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3221 Burton Avenue Las Vegas, NV 89102

5 Beds 3 Baths 2,700 sqft Built 1973

$489,900

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1973
  • Price/Sqft : $181.44
  • 4 Days on Market
  • MLS # : 2251915
  • Updated Date : 12/05/2020 at 10:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Wowzers! Awesome single story Vintage Vegas home located in the highly desired McNeil Estates neighborhood on a corner lot with potential RV parking, no HOA and a POOL! But wait - there's more! Real hardwood floors, huge family room with massive fireplace for those cozy movie nights, large kitchen that opens to a very spacious dining room with granite countertops, breakfast bar and lots of cabinetry! Flexible floor plan - large bonus room w/walk in closet & 1/2 bathroom at front of house could be a 2nd family room or a 2nd primary bedroom! Brand new A/C units and pool pump! Nice size laundry room with cabinets & extra counter space!

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: 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
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,808
Property Tax -$221
Property Insurance -$79
Property Management Fees -$119
CASH FLOW
$3

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.

$489,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.46%

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$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$41,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$2,0004$2,2305$2,300
$2,300
RENT COMPS ANALYSIS
  • 3221 Burton Avenue Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1973 5 beds 3 baths ∙ 2,700 Sqft ∙ Built 1973
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.83
    •  
  • 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
    property image
    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
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 1131 Strong Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1958 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1958
    property image
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 3317 Hastings Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1954 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1954
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
PROPERTY LISTING DETAILS
Faith Harmer
1.702.493.9608
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251915
Last Updated: 12/05/2020
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