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2900 Mason Avenue Las Vegas, NV 89102

4 Beds 3 Baths 3,340 sqft Built 1964

$679,900

List Price

$2,790

$2.5K - $3K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $203.56
  • 2 Days on Market
  • MLS # : 2257664
  • Updated Date : 12/26/2020 at 08:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,340 sqft
  • Baths : 2 full , 1 half
Listing Agent

Addicted Realty Llc

Listing Agent's Description

Size Matters! Over 3,300 sq ft 4 bed on 1/4 acre in Historic McNeil Estates! Enjoy lots of space inside and out! Outdoor living to the max! Huge private pool and tons of space for social distancing! This centrally located neighborhood offers the best of both worlds - it's close to everything yet secluded at the same time! Please observe all COVID-19 safety protocols. Mask required for entry.

SEE MORE

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: McNeil Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k396k

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

Neighborhood: McNeil Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762137

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$611,910$747,890$679,900

PURCHASE PRICE

$2,511$3,069$2,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,790
EXPENSES Loan Payment -$2,509
Property Tax -$221
Property Insurance -$92
Property Management Fees -$119
CASH FLOW
-$150

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.

$679,900

PROJECTED PRICE

$2,790

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 11.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$185,924

INVESTMENT

$185,924

Down Payment
$169,975
Rehab Estimate
$5,750
Closing Costs
$10,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $169,975
Loan Amount $509,925
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$42,957

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,048

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7903$2,8004$3,0005$3,288
$3,288
RENT COMPS ANALYSIS
  • 2900 Mason Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,340 Sqft ∙ Built 1964 4 beds 3 baths ∙ 3,340 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $2,790
    • $0.84
    •  
  • 1708 Adra Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1979 4 beds 3 baths ∙ 3,063 Sqft ∙ Built 1979
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.85
    •  
  • 1721 Rambla Court Henderson, NV 3
    • 3 beds 2 baths ∙ 3,227 Sqft ∙ Built 1978 3 beds 2 baths ∙ 3,227 Sqft ∙ Built 1978
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.87
    •  
  • 2310 South Llewellyn Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 1961 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 1961
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
  • 2000 Plaza De Cielo Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,363 Sqft ∙ Built 1977 4 beds 3 baths ∙ 3,363 Sqft ∙ Built 1977
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,288
    • $0.98
    •  
PROPERTY LISTING DETAILS
Kenneth R Calder
1.702.843.6733
Addicted Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257664
Last Updated: 12/26/2020
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