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924 Vincent Way Las Vegas, NV 89145

3 Beds 2 Baths 1,964 sqft Built 1970

$295,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1970
  • Price/Sqft : $150.20
  • 7 Days on Market
  • MLS # : 2251428
  • Updated Date : 12/03/2020 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,964 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Check out this STUNNING MAINTAINED one story family home with NO HOA! Three oversized bedrooms with ceiling fans, Large dining area, family room with fireplace, formal living area, classy sunburst shutters, and 5 inch baseboards throughout! 30x10 ft covered patio leads to beautiful backyard featuring Spa with lights, flagstone pavers, grass and 15x13 shed (possible casita?) Great Location Just Blocks from 2 major freeways. Blocks away from Boca Park, Tivoli Village and Las Vegas Ballpark.

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 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,088
Property Tax -$122
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$86

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.

$295,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.50%

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$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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$30,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,4805$1,550
$1,550
RENT COMPS ANALYSIS
  • 924 Vincent Way Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1970
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.75
    •  
  • 6949 Kim Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,764 Sqft ∙ Built 1969
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.77
    •  
  • 808 Antigua Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,877 Sqft ∙ Built 1970 3 beds 1 baths ∙ 1,877 Sqft ∙ Built 1970
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 6921 Alta Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1967 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1967
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.80
    •  
  • 6949 Marseilles Circle Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1970
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
PROPERTY LISTING DETAILS
Roberto Esparza
1.702.970.1901
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251428
Last Updated: 12/03/2020
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