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3796 Chutney Street Las Vegas, NV 89121

3 Beds 1 Baths 1,598 sqft Built 1975

$250,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $156.45
  • 7 Days on Market
  • MLS # : 2251231
  • Updated Date : 12/01/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,598 sqft
  • Baths : 1 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

Fantastic Western Charmer located in the heart of Las Vegas w/ NO HOA! Home boasts pride of ownership! This single story home offers a fully fenced front yard with an automatic opener, RV parking, a brand new garage door, a 2.5 year old roof, a 4.5 year old AC, and a water heater less than a year old! Beautiful Hardwood flooring throughout and a perfect Kitchen to entertain in! Relax in your enclosed patio with a SPA next to the faux fireplace! All appliances INCLUDED!

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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

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
George E. Harris Elementary School Primary Regular 700 38 3
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

George E. Harris Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 38
3
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$922
Property Tax -$114
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$176

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.

$250,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.56%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$39,710

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,398

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3903$1,4004$1,4955$1,495
$1,495
RENT COMPS ANALYSIS
  • 3796 Chutney Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,598 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,598 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.87
    •  
  • 4032 Avonwood Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,712 Sqft ∙ Built 1973
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.81
    •  
  • 3880 South Cirrus Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,476 Sqft ∙ Built 1973
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 3969 Florrie Circle Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1977
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.86
    •  
  • 4499 Casa Sencia Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1973
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
PROPERTY LISTING DETAILS
Shannon Steinbach
1.702.588.3765
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251231
Last Updated: 12/01/2020
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