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5343 Tamarus Street Las Vegas, NV 89119

5 Beds 3 Baths 2,721 sqft Built 1985

$549,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1985
  • Price/Sqft : $202.09
  • 13 Days on Market
  • MLS # : 2241598
  • Updated Date : 10/30/2020 at 10:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,721 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

INCREDIBLE 5 BEDROOM 2 BATH RANCH STYLE HOME ON A HUGE 1/2 ACRE LOT - AWESOME LOCATION BEING CLOSE TO AIRPORT, UNLV, FREEWAY ACCESS AND SHOPPING - FULLY REMODELED WITH HOME WITH GREAT FLOOR PLAN, QUARTZ COUNTERTOPS, BRAND NEW UPGRADED CARPET AND WALK IN CLOSETS IN EVERY ROOM! ***RV PARKING AND ZONED FOR HORSES***

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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
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
 

$494,910$604,890$549,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$2,029
Property Tax -$210
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$238

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.

$549,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.40%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$23,523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,299

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0993$2,2004$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 5343 Tamarus Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,721 Sqft ∙ Built 1985 5 beds 3 baths ∙ 2,721 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 3468 Misty Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1978
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 2043 Mohigan Way Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,731 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,731 Sqft ∙ Built 1970
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.77
    •  
  • 5888 S Pecos Road Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 1992
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.92
    •  
  • 1888 Roxford Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1979
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kaitlin E Chaffin
1.702.844.0166
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241598
Last Updated: 10/30/2020
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