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816 5th Street Boulder City, NV 89005

3 Beds 1 Baths 1,302 sqft Built 1945

INVESTimate

$368,000

List Price

$1,440

$1,296 - $1,584

Rent Est.

$394,790  ( +7.28%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1945
  • Price/Sqft : $282.64
  • 9 Days on Market
  • MLS # : 2223429
  • Updated Date : 08/24/2020 at 12:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,302 sqft
  • Baths : 1 full
Listing Agent

The Russell Group

Listing Agent's Description

Adorable dam home! Lots of windows and natural light. Rare, separate foyer. Nest thermostat. Original Built-in’s in living room, dining area, Office/bedroom. Wood burning fireplace, separate laundry room that can be converted into bathroom/laundry room with line marked to plumb for bathroom. Newer wood look tile throughout. Bath with large walk in shower and 2 shower heads. Kitchen remodeled in 2020 with new stove, microwave, dishwasher, extra large sink, quartz counter-tops, dishwasher. Great backyard set up for entertaining, with sparkling, partially sunken pool surrounded by custom deck. Dog run with doggy door. R/V or boat parking with alley access, plumbed for natural gas bbq. French doors out to large covered patio, Side yard entrance from kitchen. 2 car garage with plenty of storage and entry to house. Only a block or two from parks, schools, public pool, rec center, and historic downtown.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k362k

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

Zip Code: 89005

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10241875

* 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
Martha P. King Elementary School Primary Regular 427 23 8
Elton M. Garrett Junior High School Middle Regular 470 22 NA
Boulder City High School High Regular 618 31 8

Martha P. King Elementary School

  • Education Level: Primary
  • # of students: 427
  • # of teachers: 23
8
GreatSchools Rating

Elton M. Garrett Junior High School

  • Education Level: Middle
  • # of students: 470
  • # of teachers: 22
NA
GreatSchools Rating

Boulder City High School

  • Education Level: High
  • # of students: 618
  • # of teachers: 31
8
GreatSchools Rating
 

$331,200$404,800$368,000

PURCHASE PRICE

$1,296$1,584$1,440

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,358
Property Tax -$97
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$186

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.

$368,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.28%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,270

INVESTMENT

$103,270

Down Payment
$92,000
Rehab Estimate
$5,750
Closing Costs
$5,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,358

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,000
Loan Amount $276,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,500
$1,500
RENT COMPS ANALYSIS
  • 816 5th Street Boulder City, NV 1
    • 3 beds 1 baths ∙ 1,302 Sqft ∙ Built 1945 3 beds 1 baths ∙ 1,302 Sqft ∙ Built 1945
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.11
    •  
  • 759 K Avenue Boulder City, NV 2
    • 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1936 3 beds 2 baths ∙ 1,189 Sqft ∙ Built 1936
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.26
    •  
PROPERTY LISTING DETAILS
Joyce Bosen
1.702.727.7182
The Russell Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223429
Last Updated: 08/24/2020
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