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4482 Palencia Avenue Las Vegas, NV 89121

3 Beds 2 Baths 1,722 sqft Built 1970

$299,999

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $174.22
  • 19 Days on Market
  • MLS # : 2249250
  • Updated Date : 12/04/2020 at 16:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,722 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

NO HOA-Single story with sparkling clean pool and spa! *RV PARKING* 3 bedroom, 2 bath home, with 2 car garage, in a very quiet neighborhood. Brick fireplace, microwave and oven recently replaced, brand new carpet. Large backyard with covered patio. Large entry porch with courtyard area, low maintenance desert landscaping. MUST SEE!

SEE MORE

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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 E. Ferron Elementary School Primary Regular 538 29 5
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

William E. Ferron Elementary School

  • Education Level: Primary
  • # of students: 538
  • # of teachers: 29
5
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

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

$269,999$329,999$299,999

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,107
Property Tax -$127
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$6

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.

$299,999

PROJECTED PRICE

$1,420

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$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 45% 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 $224,999
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$25,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,446

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,352
1$1,3522$1,4003$1,4204$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 4482 Palencia Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.82
    •  
  • 4585 Magdalena Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,352
    • $0.75
    •  
  • 4414 East Flamingo Road Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1975
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 4468 Flamingo Road Las Vegas, NV 4
    • 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4525 Charles Ronald Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1965
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
John M Gafford
1.702.907.9033
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249250
Last Updated: 12/04/2020
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