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940 Nye Street Las Vegas, NV 89106

4 Beds 2 Baths 1,761 sqft Built 1957

$289,999

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $164.68
  • 4 Days on Market
  • MLS # : 2247818
  • Updated Date : 11/14/2020 at 19:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,761 sqft
  • Baths : 2 full
Listing Agent

Precision Realty

Listing Agent's Description

Corner lot with 0.2 acres, RV parking, and private pool! Brand new finishes THROUGHOUT! Home has mid-century modern updates. Absolutely stunning bathrooms with new vanities, modern mirrors and lighting, upgraded fixtures, custom tiled flooring and showers! Spacious kitchen, completely remodeled with modern ss hood, NEW cabinets, quartz counters, and tile flooring!

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: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $67k296k

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

Neighborhood: West Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8971603

* 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
Mabel Hoggard Elementary School Primary Magnet 462 28 9
West Preparatory Instititute School For Academic Excellence Middle Regular 1,353 64 7
West Preparatory Instititute School For Academic Excellence High Regular 1,353 64 7

Mabel Hoggard Elementary School

  • Education Level: Primary
  • # of students: 462
  • # of teachers: 28
9
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating
 

$260,999$318,999$289,999

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$1,070
Property Tax -$112
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$92

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.

$289,999

PROJECTED PRICE

$1,270

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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-$4.0k-$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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,499
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,396

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,2704$1,3005$1,475
$1,475
RENT COMPS ANALYSIS
  • 940 Nye Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1957 4 beds 2 baths ∙ 1,761 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.72
    •  
  • 928 Robin Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1957
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 100 Woodley Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,561 Sqft ∙ Built 1959 3 beds 1 baths ∙ 1,561 Sqft ∙ Built 1959
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 1320 Robin Street Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,844 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,844 Sqft ∙ Built 1965
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.70
    •  
  • 404 Delamar Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1960
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247818
Last Updated: 11/14/2020
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