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3616 Austell Street Las Vegas, NV 89129

3 Beds 3 Baths 1,812 sqft Built 2008

$299,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $165.01
  • 7 Days on Market
  • MLS # : 2246958
  • Updated Date : 11/13/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,812 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homie Llc

Listing Agent's Description

Great 3 Bedroom home with an open floor-plan. This home features a sunken family room, loft, & backyard. The kitchen features granite counter-tops and tile flooring. The Community includes a pool, park, & playground. Located just minutes from Red Rock Casino, Downtown Summerlin, dining, and shopping! Close to biking trails and the 215 freeway.

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Eileen Conners Elementary School Primary Regular 797 43 8
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Eileen Conners Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 43
8
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,103
Property Tax -$248
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$28

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.

$299,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3953$1,4454$1,4955$1,560
$1,560
RENT COMPS ANALYSIS
  • 3616 Austell Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.86
    •  
  • 10541 Kivas Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 2004
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 10545 Coal Canyon Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2004
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 10637 Chickasaw Cedar Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 2004
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.90
    •  
  • 3628 Austell Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
PROPERTY LISTING DETAILS
Karen Gradington
1.702.301.9130
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246958
Last Updated: 11/13/2020
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