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4705 Alta Drive Las Vegas, NV 89107

4 Beds 2 Baths 1,521 sqft Built 1962

$274,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $180.74
  • 4 Days on Market
  • MLS # : 2249476
  • Updated Date : 11/21/2020 at 14:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,521 sqft
  • Baths : 1 full , 1 half
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

NEWLY REMODELED! This 4 bedroom home has been completely renovated with new paint inside and out, new waterproof vinly plank flooring, white shaker cabinets, beautiful quartz countertops, and new carpet. It features a bright and open floor plan with a separate laundry room. It has a pool size yard that's left as a blank canvas for the next buyer's backyard oasis. Centrally located near shopping centers, schools, restaurants, and just minutes from the Las Vegas strip. All stainless appliances included. NO HOA! Easy maintenance front yard landscaping. Extended driveway and covered carport. THIS HOME IS WORTH SEEING!

SEE MORE

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

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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,014
Property Tax -$110
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$20

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.

$274,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.48%

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-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$22,257

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,437

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,4004$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 4705 Alta Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,521 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.87
    •  
  • 5208 Mountain View Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,552 Sqft ∙ Built 1962
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.87
    •  
  • 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
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 4306 Baxter Place Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,483 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,483 Sqft ∙ Built 1955
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 376 Xavier Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1959 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 1959
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Mariel Pamintuan-esguerr
1.702.340.5795
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249476
Last Updated: 11/21/2020
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