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908 Bonita Avenue Las Vegas, NV 89104

3 Beds 3 Baths 1,665 sqft Built 1959

$319,500

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1959
  • Price/Sqft : $191.89
  • 11 Days on Market
  • MLS # : 2264943
  • Updated Date : 02/06/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,665 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Life Realty

Listing Agent's Description

Quaint 3 bedroom, single story home in Center City. A stones throw from the Arts District and Downtown Las Vegas, this rare find comes move in ready. Large living room boasts a wet bar and wood look flooring. New bathrooms, fresh paint in and out. Large den provides extra room for family and friends. Pool sized lot*No HOA*Large lush lawn in the backyard enhanced with palm trees and rose bushes*primary bedroom exits to backyard. Minutes from the Las Vegas Strip, T Mobile Arena, Raiders Stadium and the Fashion Show Mall.

SEE MORE

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: Southridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k296k

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

Neighborhood: Southridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
John S. Park Elementary School Primary Regular 852 46 3
John C. Fremont Middle School Middle Regular 873 41 NA
Valley High School High Magnet 2,826 123 2

John S. Park Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 46
3
GreatSchools Rating

John C. Fremont Middle School

  • Education Level: Middle
  • # of students: 873
  • # of teachers: 41
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$287,550$351,450$319,500

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,110
Property Tax -$135
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$13

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.

$319,500

PROJECTED PRICE

$1,410

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$90,418

INVESTMENT

$90,418

Down Payment
$79,875
Rehab Estimate
$5,750
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,110

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,875
Loan Amount $239,625
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,207

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,390

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3853$1,4104$1,5255$1,600
$1,600
RENT COMPS ANALYSIS
  • 908 Bonita Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,665 Sqft ∙ Built 1959 3 beds 3 baths ∙ 1,665 Sqft ∙ Built 1959
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.85
    •  
  • 1801 8th Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1958 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1958
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.73
    •  
  • 2213 Beverly Way Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1957 3 beds 1 baths ∙ 1,584 Sqft ∙ Built 1957
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.87
    •  
  • 674 Oakey Boulevard Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,756 Sqft ∙ Built 1950 3 beds 1 baths ∙ 1,756 Sqft ∙ Built 1950
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.87
    •  
  • 1501 South 11th Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1944 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1944
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brian J Frabbiele
1.702.523.4051
Better Life Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264943
Last Updated: 02/06/2021
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