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428 Princess Avenue North Las Vegas, NV 89030

4 Beds 3 Baths 2,182 sqft Built 2004

$299,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $137.03
  • 5 Days on Market
  • MLS # : 2257576
  • Updated Date : 12/24/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,182 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Public Remarks Gorgeous 2story home with a great open floor plan, vaulted ceilings, well maintained home.This home boasts pride of ownership. Nice kitchen layout w/ breakfast nook area. 4bedrooms W/ 3 full baths great layout with a formal living, dining, family room and a bedroom downstairs with a full size bath. 2 car garage, Pool side lot and a corner lot. . Show your pickiest buyers and they won't be disappointed.

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MARKET HIGHLIGHTS

  • 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: Regal Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $64k296k

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

Neighborhood: Regal Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7851603

* 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
Jo Mackey Elementary School Primary Magnet 561 32 9
West Preparatory Instititute School For Academic Excellence Middle Regular 1,353 64 7
West Preparatory Instititute School For Academic Excellence High Regular 1,353 64 7

Jo Mackey Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 32
9
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,103
Property Tax -$220
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$88

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.

$299,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.6%
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$5.0k$10k$15k

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$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$29,180

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 428 Princess Avenue North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 1655 Marion Bennet Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 2002 4 beds 3 baths ∙ 1,868 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.72
    •  
  • 720 Old Moccasin North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,141 Sqft ∙ Built 2005
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.68
    •  
  • 340 Burgos Avenue North Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2018
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 2448 Englestad Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 2004
    LEASED 11/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
PROPERTY LISTING DETAILS
Kimbly Bolden
1.702.338.1155
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257576
Last Updated: 12/24/2020
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