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2335 Buffalo Run Avenue Las Vegas, NV 89123

3 Beds 3 Baths 1,696 sqft Built 2002

$310,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $182.78
  • 8 Days on Market
  • MLS # : 2279905
  • Updated Date : 03/23/2021 at 20:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full , 1 half
Listing Agent

Deven Singh

Listing Agent's Description

Nice home in a gated community, kitchen overlooks the family room with gas fireplace, granite kitchen counter, all bedrooms are upstairs with little loft area. big master bedroom with walk in closet. ceiling fans on all bedrooms. Located within 5-10n minutes to the airport and strip.

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,077
Property Tax -$194
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$80

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.

$310,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$200k$400k$600k$800k$1.0M$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$27,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,526

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5503$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 2335 Buffalo Run Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,696 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.90
    •  
  • 2314 Crooked Creek Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2002
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.84
    •  
  • 2204 Buffalo Run Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2000
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 7675 Borealis Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2003
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 7518 Luna Del Rey Street #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,846 Sqft ∙ Built 2002
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Deven Singh
1.702.525.9032
Deven Singh
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279905
Last Updated: 03/23/2021
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