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4561 Little Wren Lane Las Vegas, NV 89115

3 Beds 3 Baths 1,258 sqft Built 1997

$230,000

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $182.83
  • 6 Days on Market
  • MLS # : 2261294
  • Updated Date : 01/15/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,258 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

Gorgeous 3 bedroom, 2 1/2 bath, 2 car garage home, fresh paint, spacious open layout!. This home is ready for your personal touches!!

SEE MORE

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: Songbirds

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $78k296k

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

Neighborhood: Songbirds

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8521603

* 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
Ruben Diaz Elementary School Primary Regular 794 45 4
Mario C And Joanne Monaco Middle School Middle Regular 1,426 53 NA
Sunrise Mountain High School High Regular 2,526 113 2

Ruben Diaz Elementary School

  • Education Level: Primary
  • # of students: 794
  • # of teachers: 45
4
GreatSchools Rating

Mario C And Joanne Monaco Middle School

  • Education Level: Middle
  • # of students: 1,426
  • # of teachers: 53
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$799
Property Tax -$153
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$57

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.

$230,000

PROJECTED PRICE

$1,180

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.6%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$17,912

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,063

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$9953$1,1754$1,1805$1,225
$1,225
RENT COMPS ANALYSIS
  • 4561 Little Wren Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,258 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,258 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.94
    •  
  • 1501 Linnbaker Lane #101 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1994
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.83
    •  
  • 1401 Linnbaker Lane #204 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,197 Sqft ∙ Built 1995
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.83
    •  
  • 4312 Wyndham Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2002
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.87
    •  
  • 5173 Bellaria Place Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,447 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,447 Sqft ∙ Built 2006
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.85
    •  
PROPERTY LISTING DETAILS
Michelle Zamora
1.702.497.5962
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261294
Last Updated: 01/15/2021
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