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10300 Huxley Cross Lane Las Vegas, NV 89144

3 Beds 2 Baths 2,040 sqft Built 1997

$474,500

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $232.60
  • 2 Days on Market
  • MLS # : 2260478
  • Updated Date : 01/10/2021 at 04:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,040 sqft
  • Baths : 2 full
Listing Agent

Re/max Reliance

Listing Agent's Description

Single story home in the heart of Summerlin. House features an open floor plan, high ceilings, tile flooring in the common area. Three bedrooms with carpet, 2 full baths, office/den. Formal living room in front with a dining area. Family room with lighted ceiling fan, fireplace. Kitchen features island, tile countertops, recessed lighting, built in appliances. Nice size primary bedroom with large walk-in closet, and ceiling fan. Primary bath has double sinks, separate shower and garden tub. Well manicured backyard, tile patio, synthetic grass. Great location, near Summerlin hospital, Downtown Summerlin with shopping, dining, sports facilities, easy access to the freeways, plus more! ** June 2020 new water heater installed, 2019 new A/C unit, garage door opener with new springs installed, 2018 new double ovens, new coach lights on side of garage**

SEE MORE

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: The Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Crossing

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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
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
 

$427,050$521,950$474,500

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,648
Property Tax -$267
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$251

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.

$474,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$1.6M

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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,493

INVESTMENT

$131,493

Down Payment
$118,625
Rehab Estimate
$5,750
Closing Costs
$7,118

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,648

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,625
Loan Amount $355,875
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,719

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,851

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 10300 Huxley Cross Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 10240 Sun Dusk Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 1997
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 10224 Via Roma Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,922 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,922 Sqft ∙ Built 1999
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 10216 San Giano Place #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,922 Sqft ∙ Built 1999
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 10241 Amber Hue Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 1997
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
PROPERTY LISTING DETAILS
Robert Ratliff
1.702.807.5528
Re/max Reliance
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260478
Last Updated: 01/10/2021
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