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5601 Alexander Road Las Vegas, NV 89130

3 Beds 1 Baths 1,866 sqft Built 1988

$415,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $222.40
  • 4 Days on Market
  • MLS # : 2249448
  • Updated Date : 11/19/2020 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,866 sqft
  • Baths : 1 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

THIS ONE WILL GO QUICKLY! BEAUTIFULLY WELL MAINTAINED 1/2 ACRE HOME! WITH A HUGE RV PARKING / WORK AREA! THIS PROPERTY IS ZONED FOR HORSES. THE REMODELED KITCHEN COMPLETE WITH GRANITE COUNTER TOPS, DOUBLE OVEN AND LARGE WALK IN PANTRY WILL MAKE YOU FEEL AT HOME. REMODELED BATHROOMS UPSTAIRS AND DOWN ADD TO THE COMFORT. THE HUGE MASTER BEDROOM UPSTAIRS IS SEPERATE FROM THE OTHERS WITH A LOFT SPACE UPSATIRS AS WELL. THE SECOND AND THIRD BEDROOMS ARE DOWNSTAIRS. A COUNTRY STONE FIREPLACE IN THE LIVING ROOM AND BAY WINDOW ALONG WITH VAULTED CEILINGS ADDS A WHOLE OTHER COMFORT LEVEL. THE LARGE REAR COVERED PATIO IN THE BACK YARD ADDS YET ANOTHER TOUCH TO THE LAID BACK LIFESTYLE. THIS PROPERTY WILL EASLIY ACCOMODATE A POOL, HORSES AND MOST ANYTHING YOU WISH TO ADD! DON'T MISS THE CHANCE TO MAKE THIS YOUR HOME!

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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: Northwest Area

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k375k

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

Neighborhood: Northwest Area

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10761727

* 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
Claude And Stella Parson Elementary School Primary Regular 452 26 3
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Claude And Stella Parson Elementary School

  • Education Level: Primary
  • # of students: 452
  • # of teachers: 26
3
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,531
Property Tax -$257
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$370

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.

$415,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,531

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,6955$1,850
$1,850
RENT COMPS ANALYSIS
  • 5601 Alexander Road Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 4421 Inez Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1991
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 4717 Pointe Decatur North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1994
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 4710 Biddle Way North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 1995
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 3721 Thom Boulevard Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,938 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,938 Sqft ∙ Built 1979
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Joseph Andreano
1.702.325.1602
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249448
Last Updated: 11/19/2020
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