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3604 West Colton Avenue North Las Vegas, NV 89032

3 Beds 3 Baths 1,686 sqft Built 1991

INVESTimate

$255,000

List Price

$1,420

$1,278 - $1,562

Rent Est.

$276,956  ( +8.61%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $151.25
  • 5 Days on Market
  • MLS # : 2224200
  • Updated Date : 08/25/2020 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,686 sqft
  • Baths : 2 full , 1 half
Listing Agent

Black & Cherry Real Estate

Listing Agent's Description

NEWLY REMODELED***3 beds, 2.5 baths, 2 car garage, fresh paint, vaulted ceilings, new carpet, tile entry, cozy fireplace, ceiling fans, kitchen w/ breakfast nook, all appliances included, large master bedroom w/ walk in closet, master bathroom w/ double sinks, shower/tub combo, private back yard, desert landscaping for easy maintenance, located near schools, shopping, dining & entertainment. NO HOA***

SEE MORE

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: Desert Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Desert Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8531603

* 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
Lucile Bruner Elementary School Primary Regular 712 38 2
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Lucile Bruner Elementary School

  • Education Level: Primary
  • # of students: 712
  • # of teachers: 38
2
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

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

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 $1,420
EXPENSES Loan Payment -$941
Property Tax -$183
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$118

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.

$255,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.61%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$29,482

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,425

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,315
1$1,3152$1,3953$1,4204$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 3604 West Colton Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,686 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.84
    •  
  • 3217 Colton Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,560 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,560 Sqft ∙ Built 2000
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,315
    • $0.84
    •  
  • 3436 Yountville Court North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,637 Sqft ∙ Built 2004
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.85
    •  
  • 3749 Thomas Patrick North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,778 Sqft ∙ Built 2006
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 4049 Thomas Patrick Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,828 Sqft ∙ Built 2008
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
PROPERTY LISTING DETAILS
Eloff E Perez
1.702.677.0558
Black & Cherry Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224200
Last Updated: 08/25/2020
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