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4718 Cosley Drive Las Vegas, NV 89147

2 Beds 2 Baths 1,050 sqft Built 1988

INVESTimate

$255,000

List Price

$1,270

$1,143 - $1,397

Rent Est.

$280,271  ( +9.91%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1988
  • Price/Sqft : $242.86
  • 16 Days on Market
  • MLS # : 2220981
  • Updated Date : 08/18/2020 at 12:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,050 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

Wait- Stop- Look at this home!! Single story nestled in the community of Spring Valley. Create your own peaceful retreat in a larger than expected backyard with covered patio. The large eat in kitchen provides a great view onto your backyard. Enjoy winter evenings by the fire in your cozy family room. Each bedroom has direct access to it's own restroom Located across Tropicana from the East Gate at Spanish Trails in the BOOMING Southwest Valley. This great home is close to everything but quiet enough to feel away from it all. Amenities galore with shopping, restaurants and a hop skip and a jump to the 215 and anywhere in the valley in minutes. Simply a must see home!

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: 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$941
Property Tax -$127
Property Insurance -$48
HOA -$15
Property Management Fees -$119
CASH FLOW
$21

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.

$255,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.91%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,780

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,145

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1503$1,270
$1,270
RENT COMPS ANALYSIS
  • 4718 Cosley Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,050 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.21
    •  
  • 7950 Flamingo Road #2013 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,023 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,023 Sqft ∙ Built 1995
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $1.08
    •  
  • 7732 Rathburn Avenue Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,050 Sqft ∙ Built 1987 2 beds 3 baths ∙ 1,050 Sqft ∙ Built 1987
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Dave Reichert
1.702.591.1832
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220981
Last Updated: 08/18/2020
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