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2276 Colebrook Street Las Vegas, NV 89115

3 Beds 2 Baths 1,056 sqft Built 1970

$254,995

List Price

$1,080

$972 - $1.2K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $241.47
  • 5 Days on Market
  • MLS # : 2269410
  • Updated Date : 02/12/2021 at 20:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,056 sqft
  • Baths : 2 full
Listing Agent

Select Properties Group

Listing Agent's Description

RENOVATED SINGLE STORY 3 BEDROOM 2 BATHROOM HOME WITH POTENTIAL RV PARKING.BRAND NEW WHITE SHAKER CABINETS PAIRED WITH BLACK CABINET PULLS. STAINLESS STEEL APPLIANCES. STAINEESS STEEL DOUBLE KITCHEN SINK. FRESHLY PAINTED INTERIOR AND EXTERIOR.QUARTS COUNTERTOPS.TILED SHOWER.ALL NEW VINYL WOOD LIKE FLOORING. NEW BASEBOARDS.NEW SHOWERS AND NEW VANITIES. ALL NEW HARDWARE AND FIXTURES. LARGE OPEN SPACE BACKYARD. AND MUCH MORE!

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

Neighborhood: Frontier North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $62k296k

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

Neighborhood: Frontier North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7901603

* 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
Ann Lynch Elementary School Primary Regular 720 37 1
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Ann Lynch Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 37
1
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$229,496$280,495$254,995

PURCHASE PRICE

$972$1,188$1,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,080
EXPENSES Loan Payment -$886
Property Tax -$74
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$47

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.

$254,995

PROJECTED PRICE

$1,080

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.6%
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$73,324

INVESTMENT

$73,324

Down Payment
$63,749
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,749
Loan Amount $191,246
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,080

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $919

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$900
1$9002$9953$1,0504$1,0805$1,095
$1,095
RENT COMPS ANALYSIS
  • 2276 Colebrook Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,056 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,056 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,080
    • $1.02
    •  
  • 2330 Dolly #b Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 1984
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.89
    •  
  • 3700 Nelson Avenue Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,200 Sqft ∙ Built 1968
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.83
    •  
  • 3736 Lone Oak Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,196 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,196 Sqft ∙ Built 1980
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.88
    •  
  • 3769 Carlyle Drive #68 Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,239 Sqft ∙ Built 1984
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.88
    •  
PROPERTY LISTING DETAILS
Avraham Metal
1.347.693.6400
Select Properties Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269410
Last Updated: 02/12/2021
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