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5817 Martita Avenue Las Vegas, NV 89108

4 Beds 2 Baths 1,392 sqft Built 1964

INVESTimate

$242,000

List Price

$1,250

$1,125 - $1,375

Rent Est.

$270,411  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1964
  • Price/Sqft : $173.85
  • 10 Days on Market
  • MLS # : 2222316
  • Updated Date : 08/25/2020 at 15:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,392 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Single Story House, spacious open plan, has tile and hardwood flooring, cozy living room with fireplace, 4 bedrooms , 2full bath, kitchen with custom backsplash, cook top and double oven, nice sized back yard with Cover Patio, trees and raised flower beds ready for your green thumb, Roof 3 year old . Great location, close to 95 Hwy and shopping centers, you have to come see it.it won't last Buyer to verify all information

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

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
Paul E. Culley Elementary School Primary Regular 895 38 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Western High School High Regular 2,534 112 2

Paul E. Culley Elementary School

  • Education Level: Primary
  • # of students: 895
  • # of teachers: 38
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
 

$217,800$266,200$242,000

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$893
Property Tax -$104
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
$80

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.

$242,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$893

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$25,908

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
  • $0.9

    LIST RENT PER SQFT
  • $1,246

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,099
1$1,0992$1,2503$1,2504$1,2955$1,350
$1,350
RENT COMPS ANALYSIS
  • 5817 Martita Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1964
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 5722 West Lake Mead Boulevard #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $0.88
    •  
  • 5720 Ridgeline Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1976
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.88
    •  
  • 1524 Saylor Way Las Vegas, NV 4
    • 4 beds 1 baths ∙ 1,392 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,392 Sqft ∙ Built 1963
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.93
    •  
  • 1608 Crest Haven Avenue Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Beatriz D Martinez
1.702.338.2123
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222316
Last Updated: 08/25/2020
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