3116 Kings WAY Las Vegas, NV 89102
5 Beds
6 Baths
1,434 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 1,434 sqft
Price per Sqft $152
Subdivision Richfield Village
MLS Listing ID 2791719
Style One Story
Bedrooms 5
Full Baths 2
Three Quarter Bath 4
Construction Status Resale,Fixer
HOA Y/N No
Year Built 1963
Annual Tax Amount $1,172
Lot Size 6,969 Sqft
Acres 0.16
Property Sub-Type Single Family Residence
Property Description
% of Gross Income
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 Income
5 bedrooms + studio = $6,500/month
Annual = $78,000
Adjust for 90% occupancy
Effective Gross Income = about $70,200/year
Example expense budget (30%)
Expenses ˜ $21,000/year
Net Operating Income
Approximately $49,000/year
Using common investor cap rates:
Cap Rate Value
10% $490,000
8% $612,000
A one-third interest before any minority discount would be approximately:
$163,000 at a $490k valuation
Location
State NV
County Clark
Zoning Single Family
Direction Sahara to, Richfield Blvd to Kings way west.
Rooms
Other Rooms Guest House
Interior
Interior Features Bedroom on Main Level, Primary Downstairs, None, Programmable Thermostat
Heating Electric, Multiple Heating Units, Wall Furnace
Cooling Electric, None
Flooring Concrete, Linoleum, Other, Tile, Vinyl
Furnishings Unfurnished
Fireplace No
Window Features Insulated Windows,Low-Emissivity Windows
Appliance Other
Laundry Electric Dryer Hookup, In Garage, Main Level
Exterior
Exterior Feature Patio, Private Yard
Parking Features Attached Carport, Air Conditioned Garage, Exterior Access Door, Electric Vehicle Charging Station(s), Guest, Inside Entrance, Tandem
Garage Spaces 1.0
Carport Spaces 2
Fence Block, Back Yard
Utilities Available Electricity Available
Amenities Available None
Water Access Desc Public
Roof Type Composition,Shingle
Street Surface Paved
Porch Covered, Patio
Garage Yes
Private Pool No
Building
Lot Description < 1/4 Acre
Faces South
Story 1
Sewer Public Sewer
Water Public
Additional Building Guest House
Construction Status Resale,Fixer
Schools
Elementary Schools Bell, Rex, Bell, Rex
Middle Schools Cashman James
High Schools Clark Ed. W.
Others
Senior Community No
Tax ID 162-08-114-047
Ownership Single Family Residential
Acceptable Financing All Inclusive Trust Deed, Cash, Conventional, Contract, FHA, Lease Option, Owner Will Carry, Rehab Financing
Listing Terms All Inclusive Trust Deed, Cash, Conventional, Contract, FHA, Lease Option, Owner Will Carry, Rehab Financing
Special Listing Condition In Foreclosure
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