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1021 Puerta Del Sol Drive Las Vegas, NV 89138

3 Beds 3 Baths 2,440 sqft Built 2005

$440,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $180.33
  • 3 Days on Market
  • MLS # : 2246116
  • Updated Date : 11/06/2020 at 07:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,440 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Fabulous Summerlin West Home in Gated Casa Rosa Now Available! This 2-story home features, 3 beds, 2.5 baths, 2-bay garage, vaulted ceilings in living and dining rooms, ceiling fans t/o, no neighbor behind, kitchen island, double built-in ovens and all other appliances included. The home is conveniently located near the 215 Beltway & Summerlin Parkway, Red Rock National Conservation Area, Downtown Summerlin and Red Rock Casino & Resort.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,623
Property Tax -$326
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
-$113

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.

$440,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,194

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,269

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,0953$2,1004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 1021 Puerta Del Sol Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
  • 1016 Bonitos Suenos Street Las Vegas, NV 2
    • 3 beds 4 baths ∙ 2,440 Sqft ∙ Built 2006 3 beds 4 baths ∙ 2,440 Sqft ∙ Built 2006
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.86
    •  
  • 11621 Cabo Del Verde Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 1351 Manorwood Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2007
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
  • 1327 Marshfield Road Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,548 Sqft ∙ Built 2007
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jason J Schielke
1.702.858.7598
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246116
Last Updated: 11/06/2020
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