2447794 - 990 Pecos River Ave

Index

MLS Main Photo and Location Map
Video Link
Estimated Return
Multi Year Return
Property Summary
Recent Similar Rentals
Recent Similar Sales
Property Manager Opinion
Renovation Estimate
MLS Photos

MLS Main Photo and Location Map

Video Link

Click Here

Estimated Return

Rent/Price: 1850/374000
Cash Flow (Cash/Financed): 1511/-59
Initial ROI (Cash/Financed): 4.8%/-0.6%

Rent/Price: 1950/374000
Cash Flow (Cash/Financed): 1603/33
Initial ROI (Cash/Financed): 5.1%/0.3%

Assumption: closing cost 2%, interest rate 6%, down payment rate 30%

Multi Year Return

Purchase Price	374000
Rent (Mo)	1900
Annual Rent Growth Rate (%)	8%
Annual Appreciation Rate (%)	10%
Fees (Mo)	28
Insurance (Yr)	450
Property Tax (Yr)	1512
Management (%)	8%
Closing Cost Financed (%)	2%
Additional Closing Cost	0
Closing Cost Cash	2000
Loan Rate (%)	6.0%
Loan Term (Yrs)	30
Down (%)	30%
Debt Service	1570

Acquisition Cost
Down Payment	-112200
Closing Cost	-7480
Total Acquisition Cost	-119680

Income (Mo) at 10%
Year		1	2	3	4	5
Rent	1900	2052	2216	2393	2584	2791

Recurring Expenses (Mo)
Debt Service	-1570	-1570	-1570	-1570	-1570	-1570
Management	-152	-164	-177	-191	-207	-223
Insurance	-38	-38	-38	-38	-38	-38
Property Tax	-126	-126	-126	-126	-126	-126
Fees	-28	-28	-28	-28	-28	-28
Total	-1914	-1926	-1939	-1953	-1969	-1985

Return (Financed)
Cash Flow Financed (Mo)	-14	126	277	440	615	806
ROI Financed	-0.13%	1.19%	2.61%	4.15%	5.8%	7.61%

Return (Cash)
Cash Flow Cash (Mo)	1556	1696	1847	2010	2185	2376
ROI Cash	4.97%	5.41%	5.89%	6.41%	6.97%	7.58%

Appreciation at 10%
Year		1	2	3	4	5
Market Value / Equity with Cash	374000	411400	452540	497794	547573	602330
Equity with 30% Down	112200	149600	190740	235994	285773	340530

Property Summary

Item	Amount	Item	Amount	Item	Amount
Asking Price	$374000	SqFt	1403	Garage	2
$/SqFt	$267.0	Lot SqFt	3920	Year Built	2008
Days on Market	100 Days	Beds	3	Private Pool	No
Initial Price	$378500	Baths	2
Fees	$28/Mo	Stories	1

Recent Similar Rentals

MLS	Dist	Price	SqFt	$/SqFt	Beds	Garage	Built	Lot	Close	Days	Stories	Address	Pool
2428831	0.77	1950	1431	1.36	3	2	1997	6098	2022-12-15	119	1	1037 Juniper Ridge Ave	No
2451447	0.64	2070	1431	1.45	3	2	1996	6098	2022-11-17	5	1	1107 Nordyke Ave	No
2454311	0.41	1895	1243	1.52	3	2	1991	6098	2022-12-19	24	1	925 Rifle Dr	No

Estimated value based on the above comps: $1.44 / SqFt x 1403 SqFt = $2,020

Recent Similar Sales

MLS	Dist	Price	SqFt	$/SqFt	Beds	Garage	Built	Lot	Close	Days	Stories	Address	Pool
2436035	0.20	397000	1403	282	3	2	2007	4356	2022-12-13	75	1	510 Big Lake St	No
2455763	0.69	391695	1437	272	3	2	1990	8712	2023-01-05	16	1	1221 Equestrian Dr	No
2457510	0.30	360700	1403	257	3	2	2006	4356	2022-12-29	0	1	966 Trinity Pond Cir	No
2461498	0.44	392000	1562	250	4	3	1996	6098	2023-01-11	14	1	731 Canyon Country Cir	No

Estimated value based on the above comps: $265 / SqFt x 1403 SqFt = $371,800

Property Manager Opinion

This property would rent for $1850 - $1995 in 3 -5 weeks.Short drive to Heritage Park. Easy access to both the 95 and 215 highways. Lake Las Vegas, The District, Galleria Mall, and Downtown Water Street are all nearby.

Pros

Desert landscape, flooring, sec door, raised panel doors, granite counters, block perimeter wall, recessed lights,

Recommended Renovation Items

Remove screens
Smart Key locks 3
Doorbell 1
Replace the interior hardware on the doors that do not match
Paint garage
Power wash garage
Rice paper on shower windows 2
Light switch 1
Interior paint - 100%
Baseboards throughout
Remove carpet tape on floors
Cabinet pulls throughout
Remove drapes
Add pavers in the backyard to create a patio

Renovation Estimate

The following estimate is based only on the limited available information. The estimate is only an educated guess intended to provide a general idea of the renovation cost, not the actual cost. We included a cost pad to cover the smaller cost items and unknown costs. The unknown costs could be significantly more than the estimate below. We will not have an accurate renovation cost estimate until the property is under contract, all inspections are complete, and quotes obtained from appropriate vendors. At that time, we will reevaluate the property. If it still makes sense, we will proceed to close. If not, cancel the purchase and look for another property.

Cost Items	Amount
Cabinet/Drawer pulls (40)	480
Caulk (1)	85
Cost pad (4)	2000
Digital doorbell (1)	165
Dishwasher (1)	350
Dryer (1)	350
Exterior door lock (3)	300
Install baseboards (100%)	1168
Janitorial (1)	300
Landscape cleanup (1)	100
Make ready (1)	300
Microwave (1)	250
Paint external door (1)	125
Paint garage interior (1)	150
Paint interior (100%)	2596
Patio pavers (1)	8
Power wash garage (1)	100
Professional photos (1)	100
Refrigerator (1)	900
Rice paper (2)	110
Stove (1)	350
Toilet seat (1)	35
Washer (1)	350
Estimated Total	10672

Notes

Appliances - All appliance prices are for used appliances. Used appliances typically cost about 50% of the price of new appliances. Used appliances may have minor dings and dents, which is acceptable in a rental property. Used appliances typically have a three-month warranty.
Cabinet/Drawer pulls - Pulls make the cabinets look better and protect the cabinet surface. Pulls are especially important for painted cabinets. If people touch the painted cabinet edge to open/close the cabinet, the paint will chip and peel. If this occurs, the cabinets will need to be touched up or repainted.
Caulk - Caulk all bathrooms as needed.
Digital doorbell - Replace existing digital doorbell with standard doorbell and install chimes. Touch up stucco as needed.
Exterior door lock - Replace current lock and handle/knob with Kwikset SmartKey deadbolt and matching pass knob.
Janitorial - Once the renovation is complete, the property will be cleaned, including interior window washing where feasible.
Landscape cleanup - One-time landscape cleanup, including tree/foliage trimming as needed. Also, verify that the irrigation is working and properly programmed and the battery replaced.
Make ready - Replace all burnt and pigtail style bulbs, installing 4K light bulbs in all bathrooms, and replacing HVAC filters (price is subject to change depending on filter and bulb quantity)
Pad for unexpected items found during the inspection and small items. This amount may be removed or adjusted once inspections are complete and we have quotes for all work.
Paint external door - Repaint an exterior door, filling dents as needed. Painting the door is necessary when we replace the current locks because the "footprint" of the new locks will not match the existing lock "footprint".
Paint interior - We use a standard set of paint colors: Ceilings - flat white. Trim and doors - Swiss Coffee. Walls - light tan.
Patio pavers - The quantity shown is the total SF to be installed. This includes labor and materials as well as preparing the ground.
Professional photos - We will arrange for a real estate photographer to take the marketing photos when the renovation is complete. The cost will be $100. The photographer will bill separately at that time; the cost is included in the total to make you aware of this expense.

MLS Photos

(Number of images: 32)

License and Disclaimer: By choosing to use this tool and or information, you are agreeing to the terms on the license page.