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917 Palmhurst Drive Las Vegas, NV 89145

3 Beds 2 Baths 1,437 sqft Built 1975

$279,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1975
  • Price/Sqft : $194.78
  • 2 Days on Market
  • MLS # : 2244937
  • Updated Date : 11/07/2020 at 21:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,437 sqft
  • Baths : 2 full
Listing Agent

Wynn Realty Group

Listing Agent's Description

Darling home centrally located! New roof, new paint inside and out, new AC, new floors, new granite counters, new vanities, new shower and tub surrounds, new mirrors, new light fixtures, new appliances, new roof, new garage door and opener! Hurry, this one won't last long!

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: Charleston Preservation West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $99k296k

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

Neighborhood: Charleston Preservation West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110011501200125013001350140014501500155016001650Rent in $10761691

* 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
Helen Marie Smith Elementary School Primary Regular 487 30 7
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Helen Marie Smith Elementary School

  • Education Level: Primary
  • # of students: 487
  • # of teachers: 30
7
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
 

$251,910$307,890$279,900

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 -$1,033
Property Tax -$126
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
$77

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.

$279,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 12.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$31,251

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
  • $0.98

    LIST RENT PER SQFT
  • $1,415

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4103$1,4504$1,5005$1,585
$1,585
RENT COMPS ANALYSIS
  • 917 Palmhurst Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1975
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.98
    •  
  • 616 Palmhurst Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,392 Sqft ∙ Built 1972
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.01
    •  
  • 7128 Alta Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,620 Sqft ∙ Built 1971 3 beds 1 baths ∙ 1,620 Sqft ∙ Built 1971
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 7233 William Anders Avenue Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,620 Sqft ∙ Built 1976 3 beds 1 baths ∙ 1,620 Sqft ∙ Built 1976
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 1017 Ron Evans Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,437 Sqft ∙ Built 1975
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.10
    •  
PROPERTY LISTING DETAILS
Michelle D Stiles
1.702.250.7224
Wynn Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244937
Last Updated: 11/07/2020
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