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PROPERTY INFO
FACTS
- Single Family
- Built In 1964
- Price/Sqft : $155.74
- 2 Days on Market
- MLS # : 2256819
- Updated Date : 12/19/2020 at 14:30
CONSTRUCTION
- Beds : 4
- Floor Size : 1,663 sqft
- Baths : 2 full
Listing Agent
Keller Williams Market Place I
Listing Agent's Description
Charming 4 bedroom 2 bath 1story home in the Charleston Heights Area. This 1600+ Sq. Ft home offers an spacious floorplan. Enter into a dining space just off the kitchen, with breakfast bar, perfect for cooking for the the family. The formal living space exits out to the covered patio next to the swimming pool, it has a large stone fireplace, great for relaxing cozy night or entraining family and friends. The master shower has been modernized. At this price point.... a 1600 sf, 1 story with four bedrooms AND a pool, is a great family starter home or a good investment property with a little TLC. Check it out.
SEE MORE
- 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: Pittman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pittman
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,510 |
| EXPENSES | Loan Payment | -$956 |
| Property Tax | -$116 | |
| Property Insurance | -$59 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$260
|
||
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.
$259,000
PROJECTED PRICE
$1,510
PROJECTED RENT
0.58%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$74,385
LOAN DETAILS
$956
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $64,750 |
| Loan Amount | $194,250 |
10.67
YEARS SAVED
$47,800
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,510
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$1,517
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
6225 Rassler Avenue Las Vegas, NV 4
- 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1964 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1964
- Rent
- Rent Per SQFT
- $1,510
- $0.91
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6216 Saginaw Drive Las Vegas, NV 1
- 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984 4 beds 2 baths ∙ 1,746 Sqft ∙ Built 1984
LEASED 03/30/20- Rent
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- $1,475
- $0.84
-
5805 Iris Las Vegas, NV 2
- 4 beds 2 baths ∙ 1,570 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,570 Sqft ∙ Built 1963
LEASED 05/22/20- Rent
- Rent Per SQFT
- $1,490
- $0.95
-
6221 Factor Las Vegas, NV 3
- 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963 4 beds 1 baths ∙ 1,770 Sqft ∙ Built 1963
LEASED 06/12/20- Rent
- Rent Per SQFT
- $1,495
- $0.84
-
401 Torrey Pines Drive Las Vegas, NV 5
- 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1973 4 beds 3 baths ∙ 1,728 Sqft ∙ Built 1973
LEASED 08/29/20- Rent
- Rent Per SQFT
- $1,765
- $1.02
PROPERTY LISTING DETAILS
1.702.285.7659
Keller Williams Market Place I
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256819
Last Updated: 12/19/2020
