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880 Pittston Avenue Las Vegas, NV 89123

5 Beds 3 Baths 2,266 sqft Built 2007

$339,500

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $149.82
  • 5 Days on Market
  • MLS # : 2244930
  • Updated Date : 11/06/2020 at 20:30
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,266 sqft
  • Baths : 2 full , 1 half
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

This is a great 5 bedroom with a sizeable great room and separate dining room. It also has a 2 1/2 car garage for extra storage space. There is a nice covered patio to enjoy evenings under. The downstairs is tiled. Chandeliers do not convey.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Roger Gehring Elementary School Primary Regular 676 39 9
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Silverado High School High Regular 2,263 94 5

Roger Gehring Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 39
9
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$305,550$373,450$339,500

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$1,253
Property Tax -$257
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$10

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.

$339,500

PROJECTED PRICE

$1,710

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,718

INVESTMENT

$95,718

Down Payment
$84,875
Rehab Estimate
$5,750
Closing Costs
$5,093

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,253

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,875
Loan Amount $254,625
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$27,238

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,796

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7104$1,7505$1,995
$1,995
RENT COMPS ANALYSIS
  • 880 Pittston Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,266 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,266 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.75
    •  
  • 1037 Shadow Pool Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1999
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 1038 Aspen Breeze Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1998
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 9469 Silvaner Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,232 Sqft ∙ Built 1998
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 752 Homewillow Avenue #n/a Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,427 Sqft ∙ Built 2005
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
PROPERTY LISTING DETAILS
John F Plater
1.702.210.2811
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244930
Last Updated: 11/06/2020
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