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625 Claxton Avenue North Las Vegas, NV 89084

4 Beds 3 Baths 1,976 sqft Built 2003

$310,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $156.88
  • 5 Days on Market
  • MLS # : 2256246
  • Updated Date : 12/17/2020 at 11:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,976 sqft
  • Baths : 2 full , 1 half
Listing Agent

Resolution Realty

Listing Agent's Description

*Fantastic 2-story home located in the lovely community of Pearl Pointe*Upon entry you'll find an open & airy great room complete with a cozy fireplace and a great space for entertaining*Fabulous newly remodeled kitchen features an island/granite slab counters/pantry & black appliances that stay*Convenient downstairs guest bedroom and 3/4 bathroom*Extensive use of laminate wood-flooring and tile*Super backyard is spacious and has room for a pool/play area/garden*Upstairs you'll find an oversized loft that could be a game/toy room/office space*Primary bedroom is large and features a walk-in closet/ceiling fans and fantastic bathroom with separate tub and shower/double sinks*Secondary bedrooms have ceilings fans and are good size!*Tile floor throughout entire upstairs*Laundry room is downstairs and washer/dryer stay*Thank you for showing this lovely home! We look forward to working with you!

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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

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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

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

$279,000$341,000$310,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,144
Property Tax -$230
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$2

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.

$310,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.50%

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$0.0$5.0k$10k$15k

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$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3953$1,5004$1,5605$1,599
$1,599
RENT COMPS ANALYSIS
  • 625 Claxton Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.79
    •  
  • 6344 Tim English Street North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,799 Sqft ∙ Built 2004
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.74
    •  
  • 712 Claxton Avenue North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 2004
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 606 Painted Opus Place #0 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 6651 Majestic Pearl Place #0 North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,953 Sqft ∙ Built 2001
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.82
    •  
PROPERTY LISTING DETAILS
Ehren Alessi
1.702.800.5054
Resolution Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256246
Last Updated: 12/17/2020
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