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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $245.69
- 1 Days on Market
- MLS # : 2314339
- Updated Date : 07/13/2021 at 19:44
CONSTRUCTION
- Beds : 3
- Floor Size : 1,160 sqft
- Baths : 2 full
Listing Agent
Investpro Realty
Listing Agent's Description
Great first timer house with fresh paint, new carpet, brand new stainless steel stove, dishwasher, microwave, updated ceiling lights through out, tile flooring and much more. 2 car garage with direct access to the house, fully fenced back yard for privacy, sits in a quiet Cul-De-Sac. ready to move in to enjoy your hot summer.
SEE MORE
- 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
Zip Code: 89108
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 89108
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,280 |
| EXPENSES | Loan Payment | -$990 |
| Property Tax | -$122 | |
| Property Insurance | -$50 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$0
|
||
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.
$285,000
PROJECTED PRICE
$1,280
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| 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
$81,275
LOAN DETAILS
$990
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $71,250 |
| Loan Amount | $213,750 |
5.5
YEARS SAVED
$17,168
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,280
LIST RENT -
$1.1
LIST RENT PER SQFT
-
$1,050
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
-
6644 Fredonia Drive Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,160 Sqft ∙ Built 1983
![property image]()
- Rent
- Rent Per SQFT
- $1,280
- $1.10
-
1900 Torrey Pines Drive #210 Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,227 Sqft ∙ Built 1995
![property image]()
LEASED 08/07/20- Rent
- Rent Per SQFT
- $1,095
- $0.89
-
1917 Bookbinder Drive Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1992
![property image]()
LEASED 01/29/20- Rent
- Rent Per SQFT
- $1,350
- $0.92
PROPERTY LISTING DETAILS
1.702.726.0000
Investpro Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2314339
Last Updated: 07/13/2021
