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62 Page Street Las Vegas, NV 89110

2 Beds 1 Baths 979 sqft Built 1978

$219,900

List Price

$880

$792 - $968

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1978
  • Price/Sqft : $224.62
  • 9 Days on Market
  • MLS # : 2248488
  • Updated Date : 11/20/2020 at 11:44
CONSTRUCTION
  • Beds : 2
  • Floor Size : 979 sqft
  • Baths : 1 full
Listing Agent

Century 21 Gavish Real Estate

Listing Agent's Description

Best By Far!! Single Story Ranch Style Home. Fully Fenced front and back yards with New Exterior Paint. New Roof. New Remodeled Kitchen with upgraded cabinets with pullouts and soft close. New kitchen appliances. Refrigerator stays. Primary Bedroom and Primary Bath. 2nd bedroom has access to 2nd bathroom. Large pool. 1 Car Garage. Also included Mounted TV in bedroom & TV in garage with Surveillance Cameras. This will not last!

SEE MORE

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: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $65k296k

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

Neighborhood: Stewart Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8541603

* 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
Elbert Edwards Elementary School Primary Regular 677 34 3
Dell Robison Middle School Middle Regular 1,210 45 NA
Las Vegas High School High Regular 3,077 121 4

Elbert Edwards Elementary School

  • Education Level: Primary
  • # of students: 677
  • # of teachers: 34
3
GreatSchools Rating

Dell Robison Middle School

  • Education Level: Middle
  • # of students: 1,210
  • # of teachers: 45
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$792$968$880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $880
EXPENSES Loan Payment -$811
Property Tax -$118
Property Insurance -$46
Property Management Fees -$119
CASH FLOW
-$215

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.

$219,900

PROJECTED PRICE

$880

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 14.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $880

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $886

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$875
1$8752$8803$8954$9005$1,000
$1,000
RENT COMPS ANALYSIS
  • 62 Page Street Las Vegas, NV 2
    • 2 beds 1 baths ∙ 979 Sqft ∙ Built 1978 2 beds 1 baths ∙ 979 Sqft ∙ Built 1978
    • Rent
    • Rent Per SQFT
    •  
    • $880
    • $0.90
    •  
  • 227 Lamb Boulevard #a Las Vegas, NV 1
    • 2 beds 1 baths ∙ 978 Sqft ∙ Built 1989 2 beds 1 baths ∙ 978 Sqft ∙ Built 1989
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $875
    • $0.89
    •  
  • 409 Lamb Boulevard #h Las Vegas, NV 3
    • 2 beds 2 baths ∙ 942 Sqft ∙ Built 1981 2 beds 2 baths ∙ 942 Sqft ∙ Built 1981
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.95
    •  
  • 221 North Lamb #a Las Vegas, NV 4
    • 2 beds 1 baths ∙ 978 Sqft ∙ Built 1989 2 beds 1 baths ∙ 978 Sqft ∙ Built 1989
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $900
    • $0.92
    •  
  • 80 Daisetta Street #0 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,158 Sqft ∙ Built 1987 2 beds 2 baths ∙ 1,158 Sqft ∙ Built 1987
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
Michelle R Ross
1.702.845.2419
Century 21 Gavish Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248488
Last Updated: 11/20/2020
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