Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

94 Colbath Street Las Vegas, NV 89110

2 Beds 2 Baths 1,036 sqft Built 1983

$224,500

List Price

$990

$891 - $1.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $216.70
  • 7 Days on Market
  • MLS # : 2277066
  • Updated Date : 03/13/2021 at 16:37
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,036 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Honey STOP the car! Move in ready single story home with NO HOA. Home Features a spacious open floor plan; 2 bedroom 2 bath; granite counter tops in kitchen and backsplash; Separate Primary bedroom with walk-in closet; Ceiling fans throughout; Large side patio for indoor/outdoor living and entertaining; Converted garage could be used as a third bedroom.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Richard Rundle Elementary School Primary Regular 752 43 2
Duane Keller Middle School Middle Regular 1,257 56 NA
Eldorado High School High Regular 1,920 76 1

Richard Rundle Elementary School

  • Education Level: Primary
  • # of students: 752
  • # of teachers: 43
2
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$202,050$246,950$224,500

PURCHASE PRICE

$891$1,089$990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $990
EXPENSES Loan Payment -$780
Property Tax -$98
Property Insurance -$47
Property Management Fees -$119
CASH FLOW
-$54

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.

$224,500

PROJECTED PRICE

$990

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,243

INVESTMENT

$65,243

Down Payment
$56,125
Rehab Estimate
$5,750
Closing Costs
$3,368

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$780

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,125
Loan Amount $168,375
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$9,539

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $990

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $969

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$850
1$8502$8953$9904$1,0255$1,250
$1,250
RENT COMPS ANALYSIS
  • 94 Colbath Street Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,036 Sqft ∙ Built 1983 2 beds 2 baths ∙ 1,036 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $990
    • $0.96
    •  
  • 860 Sloan Lane #203 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 900 Sqft ∙ Built 1987 2 beds 1 baths ∙ 900 Sqft ∙ Built 1987
    property image
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $850
    • $0.94
    •  
  • 5650 Sahara #1016 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 958 Sqft ∙ Built 2002 2 beds 2 baths ∙ 958 Sqft ∙ Built 2002
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $895
    • $0.93
    •  
  • 1300 Arlington #122 Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,118 Sqft ∙ Built 1998
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,025
    • $0.92
    •  
  • 5625 Alcott Avenue Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,317 Sqft ∙ Built 1981 2 beds 1 baths ∙ 1,317 Sqft ∙ Built 1981
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.95
    •  
PROPERTY LISTING DETAILS
Maricruz Garcia-mcintosh
1.630.748.9984
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277066
Last Updated: 03/13/2021
BESbswy