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3011 Burton Avenue Las Vegas, NV 89102

4 Beds 1 Baths 2,674 sqft Built 1972

$620,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $231.86
  • 7 Days on Market
  • MLS # : 2268676
  • Updated Date : 02/10/2021 at 22:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,674 sqft
  • Baths : 1 full
Listing Agent

Win Win Real Estate

Listing Agent's Description

Location, Location, Location. The pictures say a 1000 words. Let the light shine down - enclosed sun / game room. Primary bedroom is downstairs with Private Bath. Loving this backyard with deep swimming pool. Mature Landscape. Dine in kitchen with bar seating. Family room has wood burning fireplace. 2nd floor Loft/ Office at home workspace counter. Oversized laundry room good for storage or a wrapping room. (3) New Glass Shower Doors to be installed & Upgraded Appliance Package Refrigerator / Washer & Dryer & Oven on Order and to be installed by 1/22/2021. This is a MUST See.

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

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
 

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

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 -$2,153
Property Tax -$217
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
-$649

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

$1,920

PROJECTED RENT

0.31%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

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 65% 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

1.17

YEARS SAVED

$3,063

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
  • $0.72

    LIST RENT PER SQFT
  • $1,959

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9004$1,9205$1,975
$1,975
RENT COMPS ANALYSIS
  • 3011 Burton Avenue Las Vegas, NV 4
    • 4 beds 1 baths ∙ 2,674 Sqft ∙ Built 1972 4 beds 1 baths ∙ 2,674 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.72
    •  
  • 3021 Mason Avenue Las Vegas, NV 1
    • 4 beds 1 baths ∙ 2,758 Sqft ∙ Built 1964 4 beds 1 baths ∙ 2,758 Sqft ∙ Built 1964
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 4005 Esmeralda Avenue Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,657 Sqft ∙ Built 1961 5 beds 2 baths ∙ 2,657 Sqft ∙ Built 1961
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 805 Chabot Las Vegas, NV 3
    • 5 beds 1 baths ∙ 2,468 Sqft ∙ Built 1963 5 beds 1 baths ∙ 2,468 Sqft ∙ Built 1963
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 4616 Lilliput Lane Las Vegas, NV 5
    • 5 beds 1 baths ∙ 2,550 Sqft ∙ Built 1963 5 beds 1 baths ∙ 2,550 Sqft ∙ Built 1963
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
PROPERTY LISTING DETAILS
Stephen Sinko
1.702.281.2304
Win Win Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268676
Last Updated: 02/10/2021
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