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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $176.06
- 3 Days on Market
- MLS # : 2247934
- Updated Date : 11/14/2020 at 02:30
CONSTRUCTION
- Beds : 4
- Floor Size : 1,817 sqft
- Baths : 2 full
Listing Agent
Cr Realty Services Llc
Listing Agent's Description
Great single story home w/ amazing location! it features 4 bedroom, 2 bath, 2 car garage, NEW Roof, freshly painted, tile flooring throughout, large formal living room w/ wood burning fireplace and vaulted ceiling, kitchen has quartz counter tops and lots of cabinet space, spacious master bedroom w/ walk in closet, Huge backyard with large covered patio, convenient location near the fabulous Las Vegas Strip and many more... Make this your New HOME!!!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,650 |
| EXPENSES | Loan Payment | -$1,180 |
| Property Tax | -$125 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$164
|
||
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.
$319,900
PROJECTED PRICE
$1,650
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,524
LOAN DETAILS
$1,180
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $79,975 |
| Loan Amount | $239,925 |
8.67
YEARS SAVED
$44,632
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,650
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,699
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
3936 Reno Avenue Las Vegas, NV 2
- 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1973
![property image]()
- Rent
- Rent Per SQFT
- $1,650
- $0.91
-
4180 Reno Avenue Las Vegas, NV 1
- 3 beds 1 baths ∙ 1,672 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,672 Sqft ∙ Built 1979
![property image]()
LEASED 01/04/20- Rent
- Rent Per SQFT
- $1,450
- $0.87
-
3948 Boca Grande Las Vegas, NV 3
- 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 1985
![property image]()
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,685
- $0.92
-
3938 Irongate Las Vegas, NV 4
- 5 beds 2 baths ∙ 1,817 Sqft ∙ Built 1973 5 beds 2 baths ∙ 1,817 Sqft ∙ Built 1973
![property image]()
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,750
- $0.96
-
3990 East Reno Avenue #0 Las Vegas, NV 5
- 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1976 4 beds 2 baths ∙ 1,817 Sqft ∙ Built 1976
![property image]()
LEASED 10/09/20- Rent
- Rent Per SQFT
- $1,795
- $0.99
PROPERTY LISTING DETAILS
1.702.340.0720
Cr Realty Services Llc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2247934
Last Updated: 11/14/2020
