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931 Menands Avenue Las Vegas, NV 89123

3 Beds 2 Baths 1,266 sqft Built 1998

$309,900

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $244.79
  • 4 Days on Market
  • MLS # : 2253314
  • Updated Date : 12/04/2020 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,266 sqft
  • Baths : 2 full
Listing Agent

Rustic Properties

Listing Agent's Description

SPECTACULAR FULLY REMODELED 3 bedroom 2 bath home in Silverado Ranch!!!! This home received a head to toe makeover and no stone was left unturned. ALL NEW interior/designer selected two-tone paint, new quartz countertops in the kitchen, new stainless steel appliances and new vanities in the bathrooms!! The primary bedroom has a slider that exits to the back yard with it's own covered patio! There are TWO covered patios!!

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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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Roger Gehring Elementary School Primary Regular 676 39 9
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Silverado High School High Regular 2,263 94 5

Roger Gehring Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 39
9
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$1,143
Property Tax -$175
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$169

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.

$309,900

PROJECTED PRICE

$1,320

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

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$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,517

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,345

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3503$1,4004$1,4755$1,550
$1,550
RENT COMPS ANALYSIS
  • 931 Menands Avenue Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.04
    •  
  • 9643 Sky Hollow Drive #n/a Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,266 Sqft ∙ Built 1998
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.07
    •  
  • 9673 Riding Ridge Road Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1997 3 beds 1 baths ∙ 1,266 Sqft ∙ Built 1997
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 1056 Menands Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1997
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.01
    •  
  • 9651 Rancho Rialto Court Henderson, NV 5
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1997
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
PROPERTY LISTING DETAILS
Noah Bates
1.702.551.4381
Rustic Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253314
Last Updated: 12/04/2020
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