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5534 Waltham Lane Las Vegas, NV 89122

3 Beds 2 Baths 1,568 sqft Built 1971

INVESTimate

$215,000

List Price

$1,250

$1,125 - $1,375

Rent Est.

$242,047  ( +12.58%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1971
  • Price/Sqft : $137.12
  • 9 Days on Market
  • MLS # : 2222676
  • Updated Date : 08/18/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Neon Real Estate And Property

Listing Agent's Description

Beautiful Pool with one story home on large lot! Covered courtyard at front entry. Saltillo tile through out. No Carpet!! All appliances included. Game room off kitchen. Large pool with low maintenance yard.

SEE MORE

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: Whitney

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $75k296k

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

Neighborhood: Whitney

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9301603

* 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
Whitney Elementary School Primary Regular 553 32 4
Francis Cortney Middle School Middle Regular 1,235 52 NA
Basic High School High Regular 2,367 100 3

Whitney Elementary School

  • Education Level: Primary
  • # of students: 553
  • # of teachers: 32
4
GreatSchools Rating

Francis Cortney Middle School

  • Education Level: Middle
  • # of students: 1,235
  • # of teachers: 52
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$793
Property Tax -$95
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
$185

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.

$215,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.58%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$35,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,254

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1503$1,2504$1,2505$1,375
$1,375
RENT COMPS ANALYSIS
  • 5534 Waltham Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1971
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 5409 Northridge Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,376 Sqft ∙ Built 1971
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.80
    •  
  • 5119 Carmel Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1974
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.79
    •  
  • 5268 Manassas Ave Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 1978
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.77
    •  
  • 5298 Rappahanock Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,635 Sqft ∙ Built 1979
    LEASED 03/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.84
    •  
PROPERTY LISTING DETAILS
Steve Cross
1.702.595.4241
Neon Real Estate And Property
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222676
Last Updated: 08/18/2020
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