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3531 Florrie Avenue Las Vegas, NV 89121

5 Beds 2 Baths 1,276 sqft Built 1963

$269,999

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $211.60
  • 2 Days on Market
  • MLS # : 2260591
  • Updated Date : 01/10/2021 at 01:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,276 sqft
  • Baths : 2 full
Listing Agent

Precision Realty

Listing Agent's Description

Excellent location, minutes from major freeway, US-95! Gorgeous single story home with 4 bedrooms! Home has been completely redone - Spacious kitchen with plenty of counter space, garden window, breakfast bar, New Quartz Counters, New White Shaker Cabinets, and SS appliances! New flooring Throughout home! Upgraded bathrooms include custom tile floors and showers. Showers have built in storage and upgraded hardware/fixtures. New vanities, mirrors, and lighting in bathrooms! Don't miss out on this amazing opportunity!!**** Total living area is approx. 1717sf****

SEE MORE

MARKET HIGHLIGHTS

  • 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
 

$242,999$296,999$269,999

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$938
Property Tax -$84
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$157

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.

$269,999

PROJECTED PRICE

$1,350

PROJECTED RENT

0.50%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,499
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$33,874

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,3904$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 3531 Florrie Avenue Las Vegas, NV 2
    • 5 beds 2 baths ∙ 1,276 Sqft ∙ Built 1963 5 beds 2 baths ∙ 1,276 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 3541 Anthony Drive #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
  • 3146 Greendale Street Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,288 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,288 Sqft ∙ Built 1963
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.08
    •  
  • 4122 Victoria Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1971
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.99
    •  
  • 3910 Ivyhill Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1971
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260591
Last Updated: 01/10/2021
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