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4890 West Montara Circle Las Vegas, NV 89121

3 Beds 2 Baths 1,426 sqft Built 1974

$260,000

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1974
  • Price/Sqft : $182.33
  • 3 Days on Market
  • MLS # : 2273336
  • Updated Date : 02/27/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,426 sqft
  • Baths : 2 full
Listing Agent

Orange Realty Group Llc

Listing Agent's Description

Great curb appeal home w/3 bedrooms, 2 baths, 2 car garage on a corner lot. Beautifully updated w/wood "look" tile floors, soothing palette, vaulted ceilings, window blinds, ceiling fans, & a brick fireplace for the chilly AZ evenings. French doors to patio from the eat-in kitchen, neutral tile floor, SS appliances, & plenty of white cabinets w/hardware. Perfect gathering place for family & friends. Spacious bedrooms, ample closets, & updated baths w/designer touches. Enjoy the backyard covered patio w/room for a pool or herb garden. Community Park. Convenient location to Shopping, Dining, & Entertainment. Take a tour today & stop renting!

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: 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
Lewis E. Rowe Elementary School Primary Regular 657 39 6
C W Woodbury Middle School Middle Regular 902 39 NA
Del Sol High School High Regular 2,051 73 2

Lewis E. Rowe Elementary School

  • Education Level: Primary
  • # of students: 657
  • # of teachers: 39
6
GreatSchools Rating

C W Woodbury Middle School

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

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$903
Property Tax -$112
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$201

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.

$260,000

PROJECTED PRICE

$1,390

PROJECTED RENT

0.53%

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$16k$18k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

9.92

YEARS SAVED

$37,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,487

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3903$1,4954$1,6905$1,695
$1,695
RENT COMPS ANALYSIS
  • 4890 West Montara Circle Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,426 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.97
    •  
  • 3560 Casey Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,288 Sqft ∙ Built 1978
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.05
    •  
  • 2566 Paradise Village Way Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,548 Sqft ∙ Built 1973
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 4716 Summerhill Road Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,574 Sqft ∙ Built 1974 4 beds 1 baths ∙ 1,574 Sqft ∙ Built 1974
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $1.07
    •  
  • 4752 Mojave Road Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1976
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
PROPERTY LISTING DETAILS
Melvin L Galloway
1.702.250.5650
Orange Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273336
Last Updated: 02/27/2021
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