Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4220 Riker Avenue Las Vegas, NV 89115

4 Beds 2 Baths 1,596 sqft Built 2000

$274,999

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $172.31
  • 4 Days on Market
  • MLS # : 2279900
  • Updated Date : 03/20/2021 at 21:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Re/max Central

Listing Agent's Description

Spacious home with downstairs secondary bedroom and full bath, may have room for R/V parking plus 2 car garage. Offers formal living with vaulted ceilings and Fireplace with formal dining room and roomy kitchen, all of downstairs is tiled, minus the bedroom. Oversized backyard and very open and airy floor plan.

SEE MORE

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: Alexander Villas Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $77k296k

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

Neighborhood: Alexander Villas Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8541603

* 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
 

$247,499$302,499$274,999

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$955
Property Tax -$165
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$133

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.

$274,999

PROJECTED PRICE

$1,430

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.6%
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$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,249
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$27,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,440

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3503$1,4304$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 4220 Riker Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,596 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,596 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.90
    •  
  • 3820 Caldwell #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1999
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
  • 3778 Idlewood Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,495 Sqft ∙ Built 2003
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 4228 Spruce Fern Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,655 Sqft ∙ Built 2004
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 4225 English Walnut Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2005
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
PROPERTY LISTING DETAILS
Gisela Galvan
1.702.271.2074
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279900
Last Updated: 03/20/2021
BESbswy