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4660 Fairfax Avenue Las Vegas, NV 89120

3 Beds 2 Baths 1,440 sqft Built 1970

$275,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $190.97
  • 4 Days on Market
  • MLS # : 2252211
  • Updated Date : 12/04/2020 at 09:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full
Listing Agent

Rustic Properties

Listing Agent's Description

SPECTACULAR FULLY REMODELED 3 bedroom 2 bath home POOL home on a large lot!!The open concept kitchen and great room are perfect for entertaining! This home received a head to toe makeover and no stone was left unturned. ALL NEW interior/exterior paint, all new counter tops and stainless steel appliances in the kitchen!!

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
H A Harmon Elementary School Primary Regular 770 48 3
Francis Cortney Middle School Middle Regular 1,235 52 NA
Del Sol High School High Regular 2,051 73 2

H A Harmon Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 48
3
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$1,015
Property Tax -$103
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$8

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.

$275,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$23,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,260

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3254$1,3505$1,450
$1,450
RENT COMPS ANALYSIS
  • 4660 Fairfax Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,440 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 5383 Mountain Vista Street #8 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 1981
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.90
    •  
  • 5265 Saratoga Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,515 Sqft ∙ Built 1971
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.87
    •  
  • 5143 Woodruff Place Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 4550 San Rafael Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1978
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
PROPERTY LISTING DETAILS
Noah Bates
1.702.551.4381
Rustic Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252211
Last Updated: 12/04/2020
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