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254 Casoria Avenue Las Vegas, NV 89123

4 Beds 3 Baths 2,321 sqft Built 2000

$447,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $192.59
  • 10 Days on Market
  • MLS # : 2244566
  • Updated Date : 11/04/2020 at 08:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,321 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

*BEAUTIFUL ONE STORY HOME LOCATED IN SILVERADO RANCH*4 BEDROOM 2.5 BATHROOM*3 CAR GARAGE*BUILT IN CABINETS IN GARAGE*LOW MAINTENANCE DESERT LANDSCAPING*LOCATED ON OVERSIZED CORNER LOT*GREAT CURB APPEAL*OPEN AND AIRY FLOOR PLAN*VAULTED CEILINGS*TONS OF NATURAL LIGHTING*BEAUTIFUL UPGRADED GRANITE COUNTERTOPS WITH ISLAND AND BREAKFAST BAR*LARGE PANTRY*SPACIOUS LIVING AND FAMILY ROOM WITH GAS FIREPLACE*LARGE SPACIOUS MASTER BEDROOM WITH SLIDING GLASS DOOR FOR ACCESS TO BACKYARD*SEPARATE TUB AND SHOWER WITH DOUBLE SINKS IN MASTER BATH*WALK IN CLOSET*4TH BEDROOM WITH BUILT IN MURPHY BED AND BUILT IN SHELVES*CEILING FANS*SPACIOUS BACKYARD WITH GRASS AND 2 LARGE STUCCO COVERED PATIOS WITH CEILING FANS*DECORATIVE BLOCK PLANTER*CLOSE PROXIMITY TO MULTIPLE PARKS*LOCATED NEAR STRIP AND AIRPORT*NEW AC AND HVAC*

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

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
John R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Liberty High School High Regular 2,496 105 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
GreatSchools Rating

Jack L. Schofield Middle School

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

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$402,300$491,700$447,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,649
Property Tax -$280
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$180

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.

$447,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,205

INVESTMENT

$124,205

Down Payment
$111,750
Rehab Estimate
$5,750
Closing Costs
$6,705

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,649

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $111,750
Loan Amount $335,250
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$19,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8654$1,9405$2,295
$2,295
RENT COMPS ANALYSIS
  • 254 Casoria Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.84
    •  
  • 9143 Penn Station Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,211 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,211 Sqft ∙ Built 2001
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 170 Woolman Rink Avenue #0 Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2002
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 9153 Black Slate Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,122 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,122 Sqft ∙ Built 1998
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.88
    •  
  • 159 Skipping Stone Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,384 Sqft ∙ Built 1997
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.96
    •  
PROPERTY LISTING DETAILS
Richard J Brenkus
1.702.456.5959
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244566
Last Updated: 11/04/2020
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