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3804 San Joaquin Avenue Las Vegas, NV 89102

3 Beds 1 Baths 1,358 sqft Built 1963

$266,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $195.88
  • 3 Days on Market
  • MLS # : 2251369
  • Updated Date : 12/04/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,358 sqft
  • Baths : 1 full
Listing Agent

Limitless Realty

Listing Agent's Description

Vintage Las Vegas One Story Home! Lots of Room! No maintenance Desert landscaping in the front of the home. This spacious home has lots of tile! A formal living room with a cozy wood burning fireplace and ceiling fan. kitchen with granite counters, built in microwave. All of the bedrooms have wood laminate flooring. This large rear yard has cover patio and is ready for your imagination! A must see! Close to freeway access, schools, shopping and minutes from the Las Vegas Strip.

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

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Vegas Verdes Elementary School Primary Regular 543 25 8
James Cashman Middle School Middle Magnet 1,601 61 NA
Ed W. Clark High School High Magnet 3,066 129 7

Vegas Verdes Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
8
GreatSchools Rating

James Cashman Middle School

  • Education Level: Middle
  • # of students: 1,601
  • # of teachers: 61
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$239,400$292,600$266,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$981
Property Tax -$119
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$157

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.

$266,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.4%
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

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$76,240

INVESTMENT

$76,240

Down Payment
$66,500
Rehab Estimate
$5,750
Closing Costs
$3,990

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,500
Loan Amount $199,500
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$36,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,497

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4304$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 3804 San Joaquin Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,358 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,358 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.05
    •  
  • 3008 Alcoa Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,209 Sqft ∙ Built 1962 3 beds 1 baths ∙ 1,209 Sqft ∙ Built 1962
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.12
    •  
  • 3108 Piedmont Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,312 Sqft ∙ Built 1963
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
  • 2612 Las Verdes Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1963
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
  • 2613 Las Verdes Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,326 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,326 Sqft ∙ Built 1963
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.17
    •  
PROPERTY LISTING DETAILS
Cayden Ni
1.702.979.0598
Limitless Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251369
Last Updated: 12/04/2020
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