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521 5th Street Boulder City, NV 89005

2 Beds 1 Baths 924 sqft Built 1942

$275,000

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1942
  • Price/Sqft : $297.62
  • 21 Days on Market
  • MLS # : 2242045
  • Updated Date : 11/13/2020 at 13:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 924 sqft
  • Baths : 1 full
Listing Agent

Lvsweethomes Realty

Listing Agent's Description

Welcome to this Historical Boulder City home that features 2 beds, 1 bath, all new carpet, renovated kitchen, charming open feel, upgraded windows, super deep closets in the bedrooms, newer water heater, mature landscaping w/ fully fenced large front and back yards, RV Parking, and just minutes away from Historical Downtown Boulder City and Lake Mead.

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$1,015
Property Tax -$86
Property Insurance -$45
Property Management Fees -$119
CASH FLOW
-$34

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.

$275,000

PROJECTED PRICE

$1,230

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$20,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,364

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,2303$1,2954$1,400
$1,400
RENT COMPS ANALYSIS
  • 521 5th Street Boulder City, NV 2
    • 2 beds 1 baths ∙ 924 Sqft ∙ Built 1942 2 beds 1 baths ∙ 924 Sqft ∙ Built 1942
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $1.33
    •  
  • 552 Date Street Boulder City, NV 1
    • 2 beds 0 baths ∙ 804 Sqft ∙ Built 1942 2 beds 0 baths ∙ 804 Sqft ∙ Built 1942
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $1.18
    •  
  • 1612 Arizona Street Boulder City, NV 3
    • 2 beds 2 baths ∙ 843 Sqft ∙ Built 1942 2 beds 2 baths ∙ 843 Sqft ∙ Built 1942
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.54
    •  
  • 664 H Avenue Boulder City, NV 4
    • 2 beds 1 baths ∙ 820 Sqft ∙ Built 1938 2 beds 1 baths ∙ 820 Sqft ∙ Built 1938
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.71
    •  
PROPERTY LISTING DETAILS
Windy Humphreys-goss
1.702.523.8128
Lvsweethomes Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242045
Last Updated: 11/13/2020
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