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652 Avenue C Boulder City, NV 89005

3 Beds 2 Baths 1,271 sqft Built 1933

$336,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1933
  • Price/Sqft : $265.07
  • 5 Days on Market
  • MLS # : 2254108
  • Updated Date : 12/11/2020 at 11:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,271 sqft
  • Baths : 2 full
Listing Agent

Tr Realty

Listing Agent's Description

Remodeled historic home in lovely Boulder City! This home is move-in ready and offers modern amenities with a historic taste. Enjoy living near downtown and walking distance to major city parks, municipal pool, and schools. Custom oak cabinets and granite countertops. Appliances are all newer and upgraded. HVAC and water heater are less than 5 years old. Workshop is 18x11 with bench and storage. Alley access, covered patio, and very large parking area. Plenty of room for a boat and trailers.

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$303,210$370,590$336,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$1,243
Property Tax -$87
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$81

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.

$336,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$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$95,029

INVESTMENT

$95,029

Down Payment
$84,225
Rehab Estimate
$5,750
Closing Costs
$5,054

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,225
Loan Amount $252,675
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$21,356

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,544

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,5003$1,650
$1,650
RENT COMPS ANALYSIS
  • 652 Avenue C Boulder City, NV 1
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1933 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 1933
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.12
    •  
  • 759 K Avenue Boulder City, NV 2
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1936
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.26
    •  
  • 624 6th Street Boulder City, NV 3
    • 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1947 3 beds 3 baths ∙ 1,411 Sqft ∙ Built 1947
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
PROPERTY LISTING DETAILS
Jon Mckay Stevens
1.702.845.3293
Tr Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254108
Last Updated: 12/11/2020
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