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713 Kenny Way Las Vegas, NV 89107

4 Beds 1 Baths 2,176 sqft Built 1974

INVESTimate

$599,950

List Price

$2,050

$1,845 - $2,255

Rent Est.

$644,406  ( +7.41%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1974
  • Price/Sqft : $275.71
  • 9 Days on Market
  • MLS # : 2223007
  • Updated Date : 08/25/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,176 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

HIGHLY UPGRADED 3 BED 3 BATH HOME WITH AN OFFICE. LARGE 1/2 ACRE LOT. LARGE POOL. BUILT IN BBQ. UPGRADED CABINETS, FLOORING, APPLIANCES, BATHROOMS, AND FINISHES. BACKYARD IS PARK-LIKE AND AMAZING.

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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: Palomino Area

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k529k

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

Neighborhood: Palomino Area

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762031

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

$539,955$659,945$599,950

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$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$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$2,214
Property Tax -$249
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$601

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.

$599,950

PROJECTED PRICE

$2,050

PROJECTED RENT

0.34%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.41%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,737

INVESTMENT

$164,737

Down Payment
$149,988
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $149,988
Loan Amount $449,963
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$5,556

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,996

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8103$1,8504$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 713 Kenny Way Las Vegas, NV 5
    • 4 beds 1 baths ∙ 2,176 Sqft ∙ Built 1974 4 beds 1 baths ∙ 2,176 Sqft ∙ Built 1974
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.94
    •  
  • 2701 Gilmary Avenue Las Vegas, NV 1
    • 4 beds 1 baths ∙ 1,940 Sqft ∙ Built 1964 4 beds 1 baths ∙ 1,940 Sqft ∙ Built 1964
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 1716 Kiltie Las Vegas, NV 2
    • 5 beds 1 baths ∙ 2,095 Sqft ∙ Built 1963 5 beds 1 baths ∙ 2,095 Sqft ∙ Built 1963
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.86
    •  
  • 3412 El Cortez Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1973
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 2901 Burton Avenue #na Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1961 3 beds 2 baths ∙ 2,198 Sqft ∙ Built 1961
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Darren T Bryan
1.702.429.4294
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223007
Last Updated: 08/25/2020
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