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4910 New York Avenue Las Vegas, NV 89104

4 Beds 2 Baths 1,994 sqft Built 1974

$309,500

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1974
  • Price/Sqft : $155.22
  • 4 Days on Market
  • MLS # : 2243852
  • Updated Date : 10/31/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

The Baird Group, Llc

Listing Agent's Description

OVER 10,000 SF CORNER LOT*NO HOA* SPACIOUS SINGLE STORY 4 BED WITH GARAGE AND RV PARKING. CHARMING WOOD BURNING BRICK FIREPLACE IN FAMILY ROOM. OPEN AND SPACIOUS AREA FLOWS INTO KITCHEN AND DINE. LARGE FRONT LIVING ROOM, OR USE AS HOME GYM OR DEN. PRIMARY BEDROOM INCLUDES DUAL CLOSETS AND BATHROOM. GARAGE HAS SEPARATE ENTRANCE WITH CENTRAL AC IN STORAGE ROOM, DUAL CAR DOOR AND OPENER. EXTERIOR BOASTS 3 COAT STUCCO, DUAL PANE WINDOWS, REAR CONCRETE PATIO AREA AND LOW MAINTENANCE EVES/LANDSCAPE. REAR ACCESS HAS DUAL RV GATES WITH CONCRETE PAD.

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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: Vegas Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Vegas Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Cyril Wengert Elementary School Primary Regular 613 33 6
Jerome Mack Middle School Middle Regular 1,275 56 NA
Chaparral High School High Regular 2,270 87 3

Cyril Wengert Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 33
6
GreatSchools Rating

Jerome Mack Middle School

  • Education Level: Middle
  • # of students: 1,275
  • # of teachers: 56
NA
GreatSchools Rating

Chaparral High School

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

$278,550$340,450$309,500

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,142
Property Tax -$119
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$16

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$309,500

PROJECTED PRICE

$1,430

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,768

INVESTMENT

$87,768

Down Payment
$77,375
Rehab Estimate
$5,750
Closing Costs
$4,643

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,142

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,375
Loan Amount $232,125
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,491

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3853$1,4304$1,4505$1,600
$1,600
RENT COMPS ANALYSIS
  • 4910 New York Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 1974 4 beds 2 baths ∙ 1,994 Sqft ∙ Built 1974
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.72
    •  
  • 2450 Tournament Street Las Vegas, NV 1
    • 3 beds 4 baths ∙ 1,798 Sqft ∙ Built 1966 3 beds 4 baths ∙ 1,798 Sqft ∙ Built 1966
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.75
    •  
  • 2434 Winterwood Boulevard Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 1969 3 beds 3 baths ∙ 2,084 Sqft ∙ Built 1969
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.66
    •  
  • 5419 Walton Heath Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,839 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,839 Sqft ∙ Built 1989
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 4452 East Wyoming Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 1977
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
PROPERTY LISTING DETAILS
Jeffrey D Thompson
1.702.296.4139
The Baird Group, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243852
Last Updated: 10/31/2020
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