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4201 Oakey Boulevard Las Vegas, NV 89102

3 Beds 2 Baths 1,002 sqft Built 1957

$255,000

List Price

$1,040

$936 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $254.49
  • 7 Days on Market
  • MLS # : 2278831
  • Updated Date : 03/19/2021 at 07:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,002 sqft
  • Baths : 2 full
Listing Agent

Cr Realty Services Llc

Listing Agent's Description

Single story home, 3 bedroom, 2 bath, 1 oversized car garage, huge lot w/ RV parking, open floor plan, tile flooring throughout, all appliances included, alleyway behind home for access to drive into rear yard, just minutes away from Downtown, LV Strip & Arts District. This home has a ton of potential!!

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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

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Vegas Verdes Elementary School Primary Regular 543 25 8
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Vegas Verdes Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
8
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$936$1,144$1,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,040
EXPENSES Loan Payment -$886
Property Tax -$100
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$111

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.

$255,000

PROJECTED PRICE

$1,040

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,484

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,040

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,040
1$1,0402$1,2503$1,3504$1,3855$1,450
$1,450
RENT COMPS ANALYSIS
  • 4201 Oakey Boulevard Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,002 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,002 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,040
    • $1.04
    •  
  • 4531 Cory Place Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,117 Sqft ∙ Built 1954 3 beds 1 baths ∙ 1,117 Sqft ∙ Built 1954
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.12
    •  
  • 2604 Amarillo Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,144 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,144 Sqft ∙ Built 1963
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.18
    •  
  • 5133 Lytton Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1961
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $1.05
    •  
  • 2612 Las Verdes Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1963 3 beds 3 baths ∙ 1,325 Sqft ∙ Built 1963
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
PROPERTY LISTING DETAILS
Clemente Espinoza
1.702.340.0720
Cr Realty Services Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278831
Last Updated: 03/19/2021
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