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4213 Crater Street Las Vegas, NV 89122

3 Beds 2 Baths 1,189 sqft Built 1964

$220,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1964
  • Price/Sqft : $185.03
  • 2 Days on Market
  • MLS # : 2248332
  • Updated Date : 11/14/2020 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,189 sqft
  • Baths : 2 full
Listing Agent

King Realty Group

Listing Agent's Description

This 3Bedroom 2Baths is a perfect blank canvas for you to make your own. All appliances Included.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Cynthia Cunningham Elementary School Primary Regular 801 38 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Chaparral High School High Regular 2,270 87 3

Cynthia Cunningham Elementary School

  • Education Level: Primary
  • # of students: 801
  • # of teachers: 38
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Chaparral High School

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

$198,000$242,000$220,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$812
Property Tax -$86
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$23

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.

$220,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$18,576

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $871

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$750
1$7502$8753$1,0904$1,1005$1,150
$1,150
RENT COMPS ANALYSIS
  • 4213 Crater Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1964
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.92
    •  
  • 3666 Lost Hills Drive #none Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1978
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $750
    • $0.65
    •  
  • 3658 Death Valley Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1979
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.70
    •  
  • 3333 Ewa Beach Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.79
    •  
  • 5119 Carmel Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1974
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.79
    •  
PROPERTY LISTING DETAILS
Kourtney Wagner
1.702.237.0390
King Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248332
Last Updated: 11/14/2020
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