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4205 Grace Street Las Vegas, NV 89121

4 Beds 2 Baths 2,070 sqft Built 1971

INVESTimate

$230,000

List Price

$1,610

$1,449 - $1,771

Rent Est.

$251,551  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1971
  • Price/Sqft : $111.11
  • 2 Days on Market
  • MLS # : 2224810
  • Updated Date : 08/25/2020 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,070 sqft
  • Baths : 2 full
Listing Agent

Century 21 Americana

Listing Agent's Description

*Available for showings this Thurs & Fri 2-4pm**This Fixer Upper is great for an investment opportunity or to make it your own! 4 Bedrooms with the Possibility of 5. Converted Garage, Swimming pool, RV Parking and so much more! With some TLC this can be a great home. Sold As-Is. Recently remodeled homes in the area have sold up to 340K. Please be sure to wear a mask when viewing the property. Don't miss out on this one!

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
William E. Ferron Elementary School Primary Regular 538 29 5
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

William E. Ferron Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 29
5
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$849
Property Tax -$129
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
$446

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.

$230,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

14.58

YEARS SAVED

$63,797

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4954$1,6105$1,700
$1,700
RENT COMPS ANALYSIS
  • 4205 Grace Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1971 4 beds 2 baths ∙ 2,070 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.78
    •  
  • 4300 Don Quixote Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 1971
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 4626 Plata Del Sol Drive Las Vegas, NV 2
    • 3 beds 1 baths ∙ 2,144 Sqft ∙ Built 1972 3 beds 1 baths ∙ 2,144 Sqft ∙ Built 1972
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.68
    •  
  • 4270 El Esteban Way Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,110 Sqft ∙ Built 1977 4 beds 1 baths ∙ 2,110 Sqft ∙ Built 1977
    LEASED 03/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
  • 3938 Oakhill Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 1972
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
PROPERTY LISTING DETAILS
Lemichael Curry
1.702.469.9004
Century 21 Americana
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224810
Last Updated: 08/25/2020
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