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308 Fox Circle Las Vegas, NV 89107

4 Beds 3 Baths 1,892 sqft Built 1968

$314,999

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1968
  • Price/Sqft : $166.49
  • 4 Days on Market
  • MLS # : 2250919
  • Updated Date : 11/26/2020 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 3 full
Listing Agent

Precision Realty

Listing Agent's Description

Home is located in a cul-de-sac lot with RV parking, oversized driveway, 2 master bedrooms, and a downstairs den/play room. Open floorpan with large kitchen, featuring island with breakfast bar, NEW white shaker-cabinets, and stainless steel appliances! Ceramic plank tile in common areas. Bathrooms have a lot of character with custom tile work and NEW vanities! EXCELLENT location, less than 1 mile from the US-95.

SEE MORE

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: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
Vail Pittman Elementary School Primary Regular 616 33 3
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Vail Pittman Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 33
3
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$283,499$346,499$314,999

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,162
Property Tax -$128
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$127

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.

$314,999

PROJECTED PRICE

$1,600

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,249
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$36,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,4753$1,5504$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 308 Fox Circle Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1968 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1968
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.85
    •  
  • 6224 Fairwood Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 1963
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.76
    •  
  • 6216 Saginaw Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.84
    •  
  • 6124 Warm River Road Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1988
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 6220 Carmen Boulevard Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 1984
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
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 #: 2250919
Last Updated: 11/26/2020
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