Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

4547 Meridian Drive Las Vegas, NV 89147

3 Beds 2 Baths 1,284 sqft Built 1975

$314,999

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1975
  • Price/Sqft : $245.33
  • 3 Days on Market
  • MLS # : 2253695
  • Updated Date : 12/05/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,284 sqft
  • Baths : 2 full
Listing Agent

Forever Home Realty

Listing Agent's Description

Stylish three bedroom two bathroom single story with an exceptional remodel! Featuring premium flooring, upgraded kitchen counters & cabinets, stainless steel appliances and contemporary bathroom amenities- this home has it all! Stop in and tour for yourself today!!

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Pat A. Diskin Elementary School Primary Regular 686 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Durango High School High Regular 2,302 95 5

Pat A. Diskin Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$283,499$346,499$314,999

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,162
Property Tax -$117
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$180

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.

$314,999

PROJECTED PRICE

$1,270

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,249
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,377

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,3503$1,4004$1,4005$1,411
$1,411
RENT COMPS ANALYSIS
  • 4547 Meridian Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.99
    •  
  • 7028 Kenwood Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1977
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 7166 Galley Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,293 Sqft ∙ Built 1995 3 beds 1 baths ∙ 1,293 Sqft ∙ Built 1995
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
  • 7076 Grasswood Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,337 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,337 Sqft ∙ Built 1974
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.05
    •  
  • 4377 Chessman Way Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,293 Sqft ∙ Built 1995
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,411
    • $1.09
    •  
PROPERTY LISTING DETAILS
Nick Devitte
1.702.528.9913
Forever Home Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253695
Last Updated: 12/05/2020
BESbswy