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
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1977
- Price/Sqft : $168.65
- 7 Days on Market
- MLS # : 2248482
- Updated Date : 11/19/2020 at 18:47
CONSTRUCTION
- Beds : 4
- Floor Size : 2,520 sqft
- Baths : 1 full
Listing Agent
First Full Service Realty
Listing Agent's Description
Only minutes from Las Vegas Strip with easy access to 215 & I-15 also only a few miles from Raider stadium. This 4 bed 3 bath single story home sits on over 1/2 acre in a cul-de-sac! MASSIVE open living room with wood burning fireplace! Large bedrooms! 4th bed has its own entrance and full bath and is located on opposite end of the house. Garage still has automatic door in place but was converted into a massive work shop of just under 1000sq ft. An extra room was built onto it for storage of inventory items! Sparkling pool, cute tree house and a covered patio that extends the entire back of the house. Side yard is so massive that a full guest house or another shop could be built there. 2 extra storage barns/sheds in the back as well. Needs a little updating but TONS of possibilities! No HOA so dream away!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Enterprise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,680 |
| EXPENSES | Loan Payment | -$1,568 |
| Property Tax | -$259 | |
| Property Insurance | -$76 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$658
|
||
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.
$425,000
PROJECTED PRICE
$2,680
PROJECTED RENT
0.63%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 9.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$118,375
LOAN DETAILS
$1,568
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $106,250 |
| Loan Amount | $318,750 |
13.5
YEARS SAVED
$107,043
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,680
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$3,553
COMP ESTIMATED VALUE -
$1.41
COMP AVG. RENT PER SQFT
Comps Range
-
4270 Mardon Avenue Las Vegas, NV 1
- 4 beds 1 baths ∙ 2,520 Sqft ∙ Built 1977 4 beds 1 baths ∙ 2,520 Sqft ∙ Built 1977
- Rent
- Rent Per SQFT
- $2,680
- $1.06
-
7359 Rani Road Las Vegas, NV 2
- 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,446 Sqft ∙ Built 1980
LEASED 07/31/20- Rent
- Rent Per SQFT
- $3,450
- $1.41
PROPERTY LISTING DETAILS
1.702.373.9939
First Full Service Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248482
Last Updated: 11/19/2020
