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5473 Palmyra Avenue Las Vegas, NV 89146

4 Beds 1 Baths 1,548 sqft Built 1979

$339,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $219.57
  • 3 Days on Market
  • MLS # : 2258677
  • Updated Date : 01/02/2021 at 06:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,548 sqft
  • Baths : 1 full
Listing Agent

1st Priority Realty, Llc

Listing Agent's Description

ABSOLUTELY GORGEOUS! NO REPO OR SHORT SALE! BEAUTIFULLY REMODELED ONE STORY WITH 4 FULL BEDROOMS IN GREAT SOUTHWEST AREA! CUSTOM CABINETS WITH NEW GRANITE COUNTERS AND FULL GLASS/TILE BACKSPLASH*NEW TWO TONED PAINT INSIDE & OUT OVER FRESH TEXTURE*FULL STAINLESS STEEL APPLIANCE PKG WITH FRIG, WASHER AND DRYER*PLUSH NEW CARPET AND PLANK WOOD TILE THRU-OUT*NEW FIXTURES, SINKS, FAUCETS, COVERED PATIO, CEILING FANS IN ALL ROOMS AND NEW WOOD BLINDS*NEW GRANITE COUNTERS IN MASTER BATHROOM INCLUDING LARGE MAKE-UP TABLE*SPARKLING POOL AND SPA, PROFESSINAL LANDSCAPE FRONT AND REAR, 3 CAR GARAGE WITH NEW GARAGE DOORS AND OPENERS, SECURITY BARS ALL AROUND, SECURED ENTRY AND ALL WITH NO HOA OR SID!!

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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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
Dr C. Owen Roundy Elementary School Primary Regular 876 49 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Ed W. Clark High School High Magnet 3,066 129 7

Dr C. Owen Roundy Elementary School

  • Education Level: Primary
  • # of students: 876
  • # of teachers: 49
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,254
Property Tax -$150
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$80

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

$1,500

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$20,298

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,467

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,4303$1,5004$1,5005$1,800
$1,800
RENT COMPS ANALYSIS
  • 5473 Palmyra Avenue Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,548 Sqft ∙ Built 1979 4 beds 1 baths ∙ 1,548 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 5335 Regal Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,458 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,458 Sqft ∙ Built 1971
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.89
    •  
  • 3009 Matterhorn Way #- Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,586 Sqft ∙ Built 1963
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.90
    •  
  • 3235 Mountain Spring Road Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1978 3 beds 1 baths ∙ 1,576 Sqft ∙ Built 1978
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.95
    •  
  • 3140 Lindell Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1979
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
PROPERTY LISTING DETAILS
Michael R Costello
1.702.596.8032
1st Priority Realty, Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258677
Last Updated: 01/02/2021
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