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5231 Barbara Way Las Vegas, NV 89119

3 Beds 2 Baths 1,992 sqft Built 1976

$309,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $155.57
  • 3 Days on Market
  • MLS # : 2247729
  • Updated Date : 11/13/2020 at 09:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,992 sqft
  • Baths : 1 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Amazing Strip and Mountain Views! This lovely home has a Spacious Family Room with a Wet Bar, French Doors to the Backyard and a Fireplace; Kitchen has Granite Counters with Gorgeous Backsplash and an Eating area; a Large, Pool Size, Low Maintenance Backyard with Covered Patio; an oversized 2 car garage for extra storage space; and All Appliances are Included. Conveniently located close to freeway, shopping, and dining.

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: 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
Jack Dailey Elementary School Primary Regular 698 41 6
Helen C. Cannon Middle School Middle Regular 867 39 NA
Del Sol High School High Regular 2,051 73 2

Jack Dailey Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 41
6
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
 

$278,910$340,890$309,900

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 -$1,143
Property Tax -$147
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$135

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.

$309,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.52%

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$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$39,906

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
  • $0.81

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,5004$1,6105$1,825
$1,825
RENT COMPS ANALYSIS
  • 5231 Barbara Way Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.81
    •  
  • 5108 Wilbur Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,776 Sqft ∙ Built 1963
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.79
    •  
  • 1961 Sunnyslope Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,718 Sqft ∙ Built 1973
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 2033 Rockledge Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 1978
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 909 Monika Way Las Vegas, NV 5
    • 4 beds 1 baths ∙ 1,992 Sqft ∙ Built 1975 4 beds 1 baths ∙ 1,992 Sqft ∙ Built 1975
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.92
    •  
PROPERTY LISTING DETAILS
Paul B Casper
1.702.373.0550
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247729
Last Updated: 11/13/2020
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