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3542 Rio Mayo Drive Las Vegas, NV 89121

3 Beds 1 Baths 1,530 sqft Built 1963

INVESTimate

$250,000

List Price

$1,140

$1,026 - $1,254

Rent Est.

$72,000

Investment Est.

$273,425  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $163.40
  • 3 Days on Market
  • MLS # : 2224638
  • Updated Date : 08/24/2020 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,530 sqft
  • Baths : 1 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great single story, 3 beds 2 baths plus den that can be converted to a 4th bed , great size backyard with 2 covered patios

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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: 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
Hal Smith Elementary School Primary Regular 908 48 1
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Hal Smith Elementary School

  • Education Level: Primary
  • # of students: 908
  • # of teachers: 48
1
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
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

$225,000$275,000$250,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING
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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$200k$400k$600k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$922
Property Tax -$88
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$47

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.

$250,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment		 $62,500
Rehab Estimate		 $5,750
Closing Costs		 $3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$16,379

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

  • $0.75

    LIST RENT PER SQFT

  • $1,186

    COMP ESTIMATED VALUE

  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,1003$1,1404$1,2005$1,400
$1,400
RENT COMPS ANALYSIS
  • 3542 Rio Mayo Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,530 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,530 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.75
    •  
  • 4879 Linda Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,508 Sqft ∙ Built 1964
    property image
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.63
    •  
  • 3333 Ewa Beach Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.79
    •  
  • 4067 Gold Coast Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1974
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.86
    •  
  • 4414 East Flamingo Road Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Christopher Koman
1.702.232.9030
Bhhs Nevada Properties
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224638
Last Updated: 08/24/2020

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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