Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2617 La Mata Street Las Vegas, NV 89108

3 Beds 3 Baths 1,469 sqft Built 2003

$265,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $180.39
  • 3 Days on Market
  • MLS # : 2260547
  • Updated Date : 01/10/2021 at 05:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,469 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Americana

Listing Agent's Description

INVESTORS DREAM!!! GORGEOUS TWO STORY HOME LOCATED IN THE MADRE MESA SOUTH COMMUNITY. THIS HOME FEATURES 3 BEDROOMS, 2 FULL BATHS, 1 HALF BATH AND 2 CAR GARAGE. LARGE MASTER BEDROOM SEPARATE FROM OTHER ROOMS, TILE FLOORING THROUGHOUT. EASY TO MAINTAIN DESERT LANDSCAPED FRONT AND BACK YARD. HOME IS WITHIN MINUTES TO MAJOR SHOPPING CENTER, SCHOOLS, AND ENTERTAINMENT AREAS. HURRY HOME WONT LAST LONG!

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

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
Doris M. Reed Elementary School Primary Regular 564 31 1
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Doris M. Reed Elementary School

  • Education Level: Primary
  • # of students: 564
  • # of teachers: 31
1
GreatSchools Rating

J. Harold Brinley Middle School

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

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$920
Property Tax -$186
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$139

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.

$265,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.54%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$27,388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,293

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3003$1,3004$1,4005$1,420
$1,420
RENT COMPS ANALYSIS
  • 2617 La Mata Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,469 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,469 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.97
    •  
  • 5048 Sublight Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1999
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.83
    •  
  • 5323 Estornino Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 2002
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
  • 5001 Starfinder Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,534 Sqft ∙ Built 1997
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.85
    •  
  • 5309 Meadows Lilly Avenue #0 Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 2000
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tina M Haugen
1.702.285.2377
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260547
Last Updated: 01/10/2021
BESbswy