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5415 Tamarus Street Las Vegas, NV 89119

4 Beds 2 Baths 1,456 sqft Built 1971

$339,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1971
  • Price/Sqft : $233.45
  • 3 Days on Market
  • MLS # : 2261191
  • Updated Date : 01/16/2021 at 22:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Re/max Titans

Listing Agent's Description

Beautiful single story house in a equestrian community, with a share 5 acre horse track, and facilities with lighted arena. Close to the University of Nevada, Las Vegas and the Las Vegas Strip.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$1,181
Property Tax -$116
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$41

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.

$339,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.42%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,799

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,405

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3003$1,3804$1,4305$1,450
$1,450
RENT COMPS ANALYSIS
  • 5415 Tamarus Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1971 4 beds 2 baths ∙ 1,456 Sqft ∙ Built 1971
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.98
    •  
  • 1031 East Hacienda Avenue Las Vegas, NV 1
    • 4 beds 1 baths ∙ 1,296 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,296 Sqft ∙ Built 1963
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.89
    •  
  • 5119 Reeder Circle Las Vegas, NV 2
    • 5 beds 2 baths ∙ 1,288 Sqft ∙ Built 1974 5 beds 2 baths ∙ 1,288 Sqft ∙ Built 1974
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.01
    •  
  • 5272 Maryland Parkway #a Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 1978
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.02
    •  
  • 1661 Papaya Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1978
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Perla Y Herrera
1.702.277.4994
Re/max Titans
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261191
Last Updated: 01/16/2021
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