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5112 Del Monte Avenue Las Vegas, NV 89146

3 Beds 2 Baths 2,006 sqft Built 1962

$290,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $144.57
  • 2 Days on Market
  • MLS # : 2251058
  • Updated Date : 11/28/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,006 sqft
  • Baths : 2 full
Listing Agent

Renaissance Realty Inc

Listing Agent's Description

Here's the home everyone's waiting to come on the market: Landscaped corner lot, Multi-gen, 3 bed single story, PLUS a casita with huge kitchen, bed, and bath. Tons of parking, detached garage and RV gate. Just moments from Decatur and Charleston .Huge investment opportunity or personalized dream home for $300k. Absolutely fantastic guest quarters with separate entrance and kitchen. Beautifully cared for home with French doors, ceramic floors and many many unexpected upgrades in this extremely desirable casita / single story home. You won't find another.

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

Zip Code: 89146

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Zip Code: 89146

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9651768

* 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
Doris Hancock Elementary School Primary Regular 552 29 2
Hyde Park Middle School Middle Magnet 1,699 69 NA
Bonanza High School High Regular 2,003 83 3

Doris Hancock Elementary School

  • Education Level: Primary
  • # of students: 552
  • # of teachers: 29
2
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,070
Property Tax -$108
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$237

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.

$290,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$47,448

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3953$1,4004$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 5112 Del Monte Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1962 3 beds 2 baths ∙ 2,006 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 5432 Mountain View Drive Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1964
    LEASED 09/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.75
    •  
  • 5405 Del Rey Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1964
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
  • 5313 Westleigh Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,947 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,947 Sqft ∙ Built 1964
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.72
    •  
  • 5124 Del Monte Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1962 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1962
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
John A Gobber
1.702.400.4280
Renaissance Realty Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251058
Last Updated: 11/28/2020
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