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5713 Reiter Avenue Las Vegas, NV 89108

4 Beds 2 Baths 1,680 sqft Built 1965

$279,500

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1965
  • Price/Sqft : $166.37
  • 2 Days on Market
  • MLS # : 2269216
  • Updated Date : 02/13/2021 at 19:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

United Realty Group

Listing Agent's Description

Fully Renovated Single Story Home that is move-In Ready! 4 beds, 2 baths with new flooring, new carpet, paint, and 5.5" modern baseboards through outs. Open floor plan upgraded bathrooms! Stunning kitchen with new white shaker cabinets, quartz counters,stainless steel appliances, and more! All rooms have Fans with lighting. Don't let your buyers miss out on this fully renovated home as it won't last long! WELCOME HOME!*NO HOA!!!!!!

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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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Bertha Ronzone Elementary School Primary Regular 953 54 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Bertha Ronzone Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 54
2
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$251,550$307,450$279,500

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$971
Property Tax -$104
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$296

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.

$279,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,818

INVESTMENT

$79,818

Down Payment
$69,875
Rehab Estimate
$5,750
Closing Costs
$4,193

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$971

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,875
Loan Amount $209,625
See What Happens When You Reinvest Cash Flow

11

YEARS SAVED

$46,258

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,516

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,5004$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 5713 Reiter Avenue Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1965
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 1608 Crest Haven Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,522 Sqft ∙ Built 1977
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2416 Swaps Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1980
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.88
    •  
  • 5513 Bartlett Avenue Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,633 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,633 Sqft ∙ Built 1971
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 1801 Palo Alto Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,652 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,652 Sqft ∙ Built 1984
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.92
    •  
PROPERTY LISTING DETAILS
Leslie Vazquez Santacruz
1.702.742.3904
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269216
Last Updated: 02/13/2021
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