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1021 Vegas Palm Avenue North Las Vegas, NV 89032

3 Beds 3 Baths 2,169 sqft Built 2015

$360,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $165.98
  • 4 Days on Market
  • MLS # : 2249178
  • Updated Date : 11/19/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,169 sqft
  • Baths : 2 full , 1 half
Listing Agent

Innova Realty & Management

Listing Agent's Description

No need to look any further. A rare find. Gorgeous one-story home with 3 beds, 2.5 baths, with 2 Car Garage built-in 2016 at the end of a culdesac. Tile Flooring throughout the home. Carpet in all the bedrooms. The kitchen has granite countertops, backsplash, upgraded cabinets, kitchen island, recessed lighting, pantry, wine cooler, and all kitchen appliances included. Formal Dining room next to the kitchen and a huge living room area. The Master bedroom is separate from the guest bedroom. Master Bathroom has a double sink, makeup section, and walk-in closet. Separate walk-in shower and tub. The laundry room is a good size with shelves and a washer and dryer included. The backyard is a nice size with pavers, a gazebo, and desert landscaping. Come and check it out!!

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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Cheyenne High School High Regular 2,212 91 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,328
Property Tax -$285
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
-$162

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$360,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$11,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,692

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6404$1,6505$1,749
$1,749
RENT COMPS ANALYSIS
  • 1021 Vegas Palm Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,169 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.76
    •  
  • 3624 Sable Palm Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1995
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.75
    •  
  • 3612 Russian Olive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1996 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.75
    •  
  • 3645 Sable Palm North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1995
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 917 Vegas Palm Avenue North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2008
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.79
    •  
PROPERTY LISTING DETAILS
Isidro Ruiz
1.702.275.3658
Innova Realty & Management
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249178
Last Updated: 11/19/2020
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