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4449 Michigan Avenue Las Vegas, NV 89104

3 Beds 2 Baths 1,458 sqft Built 1978

$249,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $171.40
  • 5 Days on Market
  • MLS # : 2255470
  • Updated Date : 12/17/2020 at 00:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,458 sqft
  • Baths : 1 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

This home is in a neighborhood across from a park and school. Walking distance from transportation and shopping. This 1458 square foot single family home has 3 bedrooms and 1.5 bathrooms. Just needs a little TLC

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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: Vegas Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Vegas Manor

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
William Snyder Elementary School Primary Regular 936 45 4
Jerome Mack Middle School Middle Regular 1,275 56 NA
Chaparral High School High Regular 2,270 87 3

William Snyder Elementary School

  • Education Level: Primary
  • # of students: 936
  • # of teachers: 45
4
GreatSchools Rating

Jerome Mack Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 56
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$922
Property Tax -$112
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$42

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.

$249,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$22,392

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
  • $0.86

    LIST RENT PER SQFT
  • $1,272

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,2503$1,2504$1,2655$1,395
$1,395
RENT COMPS ANALYSIS
  • 4449 Michigan Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 1978
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
  • 4237 Sunrise Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1979
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.86
    •  
  • 305 Tybo Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 1971
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.85
    •  
  • 112 Romero Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,414 Sqft ∙ Built 1978
    property image
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,265
    • $0.89
    •  
  • 4525 Chicago Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1979
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jason M Abrams
1.702.683.1800
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255470
Last Updated: 12/17/2020
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