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3514 Ocatillo Mesa Way North Las Vegas, NV 89031

4 Beds 3 Baths 2,222 sqft Built 2002

INVESTimate

$340,000

List Price

$1,480

$1,332 - $1,628

Rent Est.

$376,754  ( +10.81%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $153.02
  • 10 Days on Market
  • MLS # : 2222732
  • Updated Date : 08/24/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,222 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

BEAUTIFUL OPEN FLOOR PLAN WITH AN OPEN AND AIRY FLOOR SPACE WITH OVERSIZED BEDROOMS + LOFT ONE OF THE BEDROOMS ARE DOWNSTAIRS WITH BATH!2 FAMILY ROOMS WITH A SEPERATE DINING ROOM* LARGE BACKYARD WITH LOTS OF SHADE COVERINGS . CONVENIENTLY LOCATED NEAR SHOPPING AND SCHOOLS.

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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: Schelling Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k297k

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

Neighborhood: Schelling Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9531603

* 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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

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-$6.0k-$4.0k-$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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,254
Property Tax -$249
Property Insurance -$70
HOA -$30
Property Management Fees -$119
CASH FLOW
-$243

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.

$340,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.81%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,494

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,572

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5003$1,5954$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 3514 Ocatillo Mesa Way North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.67
    •  
  • 4519 Sunset Crater Court North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 2003
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.68
    •  
  • 5721 Leonidas Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2006
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.71
    •  
  • 2917 Chilly Nights Avenue North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,401 Sqft ∙ Built 2004
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 2520 Rainy Meadows Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2019
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.77
    •  
PROPERTY LISTING DETAILS
Tania Michaels
1.702.675.8211
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222732
Last Updated: 08/24/2020
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