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265 Great Duke Avenue Las Vegas, NV 89183

3 Beds 4 Baths 3,451 sqft Built 1998

$620,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $179.66
  • 6 Days on Market
  • MLS # : 2258985
  • Updated Date : 01/07/2021 at 15:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,451 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

AMAZING HOME IN AN EVEN BETTER LOCATION! UPGRADES GALORE- Single story, RV Parking, Grotto-style spa, lush landscaping; all in a gated community - this home has it all! 2 minutes from the South Point casino and I-15. Less than 10 minutes from the airport and the Raider's stadium. 3 bedrooms and a den- a 3 car garage and 3.5 bathrooms make this the ideal home for everybody!!

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: 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. Hummel Elementary School Primary Regular 776 40 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John R. Hummel Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 40
7
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

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

$558,000$682,000$620,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,153
Property Tax -$381
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$88

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.

$620,000

PROJECTED PRICE

$2,660

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$32,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,873

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,6603$2,9994$3,0405$3,050
$3,050
RENT COMPS ANALYSIS
  • 265 Great Duke Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 3,451 Sqft ∙ Built 1998 3 beds 3 baths ∙ 3,451 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.77
    •  
  • 319 Ravensmere Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,274 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,274 Sqft ∙ Built 2002
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.70
    •  
  • 9739 La Cienega Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,560 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,560 Sqft ∙ Built 1998
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $0.84
    •  
  • 387 Moon Aura Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,358 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,358 Sqft ∙ Built 2016
    property image
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $0.91
    •  
  • 296 Great Duke Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 1999
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.88
    •  
PROPERTY LISTING DETAILS
Robert J Sluys
1.702.575.2821
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258985
Last Updated: 01/07/2021
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