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PROPERTY INFO
FACTS
- Single Family
- Built In 1978
- Price/Sqft : $231.96
- 3 Days on Market
- MLS # : 2271493
- Updated Date : 02/20/2021 at 00:02
CONSTRUCTION
- Beds : 3
- Floor Size : 1,437 sqft
- Baths : 2 full
Listing Agent
Performance Realty Inc
Listing Agent's Description
Pool, RV parking, 1/4 acre, no HOA, recently renovated single story home. This home checks all the boxes for what you’re looking for. Stainless appliances in the kitchen, updated bathrooms. Plenty of parking on the side yard with separate RV gate. Over $25k solar system less than a year old. Pool equipment has been upgraded. This home is move in ready.
SEE MORE
- 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: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,250 |
| EXPENSES | Loan Payment | -$1,158 |
| Property Tax | -$129 | |
| Property Insurance | -$55 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$211
|
||
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.
$333,333
PROJECTED PRICE
$1,250
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$94,083
LOAN DETAILS
$1,158
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $83,333 |
| Loan Amount | $250,000 |
2.75
YEARS SAVED
$7,168
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,250
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,257
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
4411 San Rafael Avenue Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1978
- Rent
- Rent Per SQFT
- $1,250
- $0.87
-
5691 Hobble Creek Drive Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1986
LEASED 10/28/20- Rent
- Rent Per SQFT
- $1,200
- $0.90
-
5383 Mountain Vista Street #32 Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1981
LEASED 01/29/21- Rent
- Rent Per SQFT
- $1,300
- $0.90
-
5265 Saratoga Drive Las Vegas, NV 4
- 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1971
LEASED 09/21/20- Rent
- Rent Per SQFT
- $1,325
- $0.87
-
5143 Woodruff Place Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978
LEASED 02/29/20- Rent
- Rent Per SQFT
- $1,350
- $0.83
PROPERTY LISTING DETAILS
1.702.810.6769
Performance Realty Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271493
Last Updated: 02/20/2021
