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4400 Mayflower Lane Las Vegas, NV 89107

4 Beds 3 Baths 1,744 sqft Built 1961

$335,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $192.09
  • 19 Days on Market
  • MLS # : 2263130
  • Updated Date : 02/07/2021 at 01:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,744 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin

Listing Agent's Description

Stunningly magnificent Las Vegas POOL home with easy access to Historic Downtown Fremont Street and the Las Vegas Strip! Ultra-upgraded features including Low-E windows, surround sound entertainment, Venetian plaster, converted garage to additional workshop/storage space, water heater replaced in 2018, *NEW* roof in 2020, Pool quartz re-plastered and tiled in 2020, plus *33* solar panels! Multi-gen layout with spacious bedroom suite downstairs (option to create separate entrance from this suite). All bedrooms enjoy ceiling fans. The backyard is an oasis with lush, mature landscape, sparkling pool, above-ground spa, BBQ, and palapa - ideal for entertaining! No HOA means you can use the spacious RV parking for all of your recreational toys! Close proximity to the beautiful Springs Preserve nature preserve, Meadows Mall, Griffith Elementary, and so much more - you will fall in love with this home!

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: Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k296k

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

Neighborhood: Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8831603

* 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
E.w. Griffith Elementary School Primary Regular 578 27 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Western High School High Regular 2,534 112 2

E.w. Griffith Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 27
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,164
Property Tax -$127
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$121

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.

$335,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.8%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,155

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,308

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2753$1,3504$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 4400 Mayflower Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,744 Sqft ∙ Built 1961
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 609 Spyglass Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,758 Sqft ∙ Built 1979
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.68
    •  
  • 4419 Kay Place Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1953
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.71
    •  
  • 3705 Bonanza Road Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,697 Sqft ∙ Built 1961
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 5116 Arbor Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,772 Sqft ∙ Built 1980
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
PROPERTY LISTING DETAILS
Shay Stein Fillinger
1.702.250.3306
Redfin
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263130
Last Updated: 02/07/2021
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