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44 E Serene Avenue #404 Las Vegas, NV 89123

2 Beds 2 Baths 1,134 sqft Built 2006

$249,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $220.37
  • 1 Days on Market
  • MLS # : 2302480
  • Updated Date : 07/13/2021 at 01:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

Adg Realty

Listing Agent's Description

Beautiful 2-Bedroom, 2-Bath unit in Guard-Gated Manhattan Condos. 4th Floor Unit, w/no one above you. Right off of Las Vegas Blvd S near South Point. Upgraded kitchen and upgraded flooring.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
John R. Hummel Elementary School Primary Regular 776 40 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John R. Hummel Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 40
7
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$868
Property Tax -$170
Property Insurance -$49
HOA -$268
Property Management Fees -$119
CASH FLOW
-$155

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.

$249,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,734

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,344

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2753$1,320
$1,320
RENT COMPS ANALYSIS
  • 44 E Serene Avenue #404 Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,134 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.16
    •  
  • 68 Serene Avenue #316 Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,038 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,038 Sqft ∙ Built 2006
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.20
    •  
  • 56 East Serene Avenue #101 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,086 Sqft ∙ Built 2006 2 beds 2 baths ∙ 1,086 Sqft ∙ Built 2006
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.17
    •  
PROPERTY LISTING DETAILS
Derek Miyano
1.702.315.6100
Adg Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2302480
Last Updated: 07/13/2021
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