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4709 Illustrious Street Las Vegas, NV 89147

4 Beds 3 Baths 2,449 sqft Built 1988

$399,999

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $163.33
  • 2 Days on Market
  • MLS # : 2270093
  • Updated Date : 02/14/2021 at 01:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,449 sqft
  • Baths : 3 full
Listing Agent

Habitat Real Estate

Listing Agent's Description

Beautiful 4 Bed, 3 Bath house with 3 car garage. Kitchen has granite countertops with resurfaced cabinets. Outside is a large pool with a spa combo with plenty of space to have a gathering. All three bathrooms have been renovated with amazing tile designs. The master bathroom has jets for relaxing after a long day of work. The Den is a large 20 x 18 space for a game room, computer room, and many more ideas to best suit what is needed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Frank Kim Elementary School Primary Regular 575 34 6
Grant Sawyer Middle School Middle Regular 1,308 52 NA
Durango High School High Regular 2,302 95 5

Frank Kim Elementary School

  • Education Level: Primary
  • # of students: 575
  • # of teachers: 34
6
GreatSchools Rating

Grant Sawyer Middle School

  • Education Level: Middle
  • # of students: 1,308
  • # of teachers: 52
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$359,999$439,999$399,999

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,389
Property Tax -$227
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$160

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.

$399,999

PROJECTED PRICE

$1,970

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$41,363

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,155

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,9704$2,0505$2,440
$2,440
RENT COMPS ANALYSIS
  • 4709 Illustrious Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.80
    •  
  • 7668 Montefrio Avenue Las Vegas, NV 1
    • 5 beds 2 baths ∙ 2,121 Sqft ∙ Built 2005 5 beds 2 baths ∙ 2,121 Sqft ∙ Built 2005
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 4738 Beaconsfield Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1987
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 7444 Shangri La Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1989
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.90
    •  
  • 4708 Beaconsfield Street Las Vegas, NV 5
    • 5 beds 3 baths ∙ 2,449 Sqft ∙ Built 1987 5 beds 3 baths ∙ 2,449 Sqft ∙ Built 1987
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.00
    •  
PROPERTY LISTING DETAILS
Denzel T Vasquez
1.702.517.8941
Habitat Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270093
Last Updated: 02/14/2021
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