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3611 Indios Avenue Las Vegas, NV 89121

3 Beds 2 Baths 1,056 sqft Built 1970

$230,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $217.80
  • 7 Days on Market
  • MLS # : 2255708
  • Updated Date : 12/14/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,056 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Las Vegas one-story home offers a one-car garage.

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: 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$849
Property Tax -$83
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$72

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.

$230,000

PROJECTED PRICE

$1,170

PROJECTED RENT

0.51%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,892

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,016

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$1,0003$1,1504$1,1705$1,295
$1,295
RENT COMPS ANALYSIS
  • 3611 Indios Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,056 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,056 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $1.11
    •  
  • 3658 Death Valley Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.70
    •  
  • 4333 Ridgedale Las Vegas, NV 2
    • 3 beds 1 baths ∙ 954 Sqft ∙ Built 1962 3 beds 1 baths ∙ 954 Sqft ∙ Built 1962
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $1.05
    •  
  • 4709 Rio Street Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,130 Sqft ∙ Built 1963
    property image
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.02
    •  
  • 3541 Anthony Drive #0 Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1971
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.08
    •  
PROPERTY LISTING DETAILS
Alexis M Rogers
1.702.710.3787
Opendoor Brokerage Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255708
Last Updated: 12/14/2020
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