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4616 Lilliput Lane Las Vegas, NV 89102

5 Beds 1 Baths 2,550 sqft Built 1963

$349,999

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1963
  • Price/Sqft : $137.25
  • 4 Days on Market
  • MLS # : 2246119
  • Updated Date : 11/06/2020 at 13:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,550 sqft
  • Baths : 1 full
Listing Agent

Homers Realty Llc

Listing Agent's Description

Here is a beautiful, well laid out house with 5 rooms and a bonus room. Three of the rooms are large enough to be used simply as bedrooms or as a multipurpose room, like a home gym. The house features brand new wood flooring. There is NO HOA fees as a bonus. The house is located in a quiet neighborhood, not far from the Strip, China Town, and World-famous Vegas hotels. There are 2 cars parking on the driveway.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89102

ZipNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Vegas Verdes Elementary School Primary Regular 543 25 8
James Cashman Middle School Middle Magnet 1,601 61 NA
Ed W. Clark High School High Magnet 3,066 129 7

Vegas Verdes Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 25
8
GreatSchools Rating

James Cashman Middle School

  • Education Level: Middle
  • # of students: 1,601
  • # of teachers: 61
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$314,999$384,999$349,999

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,291
Property Tax -$133
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$150

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.

$349,999

PROJECTED PRICE

$1,770

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.4%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,499
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$41,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7703$1,7954$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 4616 Lilliput Lane Las Vegas, NV 2
    • 5 beds 1 baths ∙ 2,550 Sqft ∙ Built 1963 5 beds 1 baths ∙ 2,550 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.69
    •  
  • 4309 El Camino Avenue Las Vegas, NV 1
    • 4 beds 1 baths ∙ 2,285 Sqft ∙ Built 1960 4 beds 1 baths ∙ 2,285 Sqft ∙ Built 1960
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.66
    •  
  • 5849 Cherokee Las Vegas, NV 3
    • 4 beds 1 baths ∙ 2,205 Sqft ∙ Built 1979 4 beds 1 baths ∙ 2,205 Sqft ∙ Built 1979
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 4005 Esmeralda Avenue Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,657 Sqft ∙ Built 1961 5 beds 2 baths ∙ 2,657 Sqft ∙ Built 1961
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 2756 Potosi Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Daniel Jiang
1.206.788.6837
Homers Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246119
Last Updated: 11/06/2020
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