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505 Stanford Street Las Vegas, NV 89107

3 Beds 1 Baths 934 sqft Built 1956

$192,500

List Price

$910

$819 - $1K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1956
  • Price/Sqft : $206.10
  • 5 Days on Market
  • MLS # : 2247531
  • Updated Date : 11/12/2020 at 12:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 934 sqft
  • Baths : 1 full
Listing Agent

Wardley Real Estate

Listing Agent's Description

Come see this 3 bedroom 1 bathroom home with new ceramic tile floors throughout, updated bathroom, fresh paint and new fixtures. Historic doors used on the barn style bedroom entry and beautiful wood open beam ceilings. All windows have been updated with energy efficient dual panes. It has a separate laundry room around back and a full covered patio to beat the heat. The backyard is very spacious with a shed and new desert landscape, while the front boast a green curb appeal with an extra large driveway. This is too cute to pass up, schedule an appointment soon!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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.t. Mcwilliams Elementary School Primary Regular 730 40 4
Robert O. Gibson Middle School Middle Magnet 1,293 57 NA
Western High School High Regular 2,534 112 2

J.t. Mcwilliams Elementary School

  • Education Level: Primary
  • # of students: 730
  • # of teachers: 40
4
GreatSchools Rating

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$173,250$211,750$192,500

PURCHASE PRICE

$819$1,001$910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $910
EXPENSES Loan Payment -$710
Property Tax -$71
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
-$36

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.

$192,500

PROJECTED PRICE

$910

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,763

INVESTMENT

$56,763

Down Payment
$48,125
Rehab Estimate
$5,750
Closing Costs
$2,888

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$710

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,125
Loan Amount $144,375
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$11,259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $910

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $920

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$910
1$9102$9753$1,2004$1,2505$1,250
$1,250
RENT COMPS ANALYSIS
  • 505 Stanford Street Las Vegas, NV 1
    • 3 beds 1 baths ∙ 934 Sqft ∙ Built 1956 3 beds 1 baths ∙ 934 Sqft ∙ Built 1956
    • Rent
    • Rent Per SQFT
    •  
    • $910
    • $0.97
    •  
  • 505 Yale Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,034 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,034 Sqft ∙ Built 1955
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $975
    • $0.94
    •  
  • 5821 Vegas Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.96
    •  
  • 5905 Shawnee Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,208 Sqft ∙ Built 1960
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 601 Decatur Boulevard Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,239 Sqft ∙ Built 1955 4 beds 1 baths ∙ 1,239 Sqft ∙ Built 1955
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
PROPERTY LISTING DETAILS
Jr Kersey
1.909.684.7526
Wardley Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247531
Last Updated: 11/12/2020
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