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10055 Long Barrow Court Las Vegas, NV 89148

3 Beds 2 Baths 2,026 sqft Built 2004

$425,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $209.77
  • 2 Days on Market
  • MLS # : 2260514
  • Updated Date : 01/10/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,026 sqft
  • Baths : 2 full
Listing Agent

Realty Expertise

Listing Agent's Description

MUST SEE! Absolutely stunning SINGLE STORY home with POOL/SPA in charming STETSON RANCH in 89148! This beautiful GATED community is right outside Summerlin close to Bishop Gorman high school, 215 freeway, parks, and dining. Home features soaring 11 foot ceilings. Laminate wood, travertine, marble, and tile flooring throughout, NO CARPET! Custom cabinetry and dark granite compliment the open kitchen with stainless steel appliances and nook. PLANTATION SHUTTERS on every window! Huge great room with stacked stone fireplace, in-ceiling surround, and custom built-in hutch. Good size bedrooms with upgraded lighting. HUGE master bedroom with river rock fireplace and TWO walk in closets. Master bath has travertine throughout with JACUZZI tub. Sunroom with 8 foot FRENCH DOORS that open to lush and tropical backyard w/ PEBBLE TEC pool and above ground spa. Highly efficient pool pump recently installed. HOME'S EXTERIOR AND INTERIOR JUST REPAINTED!!! The list goes on, THIS WON'T LAST!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k329k

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

Neighborhood: Southern Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691735

* 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
Shelley Berkley Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Shelley Berkley Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,476
Property Tax -$275
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$286

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.

$425,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.4%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,666

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,6504$1,6505$1,995
$1,995
RENT COMPS ANALYSIS
  • 10055 Long Barrow Court Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,026 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 9986 Big Bow Springs Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,924 Sqft ∙ Built 2005
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 10065 Claverton Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2004
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 6341 Old Rose Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 2005
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 9931 Rockside Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 2003
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.91
    •  
PROPERTY LISTING DETAILS
Eddie Meese
1.702.217.8012
Realty Expertise
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260514
Last Updated: 01/10/2021
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