BEDS5
BATHS6 full
SQUARE FEET1,434
MLS#2791719
STATUS(Bank Owned) - Active
PROPERTY TYPEResidential - Single Family
SUBDIVISIONRichfield Village
Property Description
This is a unique situation. The seller would like to discuss all creative options. The home is going to need substantial renovation. PadSplit type of co-living candidate.Property taxes 4%?6%Insurance 2%?4%Utilities (if owner-paid) 10%?15%Repairs & maintenance reserve 5%?10%Vacancy & credit loss 5%?10%Landscaping/pest control 1%?3%Capital reserves (future HVAC, roof, appliances, etc.) 5%?10%Total (self-managed) 25%?40%Gross Potential Income5 bedrooms + studio = $6,500/monthAnnual = $78,000Adjust for 90% occupancyEffective Gross Income = about $70,200/yearExample expense budget (30%)Expenses ?? $21,000/yearNet Operating IncomeApproximately $49,000/yearUsing common investor cap rates:Cap Rate Value10% $490,0008% $612,000A one-third interest before any minority discount would be approximately:$163,000 at a $490k valuation
Property Features
Property Type: Residential - Single Family
Cooling: Electric, None
Garage: 1
Heating: Electric, Multiple Heating Units, Wall Furnace
Home Style: One Story
Lot Size: 0.16 Acres
Roof Type: Composition, Shingle
Stories: 1.0
Taxes: $1,172
Year Built: 1963
Amenities
Bedroom on Main Level
Primary Downstairs
None
Programmable Thermostat
Patio
Private Yard
Feature Descriptions
Appliances: Other
Association Amenities: None
Days on Site: 6
Fencimg: Block, Back Yard
Flooring: Concrete, Linoleum, Other, Tile, Vinyl
Laundry: Electric Dryer Hookup, In Garage, Main Level
Lot: < 1/4 Acre
Parcel#: 162-08-114-047
Parking: Attached Carport, Air Conditioned Garage, Exterior Access Door, Electric Vehicle Charging Station(s), Guest, Inside Entrance, Tandem
Parking Notes: Attached Carport, Air Conditioned Garage, Exterior A
Patio/Porch: Covered, Patio
Sewer: Public Sewer
Utilities: Electricity Available
Water: Public
Window: Insulated Windows, Low-Emissivity Windows
Room Sizes
Living Room: 15 X 30
Local Schools
High School: Clark Ed. W.
Middle School: Cashman James
Elementary School: Bell, Rex,Bell, Rex
Listed By / Shown By
Listed By
Agency Name: Real Broker LLC
Agency Contact: (702) 343-7777
Agent Name: Joseph Modig
Shown By
Agency Title: Wardley Real Estate
Agency Phone: 702-256-4900
Estimate Your Payment
Estimated Payment
$ 997.97 per month $836.43 Principal & Interest $97.67 Property Tax $63.88 Homeowner's Insurance
3116 Kings Way | MLS# 2791719
This single family home located at 3116 Kings Way, Las Vegas, NV 89102 is currently listed for sale with an asking price of $219,000. This property was built in 1963 and has 5 bedrooms and 6 full baths with 1434 sq. ft. Kings Way is located in the Richfield Village subdivision. Search Richfield Village real estate on www.wardleyre.com today.