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2908 Howard Drive Las Vegas, NV 89104

3 Beds 1 Baths 988 sqft Built 1958

$209,900

List Price

$880

$792 - $968

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1958
  • Price/Sqft : $212.45
  • 6 Days on Market
  • MLS # : 2277368
  • Updated Date : 03/11/2021 at 23:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 988 sqft
  • Baths : 1 full
Listing Agent

United Realty Group

Listing Agent's Description

Home is centrally located. Near shopping,bus line s and freeway. Covered carport with storage. Home features tile flooring through out, new paint. Brand new kitchen cabinets. Fully fenced yard. Large backyard

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: 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
 

$188,910$230,890$209,900

PURCHASE PRICE

$792$968$880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $880
EXPENSES Loan Payment -$729
Property Tax -$64
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
-$78

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.

$209,900

PROJECTED PRICE

$880

PROJECTED RENT

0.42%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$7,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $880

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $887

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$880
1$8802$1,0953$1,1004$1,1005$1,100
$1,100
RENT COMPS ANALYSIS
  • 2908 Howard Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 988 Sqft ∙ Built 1958 3 beds 1 baths ∙ 988 Sqft ∙ Built 1958
    • Rent
    • Rent Per SQFT
    •  
    • $880
    • $0.89
    •  
  • 3908 Montebello Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,184 Sqft ∙ Built 1973
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.92
    •  
  • 227 Greenbriar Townhouse Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 3612 Lighthouse Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1978
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 249 Greenbriar Townhouse Way Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Giovanni L Carmona
1.702.460.1347
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277368
Last Updated: 03/11/2021
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