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632 Overview Drive Las Vegas, NV 89145

3 Beds 3 Baths 2,242 sqft Built 1992

$460,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $205.17
  • 12 Days on Market
  • MLS # : 2242074
  • Updated Date : 11/02/2020 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,242 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

LOCATION, LOCATION HARD TO FIND SINGLE STORY WITH (NO HOA) LOCATED ON THE BORDER OF SUMMERLIN! 3 BEDROOMS, 3 CAR GARAGE, W NEW TITLE FLOORS, BEAUTIFUL BACKYARD FEATURING HUGE POOL.PATIO AND BBQ, WALKING DISTANCE TO BOCA PARK, TIVOLI VILLAGE, JUST MINUTES AWAYS FROM HOTELS, RESTAURANTS, RIVATE GATE, 3 CAR GARAGE WITH NEW TITLE FLOORS, NEW SHUTTERS AND MUCH MORE MUST SEE!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k296k

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

Neighborhood: Angel Park Lindell

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111606

* 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
Walter Jacobson Elementary School Primary Regular 592 32 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Palo Verde High School High Regular 3,024 114 9

Walter Jacobson Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 32
7
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,697
Property Tax -$307
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$434

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.

$460,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.1%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,7953$1,7954$1,8855$1,995
$1,995
RENT COMPS ANALYSIS
  • 632 Overview Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.79
    •  
  • 701 Rivenbark Court #n/a Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1989
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 300 Sunnyvale Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 1994
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 1512 Oderzo Lane #0 Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 1985
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.87
    •  
  • 8632 Grandbank Drive Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,242 Sqft ∙ Built 1990
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.89
    •  
PROPERTY LISTING DETAILS
Juana Zavala
1.702.338.9431
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242074
Last Updated: 11/02/2020
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