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904 Vincent Way Las Vegas, NV 89145

3 Beds 2 Baths 1,134 sqft Built 1970

$285,000

List Price

$1,210

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $251.32
  • 9 Days on Market
  • MLS # : 2250037
  • Updated Date : 11/27/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,134 sqft
  • Baths : 2 full
Listing Agent

United Realty Group

Listing Agent's Description

Must see single story home! This house will not last. Large living room that features a firplace, three spacious bedrooms and beautiful shutters throughout the entire house! New roof, new water heater, windows, soft water treatment system, and new insulation plus much more! The backyard has been revitalized and its absolutely stunning along with RV parking! This house has been newly renovated from the inside and out.

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $80k296k

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

Neighborhood: Charleston Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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
O.k. Adcock Elementary School Primary Regular 603 33 5
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

O.k. Adcock Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 33
5
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,089$1,331$1,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,210
EXPENSES Loan Payment -$1,052
Property Tax -$112
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
-$122

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.

$285,000

PROJECTED PRICE

$1,210

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,800

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,210

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,196

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2003$1,2104$1,3305$1,350
$1,350
RENT COMPS ANALYSIS
  • 904 Vincent Way Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,210
    • $1.07
    •  
  • 6717 Charleston Boulevard #1 Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1986 3 beds 1 baths ∙ 1,204 Sqft ∙ Built 1986
    property image
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.99
    •  
  • 204 Candlelight Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,180 Sqft ∙ Built 1972 3 beds 1 baths ∙ 1,180 Sqft ∙ Built 1972
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.02
    •  
  • 1053 Neil Armstrong Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1983
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.10
    •  
  • 6725 Theus Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1985
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.11
    •  
PROPERTY LISTING DETAILS
Erica Manasewitsch
1.702.630.8430
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250037
Last Updated: 11/27/2020
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