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3624 Rochester Avenue Las Vegas, NV 89115

2 Beds 1 Baths 1,080 sqft Built 1983

$199,995

List Price

$930

$837 - $1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $185.18
  • 2 Days on Market
  • MLS # : 2253731
  • Updated Date : 12/05/2020 at 10:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,080 sqft
  • Baths : 1 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Completely remolded home! New Roof, New Bathrooms, New Kitchen, New Flooring, New Paint, New Landscaping. Everything is New. Ready to move in! Must check it out!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mountain View

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $69k296k

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

Neighborhood: Mountain View

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8111603

* 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
Gwendolyn Woolley Elementary School Primary Regular 747 41 6
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Mojave High School High Regular 2,311 103 2

Gwendolyn Woolley Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 41
6
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$179,996$219,995$199,995

PURCHASE PRICE

$837$1,023$930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $930
EXPENSES Loan Payment -$738
Property Tax -$102
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
-$78

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.

$199,995

PROJECTED PRICE

$930

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$58,749

INVESTMENT

$58,749

Down Payment
$49,999
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,999
Loan Amount $149,996
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$8,095

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $930

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $950

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8503$8754$9305$1,000
$1,000
RENT COMPS ANALYSIS
  • 3624 Rochester Avenue Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,080 Sqft ∙ Built 1983 2 beds 1 baths ∙ 1,080 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $930
    • $0.86
    •  
  • 3503 Rio Robles Drive #a North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 896 Sqft ∙ Built 1982 2 beds 2 baths ∙ 896 Sqft ∙ Built 1982
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $825
    • $0.92
    •  
  • 2981 Country Manor Lane #117 Las Vegas, NV 2
    • 2 beds 1 baths ∙ 957 Sqft ∙ Built 1982 2 beds 1 baths ∙ 957 Sqft ∙ Built 1982
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.89
    •  
  • 3749 Carlyle Drive #151 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,015 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,015 Sqft ∙ Built 1983
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.86
    •  
  • 3888 Fitzpatrick Drive Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,178 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,178 Sqft ∙ Built 1987
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Zack Schilling
1.702.300.5506
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253731
Last Updated: 12/05/2020
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