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5970 Gowan Road Las Vegas, NV 89108

3 Beds 2 Baths 1,210 sqft Built 1957

$299,999

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $247.93
  • 3 Days on Market
  • MLS # : 2263750
  • Updated Date : 01/23/2021 at 03:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,210 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

**UNIQUE ONE-STORY HOUSE ON A BIG CORNER LOT W/ A POOL IN TONOPAH TERRACE** ** FULLY FENCED, 2 LARGE GATES, MULTIPLE SHEDS, MATURE TREES & CARPORT THAT LEADS TO THE COVERED PORCH/FRONT ENTRANCE**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k302k

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

Neighborhood: North Cheyenne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10011606

* 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
R.e. Tobler Elementary School Primary Regular 582 36 2
Irwin And Susan Molasky Junior High School Middle Regular 1,131 50 NA
Cheyenne High School High Regular 2,212 91 2

R.e. Tobler Elementary School

  • Education Level: Primary
  • # of students: 582
  • # of teachers: 36
2
GreatSchools Rating

Irwin And Susan Molasky Junior High School

  • Education Level: Middle
  • # of students: 1,131
  • # of teachers: 50
NA
GreatSchools Rating

Cheyenne High School

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

$269,999$329,999$299,999

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$1,042
Property Tax -$148
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$20

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.

$299,999

PROJECTED PRICE

$1,340

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,278

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,004

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1503$1,340
$1,340
RENT COMPS ANALYSIS
  • 5970 Gowan Road Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1957
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.11
    •  
  • 6308 Portola Road Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 1976
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.85
    •  
  • 6601 Plumflower Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1976
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
PROPERTY LISTING DETAILS
Tania Michaels
1.702.675.8211
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263750
Last Updated: 01/23/2021
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