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2813 Howard Drive Las Vegas, NV 89104

4 Beds 2 Baths 1,257 sqft Built 1957

$249,999

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1957
  • Price/Sqft : $198.89
  • 11 Days on Market
  • MLS # : 2242241
  • Updated Date : 11/02/2020 at 12:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,257 sqft
  • Baths : 2 full
Listing Agent

Precision Realty

Listing Agent's Description

Cozy single story home with 4 bedrooms, 2 baths, oversized 3 car driveway, and covered patio! Home has been completely remodeled with upgrades from top to bottom. Stunning kitchen featuring brand new shaker cabinets, quartz counters, upgraded fixtures and ss appliances! Bathrooms have been remodeled with custom tiled showers and flooring, high end vanities, and more! Huge attached storage room that can function as a one car garage. Don't miss out on this opportunity!

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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

Neighborhood: Dawson Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $66k296k

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

Neighborhood: Dawson Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8601603

* 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
Crestwood Elementary School Primary Regular 679 44 4
K O Knudson Junior High School Middle Magnet 1,362 61 NA
Valley High School High Magnet 2,826 123 2

Crestwood Elementary School

  • Education Level: Primary
  • # of students: 679
  • # of teachers: 44
4
GreatSchools Rating

K O Knudson Junior High School

  • Education Level: Middle
  • # of students: 1,362
  • # of teachers: 61
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$922
Property Tax -$68
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$21

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

$1,140

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.9%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$17,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$9953$1,0004$1,1405$1,300
$1,300
RENT COMPS ANALYSIS
  • 2813 Howard Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,257 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,257 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.91
    •  
  • 2104 Chapman Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 975 Sqft ∙ Built 1956 3 beds 1 baths ∙ 975 Sqft ∙ Built 1956
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.87
    •  
  • 2214 Marlin Avenue Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,203 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,203 Sqft ∙ Built 1954
    LEASED 07/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.83
    •  
  • 2305 Berkley Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 1953 3 beds 2 baths ∙ 1,108 Sqft ∙ Built 1953
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.90
    •  
  • 3169 Westfield Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1964
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242241
Last Updated: 11/02/2020
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