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3514 Ocatillo Mesa Way North Las Vegas, NV 89031

4 Beds 3 Baths 2,222 sqft Built 2002

$325,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $146.26
  • 6 Days on Market
  • MLS # : 2244484
  • Updated Date : 11/03/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,222 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

MOVE IN READY * 4B+OVERSIZED LOFT, 3 FULL BA, 2 CAR WITH LARGE BACKYARD * 1 BED/FULL BATH DOWNSTAIRS * SEPARATE LIVING AN FAMILY ROOMS * MASTER WITH RETREAT * OPEN KITCHEN WITH LOTS OF LIGHT * 2 SHEDS IN BACK YARD INCLUDED * TILE AND CARPET THROUGHOUT * GARAGE STORAGE * COME AND SEE!

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: 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,199
Property Tax -$249
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$12

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.

$325,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$23,185

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6504$1,6955$1,699
$1,699
RENT COMPS ANALYSIS
  • 3514 Ocatillo Mesa Way North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,222 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 5721 Leonidas Street Las Vegas, NV 1
    • 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 2
    • 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 4
    • 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
    •  
  • 4516 Ryder Lane North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,216 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,216 Sqft ∙ Built 1990
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $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 #: 2244484
Last Updated: 11/03/2020
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