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2213 El Greco Street Las Vegas, NV 89102

3 Beds 2 Baths 1,905 sqft Built 1964

INVESTimate

$325,000

List Price

$1,580

$1,422 - $1,738

Rent Est.

$368,453  ( +13.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1964
  • Price/Sqft : $170.60
  • 4 Days on Market
  • MLS # : 2224627
  • Updated Date : 08/25/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,905 sqft
  • Baths : 2 full
Listing Agent

Century 21 Americana

Listing Agent's Description

Home is move-in ready! Great two story home located minutes away from the strip and Springs Preserve! Interior boast designer selected two tone paint scheme, large tile flooring, and a dazzling lighting package! Chef's dream kitchen equipped with gorgeous quartz countertops. Luxurious cabinet hardware, and stainless-steel appliances! Backyard is perfect for entertainment with sparkling blue pool and a new installed pool heater for winter time! Priced to sell!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89102

ZipNIR 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
Vegas Verdes Elementary School Primary Regular 543 25 8
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Vegas Verdes Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
8
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,199
Property Tax -$200
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$2

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.

$325,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.37%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$22,706

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
  • $0.83

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5803$1,5954$1,7755$1,850
$1,850
RENT COMPS ANALYSIS
  • 2213 El Greco Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.83
    •  
  • 4421 Hillcrest Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1963
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 4309 San Joaquin Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1964
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 3800 San Angelo Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1963
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.94
    •  
  • 3412 El Cortez Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1973
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
PROPERTY LISTING DETAILS
Oscar A Castaneda
1.702.401.9132
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224627
Last Updated: 08/25/2020
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