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4409 Thompson Circle Las Vegas, NV 89107

4 Beds 2 Baths 1,906 sqft Built 1963

$300,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1963
  • Price/Sqft : $157.40
  • 12 Days on Market
  • MLS # : 2242146
  • Updated Date : 10/23/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,906 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

YOU HAVE TO SEE THIS WELL MAINTAINED HOME IN A HISTORIC NEIGHBORHOOD! THIS HOME FEATURES 4 BEDROOMS, SINGLE STORY, A DEN, SOLAR PANALS, DESERT LANDSCAPING, WOOD BURNING FIREPLACE, AND A POOL FOR THOSE HOT SUMMER NIGHTS! FLOW EFFORTLESSLY INTO YOUR NEW HOME WITH NO CARE IN THE WORLD! BRAND NEW PAINT AND CARPET IN THE LIVING ROOM THATS READY FOR ENTERTAINING AND MOVIE NIGHTS! COME INTO YOUR SPLIT DINING ROOM AND KITCHEN COMBO! CONVERTED GARAGE INTO A DEN FULLY INSULATED! WHY NOT TAKE A WALK OUTSIDE AND SEE THE HUGE BACKYARD WITH A POOL! ITS PEFECT FOR ENTERTAINING AND GATHERINGS. THE REAR OF THE HOME IS DEDICATED TO 4 BEDROOMS. ALL OF WITCH HAVE PLENTY OF ROOM. A PLETHORA OF STORAGE THROUGHOUT THE HOME. THIS HOME WILL NOT LAST LONG! HURRY!!!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Charleston Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Charleston Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Robert O. Gibson Middle School Middle Magnet 1,293 57 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

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,107
Property Tax -$135
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$25

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.

$300,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,645

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,368

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,2954$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 4409 Thompson Circle Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.73
    •  
  • 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
    •  
  • 705 Spyglass Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,827 Sqft ∙ Built 1979
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.68
    •  
  • 3817 Caddy Circle Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1964
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.73
    •  
  • 4524 Mayflower Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1961
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.78
    •  
PROPERTY LISTING DETAILS
Brandon Smith
1.702.600.2079
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242146
Last Updated: 10/23/2020
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