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5225 Del Rey Avenue Las Vegas, NV 89146

5 Beds 1 Baths 2,361 sqft Built 1962

$299,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1962
  • Price/Sqft : $126.64
  • 5 Days on Market
  • MLS # : 2264819
  • Updated Date : 01/29/2021 at 20:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,361 sqft
  • Baths : 1 full
Listing Agent

Simply Vegas

Listing Agent's Description

Stunning remodel with modern touches located in Charleston Heights! Property has been completely renovated top to bottom with the following- light wood-like floor, shaker cabinets, granite counters, tall baseboards, fresh paint, and beautiful front and backyard landscaping. The HVAC is only 5 years old with a brand new motor, and the water heater was just replaced upon renovation. Plumbing has been recently inspected and cleaned.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,039
Property Tax -$124
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$345

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.

$299,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.57%

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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$1,039

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$52,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,9004$1,9755$1,995
$1,995
RENT COMPS ANALYSIS
  • 5225 Del Rey Avenue Las Vegas, NV 2
    • 5 beds 1 baths ∙ 2,361 Sqft ∙ Built 1962 5 beds 1 baths ∙ 2,361 Sqft ∙ Built 1962
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 5121 Dancer Way Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 1980
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 4005 Esmeralda Avenue Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,657 Sqft ∙ Built 1961 5 beds 2 baths ∙ 2,657 Sqft ∙ Built 1961
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 4616 Lilliput Lane Las Vegas, NV 4
    • 5 beds 1 baths ∙ 2,550 Sqft ∙ Built 1963 5 beds 1 baths ∙ 2,550 Sqft ∙ Built 1963
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.77
    •  
  • 2756 Potosi Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Megan Laduke
1.702.513.3842
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264819
Last Updated: 01/29/2021
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