Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5620 Nimes Avenue Las Vegas, NV 89141

3 Beds 3 Baths 2,190 sqft Built 2001

INVESTimate

$350,000

List Price

$1,500

$1,350 - $1,650

Rent Est.

$377,825  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $159.82
  • 6 Days on Market
  • MLS # : 2223902
  • Updated Date : 08/21/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,190 sqft
  • Baths : 3 full
Listing Agent

Elite Realty

Listing Agent's Description

A hard to find home with 2 dedicated Masters! One down and one up. Each have full baths and large spacious closets. This is a gated community in Southern Highlands with community pool and spa. There are beautiful hardwood floors in the living room. Granite counters in the kitchen, a pantry, storage and a large loft. A great home for multi-generational living or roommates.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

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

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,291
Property Tax -$219
Property Insurance -$70
HOA -$160
Property Management Fees -$119
CASH FLOW
-$359

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.

$350,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,265

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
  • $0.68

    LIST RENT PER SQFT
  • $1,659

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6504$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 5620 Nimes Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.68
    •  
  • 10965 Sospel Place Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2001
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 10962 Saint Rafael Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2000
    LEASED 11/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 5430 White Truffles Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2010
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 5620 Nimes Avenue #x Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,190 Sqft ∙ Built 2001
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.78
    •  
PROPERTY LISTING DETAILS
Jan M Voight
1.702.806.3462
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223902
Last Updated: 08/21/2020
BESbswy