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PROPERTY INFO
FACTS
- Single Family
- Built In 2009
- Price/Sqft : $229.66
- 3 Days on Market
- MLS # : 2271525
- Updated Date : 02/21/2021 at 00:21
CONSTRUCTION
- Beds : 3
- Floor Size : 1,959 sqft
- Baths : 2 full
Listing Agent
Home Quest Inc
Listing Agent's Description
Stunning home located in the highly desirable Log Cabin subdivision. Rear of property abuts protected government land, providing unobstructed views of the Sheep Mtn. range. So many upgrades are included in this fantastic home! 3 beds, 2 full baths plus den or formal dining room. Extra large, extended 3 car garage. Freshly painted exterior; all appliances included, featuring stainless kitchen appliances, smart refrigerator, smart washer & dryer, water softener; many SMART features and controls (Nest, RING, etc.); highly upgraded kitchen w/ granite counters and powered island; farmhouse stainless sink; double oven; delightful back yard with covered paver patio and natural gas fireplace and hood; outdoor shed; security front gate and upgraded double entry doors; French rear double doors; upgraded light fixtures; custom interior paint; gorgeous wood laminate flooring; upgraded ceiling fans; vaulted ceils; surround sound; high tech surveillance system included; so much MORE--come see!
SEE MORE
- 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: Tule Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tule Springs
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,690 |
| EXPENSES | Loan Payment | -$1,563 |
| Property Tax | -$315 | |
| Property Insurance | -$65 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$372
|
||
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.
$449,900
PROJECTED PRICE
$1,690
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,974
LOAN DETAILS
$1,563
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $112,475 |
| Loan Amount | $337,425 |
1.67
YEARS SAVED
$4,777
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,690
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,753
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
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- $1,600
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8948 Echo Grande Drive #n/a Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2005
LEASED 02/07/20- Rent
- Rent Per SQFT
- $1,600
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-
8828 Regatta Bay Las Vegas, NV 5
- 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2006
LEASED 06/03/20- Rent
- Rent Per SQFT
- $1,900
- $0.92
PROPERTY LISTING DETAILS
1.702.400.0675
Home Quest Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271525
Last Updated: 02/21/2021
