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3642 Rochester Avenue Las Vegas, NV 89115

2 Beds 1 Baths 980 sqft Built 1983

$205,000

List Price

$1,020

$918 - $1.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $209.18
  • 4 Days on Market
  • MLS # : 2261730
  • Updated Date : 01/16/2021 at 07:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 980 sqft
  • Baths : 1 full
Listing Agent

Jason's Realty

Listing Agent's Description

Very Cute House with One Car Garage Sitting on the Big Corner Lot. Very Convenience Location Close to Market, School, Restaurant Etc. New Paint Throughout the Whole House. Brand New Kitchen Cabinet. New Granite Countertops with Under Mount Sink. New Stainless Refrigerator, Gas Stove, Range Hood and Dishwasher. New Hardwood flooring for the Two Bedrooms. Must See!

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: 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
 

$184,500$225,500$205,000

PURCHASE PRICE

$918$1,122$1,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,020
EXPENSES Loan Payment -$712
Property Tax -$99
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
$44

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.

$205,000

PROJECTED PRICE

$1,020

PROJECTED RENT

0.50%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$15,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,020

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $850

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$825
1$8252$8503$8754$1,0005$1,020
$1,020
RENT COMPS ANALYSIS
  • 3642 Rochester Avenue Las Vegas, NV 5
    • 2 beds 1 baths ∙ 980 Sqft ∙ Built 1983 2 beds 1 baths ∙ 980 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,020
    • $1.04
    •  
  • 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
    •  
  • 2961 Country Manor Lane #130 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,015 Sqft ∙ Built 1982 2 beds 2 baths ∙ 1,015 Sqft ∙ Built 1982
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.84
    •  
  • 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 4
    • 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
Jason D Wang
1.702.586.0333
Jason's Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261730
Last Updated: 01/16/2021
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