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3503 President Circle Las Vegas, NV 89121

3 Beds 2 Baths 1,904 sqft Built 1964

$449,999

List Price

$1,240

$1.1K - $1.4K

Rent Est.

$125,000

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $236.34
  • 1 Days on Market
  • MLS # : 2314150
  • Updated Date : 07/13/2021 at 17:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Precision Realty

Listing Agent's Description

Wow, what an amazing, convenient location! Located on a cul-de-sac lot with HUGE backyard, covered patio, and Private pool! Beautiful kitchen has tile backsplash, brand new cabinets, upgraded quartz counters, gold hardware, recessed lights, stainless steel appliances, large undermount sink w/ upgraded faucet & garden window. Tile THROUGHOUT home, NO Carpet! Simply stunning bathrooms have mid century modern finishes w/ floating vanities, large hexagon tiles, upgraded mirrors/lights, tile showers w/ shelving, and more!

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
George E. Harris Elementary School Primary Regular 700 38 3
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

George E. Harris Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 38
3
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$404,999$494,999$449,999

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,563
Property Tax -$139
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$633

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.

$449,999

PROJECTED PRICE

$1,240

PROJECTED RENT

0.28%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment		 $112,500
Rehab Estimate		 $5,750
Closing Costs		 $6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,499
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT

  • $0.95

    LIST RENT PER SQFT

  • $1,247

    COMP ESTIMATED VALUE

  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2403$1,2504$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 3503 President Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,302 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.95
    •  
  • 249 Greenbriar Townhouse Way Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 1969
    property image
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 3565 Freedom Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,362 Sqft ∙ Built 1972
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 3541 Anthony Drive #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
  • 3169 Westfield Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1964
    property image
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Enzo Varela
1.702.280.8300
Precision Realty
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314150
Last Updated: 07/13/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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