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2885 Bronco Street Las Vegas, NV 89108

3 Beds 3 Baths 2,772 sqft Built 1992

$599,999

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $216.45
  • 6 Days on Market
  • MLS # : 2268675
  • Updated Date : 02/13/2021 at 02:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,772 sqft
  • Baths : 2 full , 1 half
Listing Agent

Impress Realty Llc

Listing Agent's Description

STUNNING CUSTOM-BUILT HOME FEATURING: HUGE HALF ACRE LOT, NEWLY RE-SURFACED SPARKLING POOL, COVERED PATIO,3 CAR GARAGE, NO HOA, HIGHLY DESIRABLE NW PART OF LAS VEGAS, HUGE MASTER BEDROOM WITH FIREPLACE, BUILT IN STORAGE, CLOSE TO 95 AND I-15 FREEWAYS, CHARMING NEIGHBORHOOD OF CUSTOM-BUILT HOMES. HURRY THIS GREAT PROPERTY WILL GO FAST!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
Berkley Bunker Elementary School Primary Regular 746 39 4
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cimarron Memorial High School High Regular 2,541 102 3

Berkley Bunker Elementary School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 39
4
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cimarron Memorial High School

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

$539,999$659,999$599,999

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$2,084
Property Tax -$287
Property Insurance -$81
Property Management Fees -$119
CASH FLOW
-$651

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.

$599,999

PROJECTED PRICE

$1,920

PROJECTED RENT

0.32%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

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$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $449,999
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,933

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7954$1,9205$1,995
$1,995
RENT COMPS ANALYSIS
  • 2885 Bronco Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,772 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.69
    •  
  • 4405 Sparta Way North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,431 Sqft ∙ Built 1991
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.70
    •  
  • 7624 Delaware Bay Drive Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 1989
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 7620 Genesis Court #n/a Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 1990
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.67
    •  
  • 3416 North Tenaya Way #0 Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 1989
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
PROPERTY LISTING DETAILS
Susan L Marlowe
1.702.301.4869
Impress Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268675
Last Updated: 02/13/2021
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