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4609 Nolan Lane Las Vegas, NV 89107

3 Beds 1 Baths 1,610 sqft Built 1961

$230,000

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1961
  • Price/Sqft : $142.86
  • 7 Days on Market
  • MLS # : 2263206
  • Updated Date : 01/21/2021 at 21:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,610 sqft
  • Baths : 1 full
Listing Agent

Life Realty District

Listing Agent's Description

3 bedrooms, 2 bath

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k296k

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

Neighborhood: Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8831603

* 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
E.w. Griffith Elementary School Primary Regular 578 27 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Western High School High Regular 2,534 112 2

E.w. Griffith Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 27
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$799
Property Tax -$111
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$173

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

$1,260

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$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 35% 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

9.33

YEARS SAVED

$29,763

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,401

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,260
1$1,2602$1,2753$1,4004$1,4305$1,450
$1,450
RENT COMPS ANALYSIS
  • 4609 Nolan Lane Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,610 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,610 Sqft ∙ Built 1961
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.78
    •  
  • 4419 Kay Place Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1953 3 beds 1 baths ∙ 1,800 Sqft ∙ Built 1953
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.71
    •  
  • 305 Minnesota Street Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,464 Sqft ∙ Built 1959
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 5513 Alta Drive Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,727 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,727 Sqft ∙ Built 1955
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.83
    •  
  • 4306 Baxter Place Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,483 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,483 Sqft ∙ Built 1955
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
PROPERTY LISTING DETAILS
Marycarmen Ruiz
1.702.303.6506
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263206
Last Updated: 01/21/2021
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