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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $159.74
- 3 Days on Market
- MLS # : 2256575
- Updated Date : 12/18/2020 at 14:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,878 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Southern Nevada
Listing Agent's Description
NO HOA WITH A POOL PLUS 16K IN UPGRADES! Fresh paint on interior and exterior, new laminate wood floors throughout, new bathroom lights and freshly painted pool. The large sparkling pool and covered patio are perfect for entertaining during the hot summer months. All appliances are included making this home completely move in ready!
SEE MORE
- 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
* 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 | $1,510 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$134 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$87
|
||
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.
$300,000
PROJECTED PRICE
$1,510
PROJECTED RENT
0.50%
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
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
7.58
YEARS SAVED
$33,837
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,510
LIST RENT -
$0.8
LIST RENT PER SQFT
-
$1,620
COMP ESTIMATED VALUE -
$0.86
COMP AVG. RENT PER SQFT
Comps Range
-
4440 Viking Road Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 1973
- Rent
- Rent Per SQFT
- $1,510
- $0.80
-
4414 East Flamingo Road Las Vegas, NV 1
- 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975
LEASED 01/22/20- Rent
- Rent Per SQFT
- $1,400
- $0.82
-
3969 Florrie Circle Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1977
LEASED 09/17/20- Rent
- Rent Per SQFT
- $1,495
- $0.86
-
4499 Casa Sencia Street Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1973
LEASED 10/01/20- Rent
- Rent Per SQFT
- $1,495
- $0.88
-
4468 Flamingo Road Las Vegas, NV 5
- 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965
LEASED 09/18/20- Rent
- Rent Per SQFT
- $1,595
- $0.89
PROPERTY LISTING DETAILS
1.702.419.1338
Keller Williams Southern Nevada
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256575
Last Updated: 12/18/2020
