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789 Wilshire Boulevard Las Vegas, NV 89110

4 Beds 2 Baths 3,225 sqft Built 2017

$769,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $238.73
  • 5 Days on Market
  • MLS # : 2261519
  • Updated Date : 01/16/2021 at 20:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,225 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Southern Nevada

Listing Agent's Description

Single Story Custom Home built on half an acre! Strip, City, and Mountain views! No HOA. Large open Kitchen with custom cabinets, walk-in pantry, island, and granite countertops. Shutters throughout. Large Primary Bedroom with 2 walk-in closets!! Primary bathroom with double sinks, vanity, jet tub, and separate shower. Large second-floor deck to view city and strip. Covered Patio, RV parking, Outdoor bathroom, and Bbq area. A must see!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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

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
 

$692,910$846,890$769,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$2,674
Property Tax -$495
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$1,438

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.

$769,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.25%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$209,774

INVESTMENT

$209,774

Down Payment
$192,475
Rehab Estimate
$5,750
Closing Costs
$11,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,674

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $192,475
Loan Amount $577,425
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$43

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,000

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,9003$1,9154$1,9405$1,950
$1,950
RENT COMPS ANALYSIS
  • 789 Wilshire Boulevard Las Vegas, NV 4
    • 4 beds 2 baths ∙ 3,225 Sqft ∙ Built 2017 4 beds 2 baths ∙ 3,225 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.60
    •  
  • 6247 Gentle Waters Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.60
    •  
  • 6582 American Beauty Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 1999
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
  • 196 Ginger Root Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,253 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,253 Sqft ∙ Built 2005
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.59
    •  
  • 6508 Strawberry Cream Court #0 Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Vanessa Avila
1.702.639.7969
Keller Williams Southern Nevada
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261519
Last Updated: 01/16/2021
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