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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $210.35
- 21 Days on Market
- MLS # : 2262495
- Updated Date : 02/06/2021 at 15:32
CONSTRUCTION
- Beds : 3
- Floor Size : 1,188 sqft
- Baths : 2 full
Listing Agent
Western Realty
Listing Agent's Description
Highly desirable single story, major renovations completed 2018, quartz kitchen and bathroom counter tops, lots of custom upgrades, incredible landscaping including flagstone patio, pergola,outdoor bar/entertainment area,herb gardens, skylights in bathrooms,6 fruit trees (nectarine,lemon,plum,almond), even has a chicken coop,new vinyl plank flooring installed throughout in 2018 along with new counter tops, custom bookcases, pendant lights over breakfast bar, NEW central rooftop AC unit 2019, new garage door opener 2018, new water heater 2017, garage is AC cooled (great work space), loads of upgrades and improvements, a steal and short distance to huge park. Save tens of thousands vs new build, great family home or investment. More interior photos to be posted soon.Interior photos shown were taken just before tenants moved in late 2018, current photos soon. Tenants just moved out, showings available starting Fri2/5/21 - place still being cleaned out thru weekend of 2/6-2/7
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: Woodcrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodcrest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,250 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$130 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$83
|
||
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.
$249,900
PROJECTED PRICE
$1,250
PROJECTED RENT
0.50%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 10.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$71,974
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,475 |
| Loan Amount | $187,425 |
7.58
YEARS SAVED
$24,292
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,250
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$1,084
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
6544 Joe Michael Way Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,250
- $1.05
-
3737 Rainy River Road #n/a Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1984
LEASED 10/09/20- Rent
- Rent Per SQFT
- $1,100
- $0.90
-
6908 Dorita Avenue #202 Las Vegas, NV 2
- 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,321 Sqft ∙ Built 1997
LEASED 08/27/20- Rent
- Rent Per SQFT
- $1,170
- $0.89
-
6708 Dorita Avenue #102 Las Vegas, NV 3
- 3 beds 1 baths ∙ 1,289 Sqft ∙ Built 1996 3 beds 1 baths ∙ 1,289 Sqft ∙ Built 1996
LEASED 02/25/20- Rent
- Rent Per SQFT
- $1,200
- $0.93
-
6704 Dorita Avenue #102 Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1996
LEASED 06/29/20- Rent
- Rent Per SQFT
- $1,200
- $0.93
PROPERTY LISTING DETAILS
1.702.513.4699
Western Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2262495
Last Updated: 02/06/2021
