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409 Firestone Drive Las Vegas, NV 89145

5 Beds 3 Baths 3,148 sqft Built 1991

$524,950

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $166.76
  • 5 Days on Market
  • MLS # : 2252012
  • Updated Date : 12/05/2020 at 09:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

INCREDIBLE CUSTOM HOME BUILT ON A LARGE 1/3 ACRE LOT. HUGE PRIVATE LOT WITH RV PARKING. SEPARATE DETACHED GARAGE/WORKSHOP. VAULTED CEILINGS, SHUTTERS, CUSTOM CABINETS, CUSTOM LIGHT FIXTURES, UPGRADED FINISHES AT ALL BATHROOMS, UPGRADED HAND-RAILING AT STAIRS, NEW PAINT INSIDE AND OUT, NEW CARPET. THIS IS A MUST SEE, AMAZING HOME. YOUR CLIENTS WILL NOT BE DISAPPOINTED.

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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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$472,455$577,445$524,950

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,937
Property Tax -$310
Property Insurance -$88
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.

$524,950

PROJECTED PRICE

$2,290

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,862

INVESTMENT

$144,862

Down Payment
$131,238
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,238
Loan Amount $393,713
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$26,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,613

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,290
1$2,2902$2,3003$2,4004$2,5005$2,750
$2,750
RENT COMPS ANALYSIS
  • 409 Firestone Drive Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,148 Sqft ∙ Built 1991 5 beds 3 baths ∙ 3,148 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.73
    •  
  • 1713 Pink Cliff Court Las Vegas, NV 2
    • 5 beds 2 baths ∙ 3,073 Sqft ∙ Built 1997 5 beds 2 baths ∙ 3,073 Sqft ∙ Built 1997
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.75
    •  
  • 8525 Estrelita Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,949 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,949 Sqft ∙ Built 1995
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 1724 Desert Fort Street Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,073 Sqft ∙ Built 1997 5 beds 3 baths ∙ 3,073 Sqft ∙ Built 1997
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
  • 313 Vista Glen Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,893 Sqft ∙ Built 1994
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Darren T Bryan
1.702.429.4294
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252012
Last Updated: 12/05/2020
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