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3813 El Conlon Avenue Las Vegas, NV 89102

3 Beds 2 Baths 1,509 sqft Built 1963

$309,750

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $205.27
  • 8 Days on Market
  • MLS # : 2264853
  • Updated Date : 02/06/2021 at 05:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,509 sqft
  • Baths : 2 full
Listing Agent

Swg Realty Group

Listing Agent's Description

Newly renovated 3 bed, Garage Converted into a room single-story house. Brand New White shaker cabinets with self-closing hinges and silver modern pulls. New Stainless steel appliances. Granite countertops. Freshly painted inside. Shower/Tub combo in Master Bath. Covered Patio and Shed in Backyard. New carpet and padding. 5" Modern baseboards throughout. New light fixtures, faucets, door handles, shelves. Minutes from the Strip.

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

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
 

$278,775$340,725$309,750

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,076
Property Tax -$109
Property Insurance -$56
Property Management Fees -$119
CASH FLOW
$59

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.

$309,750

PROJECTED PRICE

$1,420

PROJECTED RENT

0.46%

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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,834

INVESTMENT

$87,834

Down Payment
$77,438
Rehab Estimate
$5,750
Closing Costs
$4,646

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,076

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,438
Loan Amount $232,313
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4203$1,4504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 3813 El Conlon Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.94
    •  
  • 3108 Piedmont Avenue Las Vegas, NV 1
    • 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 3
    • 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 4
    • 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
    •  
  • 4300 Via Olivero Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1960 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 1960
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
PROPERTY LISTING DETAILS
Casey Ryan
1.702.824.7270
Swg Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264853
Last Updated: 02/06/2021
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