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4849 Rita Drive Las Vegas, NV 89121

4 Beds 1 Baths 1,328 sqft Built 1972

$245,000

List Price

$1,200

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1972
  • Price/Sqft : $184.49
  • 2 Days on Market
  • MLS # : 2250023
  • Updated Date : 11/21/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,328 sqft
  • Baths : 1 full
Listing Agent

Re/max Titans

Listing Agent's Description

Beautiful Renovated One Story Home! Open Floorplan throughout the home. Newly renovated Kitchen, tile flooring throughout the entire house. New paint! New flooring! Spacious backyard with shed! Must see! Will go fast!

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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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,080$1,320$1,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,200
EXPENSES Loan Payment -$904
Property Tax -$82
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$42

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.

$245,000

PROJECTED PRICE

$1,200

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$24,855

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,200

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,315

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2954$1,4805$1,500
$1,500
RENT COMPS ANALYSIS
  • 4849 Rita Drive Las Vegas, NV 2
    • 4 beds 1 baths ∙ 1,328 Sqft ∙ Built 1972 4 beds 1 baths ∙ 1,328 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.90
    •  
  • 5038 Marin Street #3 Las Vegas, NV 1
    • 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
    •  
  • 5151 Margo Drive Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,269 Sqft ∙ Built 1961 3 beds 1 baths ∙ 1,269 Sqft ∙ Built 1961
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.02
    •  
  • 5055 Killarney Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,500 Sqft ∙ Built 1974
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.99
    •  
  • 4859 San Rafael Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1964
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
PROPERTY LISTING DETAILS
Brian Arellano
1.702.408.7885
Re/max Titans
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250023
Last Updated: 11/21/2020
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