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5515 Coley Avenue Las Vegas, NV 89146

4 Beds 3 Baths 2,190 sqft Built 1979

$708,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1979
  • Price/Sqft : $323.29
  • 2 Days on Market
  • MLS # : 2277540
  • Updated Date : 03/14/2021 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,190 sqft
  • Baths : 2 full , 1 half
Listing Agent

Poa Commercial

Listing Agent's Description

Location!!! Few minutes to Chinatown and Strip! Close to I-15. This is a beautiful and clean corner property with fully fenced front yard. Big pool with covered patio. Desert landscaping & low maintenance. Extra 800 sq ft storage/warehouse built on ground . 6 wall mounted TVs are included. New renovation since July 2019: laminate wood flooring, paint interior landscaping, kitchen quartz countertop & backsplash, newer kitchen appliances, 3 new baths, new paint in pool & updated pool equipment. New up ground spa also included in the sale. Total 5 bedrooms & 3 bathrooms- no Knowledge of permit. Come & view, buyer will love it!

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: 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
 

$637,200$778,800$708,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$2,459
Property Tax -$243
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$891

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.

$708,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.28%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$193,370

INVESTMENT

$193,370

Down Payment
$177,000
Rehab Estimate
$5,750
Closing Costs
$10,620

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $177,000
Loan Amount $531,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,845

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,9954$2,0005$2,055
$2,055
RENT COMPS ANALYSIS
  • 5515 Coley Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
  • 5070 Tara Avenue #119 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,943 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,943 Sqft ∙ Built 1994
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 5849 Cherokee Las Vegas, NV 2
    • 4 beds 1 baths ∙ 2,205 Sqft ∙ Built 1979 4 beds 1 baths ∙ 2,205 Sqft ∙ Built 1979
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 2756 Potosi Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959 4 beds 2 baths ∙ 2,490 Sqft ∙ Built 1959
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 2920 Sean Darin Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,377 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,377 Sqft ∙ Built 1988
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,055
    • $0.86
    •  
PROPERTY LISTING DETAILS
Eleanor Cheng
1.702.338.3344
Poa Commercial
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277540
Last Updated: 03/14/2021
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