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3955 Jo Rae Avenue Las Vegas, NV 89141

4 Beds 2 Baths 3,720 sqft Built 2006

$925,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $248.66
  • 3 Days on Market
  • MLS # : 2261960
  • Updated Date : 01/16/2021 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,720 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Beautiful custom single story on 1.27 acres in the SW, near the I-15 and South Point Casino/Hotel/Spa. Home features open floor plan with 4 bedrooms, 3 bathrooms, den, spacious kitchen with stainless steel appliance for wonderful area to gather with family and friends, fireplace, large master with customized closet.

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
 

$832,500$1,017,500$925,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$3,213
Property Tax -$656
Property Insurance -$99
Property Management Fees -$119
CASH FLOW
-$1,017

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.

$925,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$250,875

INVESTMENT

$250,875

Down Payment
$231,250
Rehab Estimate
$5,750
Closing Costs
$13,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$3,213

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $231,250
Loan Amount $693,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$2,286

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,6003$2,9954$3,0005$3,070
$3,070
RENT COMPS ANALYSIS
  • 3955 Jo Rae Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,720 Sqft ∙ Built 2006 4 beds 2 baths ∙ 3,720 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.83
    •  
  • 9967 Pipestone Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,419 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,419 Sqft ∙ Built 2006
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.70
    •  
  • 5399 Tartan Hill Avenue Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,971 Sqft ∙ Built 2014 5 beds 3 baths ∙ 3,971 Sqft ∙ Built 2014
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.65
    •  
  • 9875 Gold Thorn Street #- Las Vegas, NV 3
    • 5 beds 3 baths ∙ 4,058 Sqft ∙ Built 2001 5 beds 3 baths ∙ 4,058 Sqft ∙ Built 2001
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.74
    •  
  • 10170 Cascadia Creek Street Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,971 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,971 Sqft ∙ Built 2018
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ivan G Sher
1.702.315.0223
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261960
Last Updated: 01/16/2021
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