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3678 Algonquin Drive Las Vegas, NV 89169

4 Beds 3 Baths 2,000 sqft Built 1964

$374,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $187.45
  • 7 Days on Market
  • MLS # : 2255385
  • Updated Date : 12/28/2020 at 16:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas One Realty

Listing Agent's Description

WOW....!!! REMODELED HOUSE. GREAT FOR INVESTORS OR OWNER OCCUPY !!! MOVE IN READY! 1 STORY WITH OPEN FLOOR PLAN 4 BEDROOMS, NEW ROOF, NEW KITCHEN, NEW GRANITE TOPS , N, NEW FLOORING, NEW RECESSED LIGHT, NEW PAINT ,NEW POOL PLASTER, BIG ROOMS, IN THE BACK OF THE BOULEVARD MALL, 8 MINUTE FROM THE STRIP, NEAR HOSPITAL, SHOPING CENTER PARK MUST SEE.....WON'T LAST.....

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Paradise Palms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k301k

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

Neighborhood: Paradise Palms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9651752

* 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
Ruby S. Thomas Elementary School Primary Regular 817 44 2
William E. Orr Middle School Middle Regular 933 36 NA
Valley High School High Magnet 2,826 123 2

Ruby S. Thomas Elementary School

  • Education Level: Primary
  • # of students: 817
  • # of teachers: 44
2
GreatSchools Rating

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,383
Property Tax -$146
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$186

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.

$374,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.6%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$47,732

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,100

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8703$1,9004$2,1955$2,375
$2,375
RENT COMPS ANALYSIS
  • 3678 Algonquin Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,000 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 1552 Pawnee Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 3862 Delaware Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,946 Sqft ∙ Built 1964
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.96
    •  
  • 3532 Pueblo Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1963 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 1963
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.08
    •  
  • 1531 Commanche Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $1.23
    •  
PROPERTY LISTING DETAILS
Arik Shina
1.702.604.3435
Vegas One Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255385
Last Updated: 12/28/2020
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