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2353 Mallard Street Las Vegas, NV 89108

3 Beds 1 Baths 1,036 sqft Built 1972

$249,999

List Price

$1,030

$927 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $241.31
  • 2 Days on Market
  • MLS # : 2280300
  • Updated Date : 03/20/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,036 sqft
  • Baths : 1 full
Listing Agent

Resolution Realty

Listing Agent's Description

Stunning, move-in ready home located on large corner lot. Large yard! Granite countertops, tile and wood floor throughout. All appliances & sheds included.

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Bertha Ronzone Elementary School Primary Regular 953 54 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Bertha Ronzone Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 54
2
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$224,999$274,999$249,999

PURCHASE PRICE

$927$1,133$1,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,030
EXPENSES Loan Payment -$868
Property Tax -$99
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$104

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.

$249,999

PROJECTED PRICE

$1,030

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,618

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,030

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $909

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,030
1$1,0302$1,0993$1,1004$1,1505$1,195
$1,195
RENT COMPS ANALYSIS
  • 2353 Mallard Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,036 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,036 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,030
    • $0.99
    •  
  • 5722 West Lake Mead Boulevard #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $0.88
    •  
  • 3221 Terra Bella Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 1986
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.91
    •  
  • 6308 Portola Road Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1976
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.85
    •  
  • 4616 Mark Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,372 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,372 Sqft ∙ Built 1972
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.87
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280300
Last Updated: 03/20/2021
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