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5152 Alfalfa Street Las Vegas, NV 89120

4 Beds 1 Baths 1,718 sqft Built 1979

$329,990

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $192.08
  • 3 Days on Market
  • MLS # : 2250980
  • Updated Date : 11/28/2020 at 15:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,718 sqft
  • Baths : 1 full
Listing Agent

O48 Realty

Listing Agent's Description

This Incredible Single Story Home is the ONE! This Gem Features High Vaulted Ceilings, Newly Installed Laminate and Tile Throughout the Main Living Areas, a Bright and Open Floor Plan. Cozy up and Relax Next to the Brick Fireplace in the Family Room, Newly Painted Kitchen Cabinetry, Breakfast Bar, and All Appliances Included! A Backyard Yard Paradise Nestled on an Expansive Lot with a Covered Patio, Fire Pit, Sparkling Pool and Spa with Freshly Painted Cool Decking. Truly the Perfect Home for Entertaining! Click the Movie Reel Link Above to Enjoy a Virtual Tour.

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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 French Elementary School Primary Regular 447 25 8
Helen C. Cannon Middle School Middle Regular 867 39 NA
Del Sol High School High Regular 2,051 73 2

Doris French Elementary School

  • Education Level: Primary
  • # of students: 447
  • # of teachers: 25
8
GreatSchools Rating

Helen C. Cannon Middle School

  • Education Level: Middle
  • # of students: 867
  • # of teachers: 39
NA
GreatSchools Rating

Del Sol High School

  • Education Level: High
  • # of students: 2,051
  • # of teachers: 73
2
GreatSchools Rating
 

$296,991$362,989$329,990

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$1,218
Property Tax -$162
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$51

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.

$329,990

PROJECTED PRICE

$1,610

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,197

INVESTMENT

$93,197

Down Payment
$82,498
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,498
Loan Amount $247,493
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$32,214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,606

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6104$1,6855$1,750
$1,750
RENT COMPS ANALYSIS
  • 5152 Alfalfa Street Las Vegas, NV 3
    • 4 beds 1 baths ∙ 1,718 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,718 Sqft ∙ Built 1979
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.94
    •  
  • 5372 Bramble Lane Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,694 Sqft ∙ Built 1976 3 beds 1 baths ∙ 1,694 Sqft ∙ Built 1976
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 3585 Winner Drive Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,598 Sqft ∙ Built 1979 3 beds 1 baths ∙ 1,598 Sqft ∙ Built 1979
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 3948 Boca Grande Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,829 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.92
    •  
  • 3938 Irongate Las Vegas, NV 5
    • 5 beds 2 baths ∙ 1,817 Sqft ∙ Built 1973 5 beds 2 baths ∙ 1,817 Sqft ∙ Built 1973
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Hannah Harris
1.702.287.2015
O48 Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250980
Last Updated: 11/28/2020
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