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3100 Avalon Avenue Las Vegas, NV 89107

4 Beds 1 Baths 1,671 sqft Built 1963

$250,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $149.61
  • 3 Days on Market
  • MLS # : 2269954
  • Updated Date : 02/13/2021 at 04:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,671 sqft
  • Baths : 1 full
Listing Agent

Century 21 Americana

Listing Agent's Description

Charming one story home with three ample sized bedrooms and two bathrooms. Spacious open floor plan to include a large living room dining room area upon entry. Spacious fourth bedroom with access to the backyard. Kitchen includes laminate countertops and tile flooring. Large backyard open to your imagination. A definite must see!! Conveniently located near shopping, transit, entertainment, and dining.

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: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Twin Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8871603

* 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
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

Howard Wasden Elementary School

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

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

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

$225,000$275,000$250,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$868
Property Tax -$105
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$388

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.

$250,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

13

YEARS SAVED

$51,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,387

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4003$1,4754$1,5005$1,540
$1,540
RENT COMPS ANALYSIS
  • 3100 Avalon Avenue Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,671 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,671 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.92
    •  
  • 928 Robin Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1957
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 3705 Bonanza Road Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 404 Delamar Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
  • 1616 Luning Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,803 Sqft ∙ Built 1963
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Juan A Martinez
1.702.296.9999
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269954
Last Updated: 02/13/2021
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