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3948 Irvin Avenue Las Vegas, NV 89141

4 Beds 3 Baths 2,046 sqft Built 2002

$360,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $175.95
  • 4 Days on Market
  • MLS # : 2265269
  • Updated Date : 01/30/2021 at 00:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,046 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

WELL KEPT TWO STORY HOME IN SOUTHERN HIGHLANDS. 4 BEDROOMS, 2 1/2 BATH AND 2 CAR GARAGE. OPEN FLOOR PLAN, FRONT LIVING ROOM. DOWNSTAIRS HAS WOOD LAMINATE AND TILE FLOORING. OPEN KITCHEN, WITH PLENTY OF CABINETS AND COUNTER SPACE, CENTER ISLAND. ALL BEDROOMS ARE UPSTAIRS. LARGE MASTER WITH WALK IN CLOSET. SPACIOUS SECONDARY BEDROOMS. THIS HOUSE HAS SOLAR PANELS. AVERAGE POWER BILL IS LESS THAN $20. EASY ACCESS TO SCHOOLS, SHOPPING AND FREEWAY!

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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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,250
Property Tax -$225
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$38

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.

$360,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$20k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$27,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,7004$1,7005$1,920
$1,920
RENT COMPS ANALYSIS
  • 3948 Irvin Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 3917 Irvin Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2002
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 3956 Bella Palermo Way #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2002
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.81
    •  
  • 3980 Irvin Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,046 Sqft ∙ Built 2002
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.83
    •  
  • 3956 West Irvin Avenue #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2002
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.97
    •  
PROPERTY LISTING DETAILS
Andy Medina-galvez
1.702.902.7568
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265269
Last Updated: 01/30/2021
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