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4199 Beech Family Street Las Vegas, NV 89115

6 Beds 1 Baths 2,009 sqft Built 2005

$279,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $139.32
  • 5 Days on Market
  • MLS # : 2243249
  • Updated Date : 11/02/2020 at 22:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 2,009 sqft
  • Baths : 1 full
Listing Agent

Simply Vegas

Listing Agent's Description

MOVE IN READY HOME ***EXTREMELY SPACIOUS FLOORPLAN WITH 6 BEDROOMS, SEPARATE LIVING AND FAMILY ROOM *** UPGRADES GALORE - TILE FLOORING, GRANITE COUNTERTOPS, 2TONE PAINT, CEILNG FANS THOUGHOUT THE HOME, NEW LIGHT FIXTURES, PLUSH CARPET, LOW MAINTENANCE LANDSCAPING AIR CONDITIONED GARAGE. GREAT FOR WORKING OUT OR MAN CAVE! THIS COULD BE YOUR HOME FOR CHRISTMAS!

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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: Walnut Glen

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Walnut Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9181603

* 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
Gwendolyn Woolley Elementary School Primary Regular 747 41 6
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Mojave High School High Regular 2,311 103 2

Gwendolyn Woolley Elementary School

  • Education Level: Primary
  • # of students: 747
  • # of teachers: 41
6
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,033
Property Tax -$191
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$141

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.

$279,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$33,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,448
1$1,4482$1,5003$1,5504$1,900
$1,900
RENT COMPS ANALYSIS
  • 4199 Beech Family Street Las Vegas, NV 3
    • 6 beds 1 baths ∙ 2,009 Sqft ∙ Built 2005 6 beds 1 baths ∙ 2,009 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.77
    •  
  • 4240 Walnut Family Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,039 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,039 Sqft ∙ Built 2003
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,448
    • $0.71
    •  
  • 4154 Beech Family Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,009 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,009 Sqft ∙ Built 2006
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 3833 Via Lucia Drive Las Vegas, NV 4
    • 5 beds 3 baths ∙ 1,972 Sqft ∙ Built 1998 5 beds 3 baths ∙ 1,972 Sqft ∙ Built 1998
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
Anthony M Houston
1.702.485.7177
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243249
Last Updated: 11/02/2020
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