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4326 Soria Way Las Vegas, NV 89121

4 Beds 2 Baths 1,987 sqft Built 1975

$350,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $176.14
  • 4 Days on Market
  • MLS # : 2257560
  • Updated Date : 12/25/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,987 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Great Single Story 4 Bedroom Home on a Cul-de-sac. RV Parking, Large Front and Rear yards, Large Patio Cover with Tile Flooring, New Roof Just Completed December 2020 With Warranty, Large Vaulted Living Room with Fireplace, Separate Dining Room Can be used as Second Living Area or Den, Wet Bar in Dining Room Area, Remodeled Kitchen, Larger Laundry Room with Both Utilities, Separate Pantry, Master Has Retro Style Sunken Tub/Shower Combo, Two Closets, All Bedrooms are Larger than Most New Homes. Show and Sell this Beautiful Home.

SEE MORE

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: 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,291
Property Tax -$135
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$19

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.

$350,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$30,949

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,704

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,352
1$1,3522$1,5953$1,5954$1,6305$1,650
$1,650
RENT COMPS ANALYSIS
  • 4326 Soria Way Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.82
    •  
  • 4585 Magdalena Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,352
    • $0.75
    •  
  • 5119 Margo Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1961
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4225 Greenhill Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 1971
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4525 Charles Ronald Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1965
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Robert C Danner
1.702.813.0884
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257560
Last Updated: 12/25/2020
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