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908 Torington Drive Las Vegas, NV 89108

4 Beds 2 Baths 1,663 sqft Built 1993

$278,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $167.17
  • 2 Days on Market
  • MLS # : 2243784
  • Updated Date : 11/02/2020 at 14:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,663 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

GORGES HOME IN THE DESIRABLE NORTHWEST PART OF TOWN/HOME FEATURES 4 BEDROOMS 3 BATHS//FIRST FLOOR FEATURES//VAULTED CEILING// LIVING ROOM//FAMILY ROOM WITH COZY FIREPLACE//DINING ARE// BEDROOM AND 3/4 BATH DOWNSTAIRS//THAT'S GREAT FOR GUESTS OR RESIDENTS WHO DON'T WANT TO USE THE STAIRS// NEW KITCHEN GRANITE COUNTER TOP//WITH LOTS OF CABINETS AND COUNTER SPACE// NEW APPLINCES//NEW FLOORING//NEW WINDOW COVERINGS THROUGHOUT// UPSTAIRS FEATURES//NEW CARPET IN ALL THE BEDROOMS//SPACIOUS MASTER SUIT WITH VAULTED CEILING//MASTER BATH WITH DUAL SINK//GOOD SIZE SECONDARY BEDROOMS THAT SHARES A JACK-AND JILL BATHROOM// NEW BRUSHED NICKEL HARWARE//FRESHHLY PAINTED//HUGE 2+ CAR- GARAGE WITH EXTRA ROOM FOR STORAGE//LOW MAINTENANCE FRONT AND BACKYARD//NO HOA!//CONVENIENTLY LOCATED NEAR SCHOOLS,PARKS, SHOPPING, AND EASY FREEWAY ACCESS//READY FOR QUICK MOVE IN//GREAT VALUE! DON'T LET YOUR BUYERS MISS THIS ONE.

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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: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Vail Pittman Elementary School Primary Regular 616 33 3
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Vail Pittman Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 33
3
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$250,200$305,800$278,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,026
Property Tax -$185
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$11

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.

$278,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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

PROJECTED ANNUAL CASH FLOW

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

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$79,420

INVESTMENT

$79,420

Down Payment
$69,500
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,500
Loan Amount $208,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,443

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3503$1,3504$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 908 Torington Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,663 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 6532 White Swan Circle Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1991
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.85
    •  
  • 6513 Ruby Red Circle Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1991
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 6500 Burlwood Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1990
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 1400 Canyon Rose Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 1989
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
Frank Tenuta
1.702.376.0635
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243784
Last Updated: 11/02/2020
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