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4342 Harmon Avenue Las Vegas, NV 89121

4 Beds 2 Baths 1,784 sqft Built 1974

$275,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $154.15
  • 8 Days on Market
  • MLS # : 2253798
  • Updated Date : 12/14/2020 at 15:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

This 4 bedroom 3 bath home is Very close to highway and few minutes away from the strip. Just needs a little TLC

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,015
Property Tax -$116
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$218

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.

$275,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.56%

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

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 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

10.17

YEARS SAVED

$46,860

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,646

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5303$1,5754$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 4342 Harmon Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.86
    •  
  • 4566 Charles Ronald Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,593 Sqft ∙ Built 1968 3 beds 1 baths ∙ 1,593 Sqft ∙ Built 1968
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 4122 Victoria Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,590 Sqft ∙ Built 1971
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.99
    •  
  • 4468 Flamingo Road Las Vegas, NV 4
    • 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965
    property image
    LEASED 09/18/20
    • 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
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jason M Abrams
1.702.683.1800
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253798
Last Updated: 12/14/2020
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