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5433 Longridge Avenue Las Vegas, NV 89146

4 Beds 1 Baths 2,120 sqft Built 1963

$300,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $141.51
  • 8 Days on Market
  • MLS # : 2280433
  • Updated Date : 03/24/2021 at 21:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,120 sqft
  • Baths : 1 full
Listing Agent

Re/max Central

Listing Agent's Description

Excellent opportunity for a four-bedroom home with a pool, ready for updates and renovations. Beautiful brick-faced home in a quiet, centrally-located neighborhood. A formal entry leads to the front living room which is anchored by a real wood-burning fireplace. The downstairs bedroom and 3/4 bath is perfect for multi-gen, guest room, or a home office! The upstairs features three great-sized rooms, including the primary bedroom. Enjoy the beautiful backyard pool and covered patio, perfect for entertaining!

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: 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,042
Property Tax -$133
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$177

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.

$300,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.51%

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$34,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4214$1,4955$1,540
$1,540
RENT COMPS ANALYSIS
  • 5433 Longridge Avenue Las Vegas, NV 5
    • 4 beds 1 baths ∙ 2,120 Sqft ∙ Built 1963 4 beds 1 baths ∙ 2,120 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.73
    •  
  • 5405 Del Rey Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 1964
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.77
    •  
  • 5313 Westleigh Avenue Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,947 Sqft ∙ Built 1964 3 beds 1 baths ∙ 1,947 Sqft ∙ Built 1964
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.72
    •  
  • 6121 Evergreen Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1960 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1960
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,421
    • $0.64
    •  
  • 5844 Oakey Boulevard Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,100 Sqft ∙ Built 1980
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.71
    •  
PROPERTY LISTING DETAILS
Ryan Grauberger
1.702.655.7926
Re/max Central
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280433
Last Updated: 03/24/2021
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