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624 Brown Breeches Avenue North Las Vegas, NV 89081

3 Beds 3 Baths 1,631 sqft Built 2004

$295,999

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $181.48
  • 3 Days on Market
  • MLS # : 2260465
  • Updated Date : 01/09/2021 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,631 sqft
  • Baths : 2 full , 1 half
Listing Agent

Park Place Realty

Listing Agent's Description

Move in Ready Home! Spacious eat in kitchen plus formal dining room adjacent to large living room. great for entertaining. All bedrooms have walk in closets and ceiling fans. Nice big back yard and enough room for RV parking.

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 Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$266,399$325,599$295,999

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,028
Property Tax -$212
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$8

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.

$295,999

PROJECTED PRICE

$1,410

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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-$2.0k$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,190

INVESTMENT

$84,190

Down Payment
$74,000
Rehab Estimate
$5,750
Closing Costs
$4,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,028

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,000
Loan Amount $221,999
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$16,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,411

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4003$1,4004$1,4105$1,500
$1,500
RENT COMPS ANALYSIS
  • 624 Brown Breeches Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,631 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.86
    •  
  • 608 Cowboy Cross Avenue North Las Vegas, NV 1
    • 3 beds 4 baths ∙ 1,502 Sqft ∙ Built 2004 3 beds 4 baths ∙ 1,502 Sqft ∙ Built 2004
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.87
    •  
  • 409 Snow Dome Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2007
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 309 Snow Dome Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2006
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 217 Big Cliff Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,751 Sqft ∙ Built 2008
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
PROPERTY LISTING DETAILS
Carlos M Gil
1.702.858.5913
Park Place Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260465
Last Updated: 01/09/2021
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