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4609 Milvio Avenue Las Vegas, NV 89141

4 Beds 4 Baths 2,967 sqft Built 2003

INVESTimate

$525,000

List Price

$2,450

$2,205 - $2,695

Rent Est.

$566,738  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $176.95
  • 9 Days on Market
  • MLS # : 2222617
  • Updated Date : 08/18/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,967 sqft
  • Baths : 3 full , 1 half
Listing Agent

Presidio Real Estate Services

Listing Agent's Description

BEAUTIFUL 2 STORY OPEN CONCEPT HOME WITH 4 BEDROOMS AND 3.5 BATHS. CEILING FANS THROUGHOUT THE HOME. BEAUTIFUL KITCHEN WITH PLENTY OF COUNTER TOP SPACE, LARGE ISLAND AND GRANITE COUNTER TOPS. SPACIOUS FAMILY ROOM, FORMAL LIVING ROOM, DINING ROOM, AND SEPARATE LAUNDRY ROOM. BACKYARD IS MADE FOR ENTERTAINING WITH BUILT IN BBQ, LARGE SWIMMING POOL/SPA, AND A LARGE PATIO.

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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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,937
Property Tax -$329
Property Insurance -$85
HOA -$65
Property Management Fees -$119
CASH FLOW
-$85

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.

$525,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$33,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,440

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4504$2,5505$2,650
$2,650
RENT COMPS ANALYSIS
  • 4609 Milvio Avenue Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,967 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.83
    •  
  • 11211 Gallery Echo Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,923 Sqft ∙ Built 2004
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 4432 Villa Toscano Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,025 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,025 Sqft ∙ Built 2002
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.79
    •  
  • 5052 Esposito Avenue Las Vegas, NV 4
    • 3 beds 4 baths ∙ 3,096 Sqft ∙ Built 2001 3 beds 4 baths ∙ 3,096 Sqft ∙ Built 2001
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
  • 10588 Isola Bella Street Las Vegas, NV 5
    • 5 beds 4 baths ∙ 2,967 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,967 Sqft ∙ Built 2001
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Bart Zimmer
1.702.400.3992
Presidio Real Estate Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222617
Last Updated: 08/18/2020
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