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East Las Vegas 4-Unit House Hack - $769/MONTH TRUE COST LIVING
📍 Address: 4244 Middlesex Ave, Las Vegas, NV 89110
💰 Price: $640,000 ($160,000/unit)
🏠 Property: 4 Units (All 2BR/1BA), 2,896 SF, Built 1983
🏦 House Hack Returns: 170% in 3 Years | True Cost: $769/month
Why This is a Great Investment:
East Las Vegas fourplex with all identical 2BR/1BA units offering nearly free living through house hack strategy. With FHA 3.5% down requiring only $38,400 total cash and monthly out-of-pocket of $1,639, the true cost after equity building ($1,150/month principal), appreciation ($1,600/month), and tax benefits ($600/month) drops to just $769/month for 724 SF 2BR unit. Current rents 20-25% below market ($1,150-$1,175 vs $1,500 market) create systematic rent increase path through natural turnover.
This represents accessible house hacking with rapid equity building and minimal management complexity.
House Hack Analysis (3.5% FHA Down) 📝
Investment Metrics | |
|---|---|
Purchase Price | $640,000 |
Down Payment (3.5% FHA) | $22,400 |
Closing Costs | $16,000 |
Total Cash Required | $38,400 |
FHA Rate | 5.949% |
Monthly P&I + MIP | $3,970 |
Monthly Economics 🚀
Cash Flow Analysis | |
|---|---|
Rental Income (3 units) | $3,475 |
Total Monthly Payment | $5,114 |
Net Out-of-Pocket | $1,639/month |
Market Rent Comparison | $1,400-$1,600 |
Premium Over Market | $39-$239/month |
True Cost Calculation | |
|---|---|
Apparent Monthly Cost | $1,639 |
Less Principal Paydown | -$1,150 |
Less Appreciation (3%) | -$1,600 |
Less Tax Benefits | -$600 |
True Monthly Cost | $769 |
3-Year Wealth Building 💰
Equity Creation Timeline | |
|---|---|
Initial Investment | $38,400 |
Year 3 Mortgage Paydown | $45,780 |
Year 3 Appreciation (3%) | $61,505 |
Total Year 3 Equity | $103,685 |
3-Year Return | 170% |
Rent Optimization Path 📈
Year | Avg Rent/Unit | Total Rent | Out-of-Pocket |
|---|---|---|---|
Year 1 | $1,158 | $3,475 | $1,639 |
Year 2 | $1,300 | $3,900 | $1,214 |
Year 3 | $1,500 | $4,500 | $700 |
By Year 3: Live for $700/month while building wealth!
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Lafayette Luxury Flip - $197K IN PREMIUM SCHOOL DISTRICT
📍 Address: 927 2nd St, Lafayette, CA 94549
💰 Price: $1,700,000 ($496/SF)
🏠 Property: 6BR/3.5BA, 3,425 SF, Built 1992
🏦 Capital Required: $329,000 | Net Profit: $197,000 | ROI: 59.9% (6mo)
Why This Works at $1.7M:
Lafayette estate in coveted Acalanes Union High School District offering rare 6BR configuration with manageable cosmetic-to-moderate renovation scope. At $1.7M purchase with $240K renovation reaching conservative $2.46M ARV, this demands $329K total invested but delivers $197K profit protected by school district premium. Recent 6BR comps support $699-$763/SF while this targets $718/SF positioning, with families consistently paying premiums to secure Acalanes enrollment.
This represents accessible luxury flip with strong downside protection from location fundamentals.
Hard Money Analysis (10% Down) 📝
Investment Metrics | |
|---|---|
Purchase Price | $1,700,000 |
Hard Money Down (10%) | $170,000 |
Points (2%) | $34,000 |
Closing Costs | $34,000 |
Cash to Close | $238,000 |
Renovation (HM Funded) | $240,000 |
Holding Costs (6 months) | $91,000 |
Total Cash Invested | $329,000 |
Profit Projections 🚀
6-Month Timeline | |
|---|---|
Conservative ARV | $2,460,000 |
Total Project Cost | $2,032,000 |
Selling Costs | $131,000 |
Hard Money Interest | $100,000 |
Net Profit | $197,000 |
ROI | 59.9% |
Annualized ROI | 120% |
Renovation Scope 🏗️
Category | Budget |
|---|---|
Kitchen & Bath Remodels | $90,000 |
Interior (paint, floors, fixtures) | $90,000 |
Exterior (paint, landscaping) | $40,000 |
Systems & Misc | $20,000 |
Total Renovation | $240,000 |
Comps Supporting $2.46M ARV 📊
Address | Price | SF | $/SF |
|---|---|---|---|
3422 Springhill Rd | $2,700,000 | 3,860 | $699 |
3574 Brookside Dr | $2,595,000 | 3,400 | $763 |
982 Moraga Rd | $2,500,000 | 3,550 | $704 |
Your Property | $2,460,000 | 3,425 | $718 |
Downside Protection 📉
Sale Price | Net Profit | ROI |
|---|---|---|
$2,350,000 | $87,000 | 26% |
$2,400,000 | $137,000 | 42% |
$2,460,000 | $197,000 | 60% |
Even at $2.35M sale: Still profit $87K (26% ROI)