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4985 Chieftain Street Las Vegas, NV 89149

3 Beds 2 Baths 2,534 sqft Built 1979

$600,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $236.78
  • 4 Days on Market
  • MLS # : 2269707
  • Updated Date : 02/12/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,534 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Upgraded single story, one acre on a corner lot, ranch-style property in Rural Estate Zoning means plenty of room for horses, RV Garages and any other toys you need room for. Kitchen has been completely modernized with granite counter tops, new white cabinets, new appliances and new laminate flooring covers the entire residence. Rare to find brick wood burning fireplace in family room which adds lots of character. The parcel is completely cinder block walled with large double wrought iron gate access on the side. These Rural Estate Zoning properties are unique in Las Vegas with mostly custom built homes and lot size minimums of half an acre meaning neighbors will not be right on top of each other.

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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: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Centennial Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Dean Lamar Allen Elementary School Primary Regular 660 32 6
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Dean Lamar Allen Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 32
6
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$540,000$660,000$600,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$2,084
Property Tax -$283
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
-$712

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.

$600,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,131

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8503$2,0004$2,0995$2,200
$2,200
RENT COMPS ANALYSIS
  • 4985 Chieftain Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,534 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,534 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 9641 Christine View Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,214 Sqft ∙ Built 1999
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 3608 Connell Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,289 Sqft ∙ Built 1996
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 8629 Copper Falls Avenue #n/a Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1998
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.80
    •  
  • 9510 Desert Crest Court #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,654 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,654 Sqft ∙ Built 1992
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
John Rodriguez
1.702.277.8592
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269707
Last Updated: 02/12/2021
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