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504 Soso Street Las Vegas, NV 89145

3 Beds 2 Baths 1,888 sqft Built 1995

$380,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $201.27
  • 4 Days on Market
  • MLS # : 2254713
  • Updated Date : 12/11/2020 at 15:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,888 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Great investment opportunity! Long term tenant in place that will stay with the sale of the property. Great location and no HOA. One story home with three car garage and a large backyard. Nicely kept carpet and tile flooring. Gray tile flooring in kitchen and family room. Large primary room with attached bathroom. Spacious spare rooms. Three car garage with a side yard for extra toys.

SEE MORE

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: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,402
Property Tax -$263
Property Insurance -$64
Property Management Fees -$119
CASH FLOW
-$258

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.

$380,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$8,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,647

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,7454$1,7955$1,799
$1,799
RENT COMPS ANALYSIS
  • 504 Soso Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.84
    •  
  • 8417 Aspenbrook Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 1993
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 8625 Desert Bird Drive Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.88
    •  
  • 8541 Summer Vista Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1995
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 8352 Aspenbrook Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1989
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.88
    •  
PROPERTY LISTING DETAILS
Erica Becker
1.702.526.2689
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254713
Last Updated: 12/11/2020
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