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5144 Via De Palma Drive Las Vegas, NV 89146

3 Beds 2 Baths 1,585 sqft Built 1965

$269,999

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $170.35
  • 3 Days on Market
  • MLS # : 2248189
  • Updated Date : 11/14/2020 at 19:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,585 sqft
  • Baths : 2 full
Listing Agent

Precision Realty

Listing Agent's Description

Centrally located, cozy single story home with 3 beds, 2 baths, and 2 car attached garage. Beautiful kitchen with tile backsplash, granite counters and stainless steel appliances, and breakfast bar. Home has tile flooring and updated bathrooms!

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Dr C. Owen Roundy Elementary School Primary Regular 876 49 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Ed W. Clark High School High Magnet 3,066 129 7

Dr C. Owen Roundy Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 49
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$242,999$296,999$269,999

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$996
Property Tax -$102
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$115

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.

$269,999

PROJECTED PRICE

$1,390

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,499
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$34,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,510

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3903$1,4304$1,5005$1,695
$1,695
RENT COMPS ANALYSIS
  • 5144 Via De Palma Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.88
    •  
  • 4729 Cinderella Lane Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1973 3 beds 1 baths ∙ 1,416 Sqft ∙ Built 1973
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.97
    •  
  • 3009 Matterhorn Way #- Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1963
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.90
    •  
  • 3235 Mountain Spring Road Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1978
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 4624 Cinderella Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1963
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.99
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248189
Last Updated: 11/14/2020
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