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9512 Quitman Avenue Las Vegas, NV 89149

3 Beds 3 Baths 1,541 sqft Built 2006

$275,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $178.46
  • 4 Days on Market
  • MLS # : 2256470
  • Updated Date : 12/18/2020 at 17:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,541 sqft
  • Baths : 2 full , 1 half
Listing Agent

Life Realty District

Listing Agent's Description

OPEN CONCEPT PLAN, BEAUTIFUL HOUSE. Dual master one is upstairs and the other is upstairs. Kitchen has extra cabinet. 3 BEDROOMS WITH BIG LOFT, HIGH CEILING, GRANITE COUNTER, TILE FLOORING DOWNSTAIRS, CARPET UPSTAIRS.CHECK 3D VIRTUAL TOUR

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cascade

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k311k

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

Neighborhood: Cascade

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9691606

* 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
Sandra L. Thompson Elementary School Primary Regular 798 39 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Sandra L. Thompson Elementary School

  • Education Level: Primary
  • # of students: 798
  • # of teachers: 39
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$1,015
Property Tax -$223
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
$166

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.

$275,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
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$0.0$5.0k$10k$15k$20k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$39,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,449

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4504$1,5805$1,650
$1,650
RENT COMPS ANALYSIS
  • 9512 Quitman Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.03
    •  
  • 9545 Gibbon Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2005
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.92
    •  
  • 9520 Gibbon Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2006
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 7816 Ithaca Falls Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,541 Sqft ∙ Built 2004
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 9428 Medford Falls Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,715 Sqft ∙ Built 2004
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
PROPERTY LISTING DETAILS
Nancy Chen
1.702.758.3798
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256470
Last Updated: 12/18/2020
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