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224 Kane Avenue Las Vegas, NV 89110

4 Beds 1 Baths 1,290 sqft Built 1981

$245,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $189.92
  • 6 Days on Market
  • MLS # : 2242488
  • Updated Date : 10/31/2020 at 09:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,290 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Great single story home with 4 bedrooms, 2 bath on a huge private lot! This charming home features large open concept living, dining room, kitchen has breakfast bar, renovated bathrooms, newer windows, crown molding throughout the house, huge covered patio, fully fenced property. NO HOA! This home will not last long!

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: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $65k296k

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

Neighborhood: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8541603

* 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
Charlotte And Jerry Keller Elementary School Primary Regular 732 41 4
Charlotte And Jerry Keller Elementary School Middle Regular 732 41 4
Las Vegas High School High Regular 3,077 121 4

Charlotte And Jerry Keller Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 41
4
GreatSchools Rating

Charlotte And Jerry Keller Elementary School

  • Education Level: Middle
  • # of students: 732
  • # of teachers: 41
4
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$904
Property Tax -$124
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$29

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.

$245,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.9%
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

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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$15,148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,193

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1003$1,1504$1,1705$1,265
$1,265
RENT COMPS ANALYSIS
  • 224 Kane Avenue Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,290 Sqft ∙ Built 1981 4 beds 1 baths ∙ 1,290 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.91
    •  
  • 551 Roxella Lane #a Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,132 Sqft ∙ Built 1997
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.97
    •  
  • 1300 Arlington Street #202 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 1300 Arlington Street #103 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,228 Sqft ∙ Built 1998
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 112 Romero Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jillian M Batchelor
1.702.595.8036
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242488
Last Updated: 10/31/2020
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