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4773 Harmon Avenue Las Vegas, NV 89121

3 Beds 2 Baths 1,898 sqft Built 1963

$255,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $134.35
  • 7 Days on Market
  • MLS # : 2253541
  • Updated Date : 12/07/2020 at 17:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,898 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great 3 Bedroom 2 Bathroom 1898 Sq. Ft. home near Boulder Station!! Converted Garage. Easy Access to the Strip via Harmon.

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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

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
J.m. Ullom Elementary School Primary Regular 723 38 3
C W Woodbury Middle School Middle Regular 902 39 NA
Chaparral High School High Regular 2,270 87 3

J.m. Ullom Elementary School

  • Education Level: Primary
  • # of students: 723
  • # of teachers: 38
3
GreatSchools Rating

C W Woodbury Middle School

  • Education Level: Middle
  • # of students: 902
  • # of teachers: 39
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

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

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$941
Property Tax -$89
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
$387

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

$1,600

PROJECTED RENT

0.63%

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$1.2M

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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 25% 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

13.42

YEARS SAVED

$63,309

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,628

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,352
1$1,3522$1,5953$1,5954$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 4773 Harmon Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1963
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 4585 Magdalena Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1979
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,352
    • $0.75
    •  
  • 5119 Margo Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1961 4 beds 2 baths ∙ 1,789 Sqft ∙ Built 1961
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4468 Flamingo Road Las Vegas, NV 3
    • 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965 3 beds 4 baths ∙ 1,784 Sqft ∙ Built 1965
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4525 Charles Ronald Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,840 Sqft ∙ Built 1965
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jim N Phan
1.702.596.9333
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253541
Last Updated: 12/07/2020
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