,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,930

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $198,500
Loan Amount $595,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$65,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,610

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,640

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$3,5003$3,6104$4,500
$4,500
RENT COMPS ANALYSIS
  • 2130 Buffalo Drive Las Vegas, NV 3
    • 6 beds 3 baths ∙ 4,832 Sqft ∙ Built 1983 6 beds 3 baths ∙ 4,832 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,610
    • $0.75
    •  
  • 3103 Azure Bay Street Las Vegas, NV 1
    • 6 beds 4 baths ∙ 4,658 Sqft ∙ Built 2001 6 beds 4 baths ∙ 4,658 Sqft ∙ Built 2001
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.53
    •  
  • 2944 Imperial Purple Court Las Vegas, NV 2
    • 6 beds 4 baths ∙ 4,658 Sqft ∙ Built 2000 6 beds 4 baths ∙ 4,658 Sqft ∙ Built 2000
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.75
    •  
  • 1870 Columbia Crest Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 4,609 Sqft ∙ Built 1999 5 beds 3 baths ∙ 4,609 Sqft ∙ Built 1999
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Anat Meged
1.702.417.9003
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252061
Last Updated: 12/04/2020
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