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10229 Mayflower Bay Avenue Las Vegas, NV 89166

3 Beds 3 Baths 1,447 sqft Built 2014

$284,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $196.89
  • 3 Days on Market
  • MLS # : 2246344
  • Updated Date : 11/07/2020 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,447 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

Beautiful, well maintained, super clean 3-bedroom 2.5 bath home located in Providence, a master planned community located in the northwest edge of Las Vegas. Proximity to both I-95 and I-215 freeways. Nice open floorplan, two tone paint, owner has replaced all the carpet with gorgeous wood laminate flooring. The kitchen boasts granite counters, a center island, tile flooring, walk in pantry, double door refrigerator, and a RO system. The master suite offers vaulted ceilings, walk in closet, separate shower, garden tub and dual sinks. Plantation shutters throughout, security doors at both the front and back, upstairs laundry room, covered patio, overhead storage racks in the garage, community pool and so much more. This one is picture perfect and move in ready. Schedule to see it today.

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: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cliffs Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Arbor View High School High Regular 2,878 116 9

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Arbor View High School

  • Education Level: High
  • # of students: 2,878
  • # of teachers: 116
9
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,051
Property Tax -$251
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$127

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.

$284,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,371

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,5504$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 10229 Mayflower Bay Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,447 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 10303 Elmwood Glen Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,451 Sqft ∙ Built 2014
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 7224 Beachwood Crest Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2007
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 7229 Puddle Duck Street #n/a Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,632 Sqft ∙ Built 2014
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 10227 Headrick Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,608 Sqft ∙ Built 2008
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Christopher T Piper
1.702.245.0595
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246344
Last Updated: 11/07/2020
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