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445 Sari Drive Las Vegas, NV 89110

4 Beds 1 Baths 2,253 sqft Built 1984

$349,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $155.30
  • 16 Days on Market
  • MLS # : 2276649
  • Updated Date : 03/20/2021 at 14:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,253 sqft
  • Baths : 1 full
Listing Agent

Limestone Investments Llc

Listing Agent's Description

Wow! No HOA, no sidewalks or streetlights. Super size lot compared to many areas, about a half acre. 5 bed according to tax records...really it's 4 bedroom with a master sitting room I believe. 3 baths and a two car. The incredible part is two carports with complete servicing for RV's. The inside needs updating and is ready for you to bring the home up to neighborhood standards if you wish. The partial empty gated lot is perfect for toy storage and boats, whatever it's huge. The owner will vacate 18-21 March 2021 for you to look with your agent and make your best offer. These are the only days for viewing. Owner prefers to know the agent and client have seen the property. The owner might possibly want up to 50 days post possession.

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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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Mervin Iverson Elementary School Primary Regular 870 43 7
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Mervin Iverson Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 43
7
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,215
Property Tax -$225
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$139

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.

$349,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$32,500

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6753$1,7704$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 445 Sari Drive Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,253 Sqft ∙ Built 1984 4 beds 1 baths ∙ 2,253 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.79
    •  
  • 1017 Pearl Peak Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 6567 Tulip Garden Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.68
    •  
  • 1445 Tangerine Rose Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 1206 Mint Julep Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Barb Eagan
1.702.759.9724
Limestone Investments Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276649
Last Updated: 03/20/2021
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