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4819 Fairfax Avenue Las Vegas, NV 89120

4 Beds 2 Baths 1,200 sqft Built 1970

INVESTimate

$229,999

List Price

$1,140

$1,026 - $1,254

Rent Est.

$251,550  ( +9.37%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1970
  • Price/Sqft : $191.67
  • 3 Days on Market
  • MLS # : 2224352
  • Updated Date : 08/24/2020 at 03:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,200 sqft
  • Baths : 2 full
Listing Agent

United Realty Group

Listing Agent's Description

Beautiful 4 bedroom home, wood like laminate through out the house, spacious kitchen with Granite countertops, covered patio in backyard with plenty of space and low maintenance.

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: 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
 

$206,999$252,999$229,999

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$849
Property Tax -$84
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$38

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.

$229,999

PROJECTED PRICE

$1,140

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.37%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,499
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$23,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,167

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,0503$1,1004$1,1005$1,140
$1,140
RENT COMPS ANALYSIS
  • 4819 Fairfax Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1970
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.95
    •  
  • 5038 Mountain Vista Street #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1972
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.99
    •  
  • 4713 Mill Valley Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,010 Sqft ∙ Built 1972
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $1.04
    •  
  • 5071 East Hacienda Avenue #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,168 Sqft ∙ Built 1979
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.94
    •  
  • 5038 Marin Street #3 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,200 Sqft ∙ Built 1973
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Sandra Flores
1.702.358.4939
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224352
Last Updated: 08/24/2020
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