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35 Palisade Avenue Las Vegas, NV 89110

4 Beds 2 Baths 1,290 sqft Built 1979

$245,000

List Price

$1,140

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $189.92
  • 2 Days on Market
  • MLS # : 2246615
  • Updated Date : 11/07/2020 at 10:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,290 sqft
  • Baths : 2 full
Listing Agent

Executive Realty Services

Listing Agent's Description

Very nice and we'll kept home in a desirable area of Las Vegas, close to freeway, Shopping center, Totally many upgrades inside this 4 Bedrooms, 2 full baths, 2 Car garage with auto opener, Fully block fence with stucco, and security bar all over the house.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $65k296k

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

Neighborhood: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8541603

* 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
Charlotte And Jerry Keller Elementary School Primary Regular 732 41 4
Charlotte And Jerry Keller Elementary School Middle Regular 732 41 4
Las Vegas High School High Regular 3,077 121 4

Charlotte And Jerry Keller Elementary School

  • Education Level: Primary
  • # of students: 732
  • # of teachers: 41
4
GreatSchools Rating

Charlotte And Jerry Keller Elementary School

  • Education Level: Middle
  • # of students: 732
  • # of teachers: 41
4
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$904
Property Tax -$116
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$51

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.

$245,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.47%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$13,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,184

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1403$1,1504$1,1505$1,265
$1,265
RENT COMPS ANALYSIS
  • 35 Palisade Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,290 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.88
    •  
  • 1300 Arlington Street #202 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,228 Sqft ∙ Built 1998
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.90
    •  
  • 1300 Arlington Street #103 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,228 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,228 Sqft ∙ Built 1998
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 1405 Nellis Boulevard #2101 Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,228 Sqft ∙ Built 1996
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 112 Romero Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lamphout Khonsavan
1.702.762.1521
Executive Realty Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246615
Last Updated: 11/07/2020
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