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738 Hollywood Boulevard Las Vegas, NV 89110

5 Beds 2 Baths 3,244 sqft Built 1979

INVESTimate

$465,000

List Price

$2,040

$1,836 - $2,244

Rent Est.

$524,381  ( +12.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1979
  • Price/Sqft : $143.34
  • 3 Days on Market
  • MLS # : 2224631
  • Updated Date : 08/25/2020 at 21:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,244 sqft
  • Baths : 2 full
Listing Agent

Tr Realty

Listing Agent's Description

Fantastic strip,city, and mountain views from downstairs and upstairs windows and balcony. Home has 3244 square feet, 4 ½ car garages, 2 ¾ baths and 4 bedrooms and sits on .47 acres. Downstairs is a Huge family room with a large center island granite breakfast bar & double stainless steel sink. There is a separate ss sink next to the stove and a ss sink in the food prep area. These counter tops are also granite. Huge walk through pantry. The kitchen and food preparation area cabinets are all natural wood with pull out shelves. Separate formal dining room w/cabinets,granite and a large separate living room. master bedroom has a walk-in closet and a separate retreat. The retreat/office has a ductless mini split AC unit. The master bath has his and her sinks a large walk in shower and a separate Jacuzzi tub. Upstairs has its own separate entry, kitchen and bath. Could be used for additional family members, or additional income. RV parking on South side.

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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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Mervin Iverson Elementary School Primary Regular 870 43 7
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Mervin Iverson Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 43
7
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

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 $2,040
EXPENSES Loan Payment -$1,716
Property Tax -$231
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$115

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.

$465,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.77%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$23,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $2,033

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,7953$1,9504$1,995
$1,995
RENT COMPS ANALYSIS
  • 738 Hollywood Boulevard Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,244 Sqft ∙ Built 1979 5 beds 2 baths ∙ 3,244 Sqft ∙ Built 1979
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 1960 Violet Bouquet Way Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,980 Sqft ∙ Built 1998 5 beds 2 baths ∙ 2,980 Sqft ∙ Built 1998
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.60
    •  
  • 6508 Strawberry Cream Court #0 Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,980 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,980 Sqft ∙ Built 1997
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.65
    •  
  • 1535 Deerford Circle Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.63
    •  
PROPERTY LISTING DETAILS
Ken Kim
1.818.746.5653
Tr Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224631
Last Updated: 08/25/2020
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