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10305 Longwood Drive Las Vegas, NV 89134

2 Beds 2 Baths 1,327 sqft Built 1998

INVESTimate

$320,000

List Price

$1,380

$1,242 - $1,518

Rent Est.

$348,960  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $241.15
  • 7 Days on Market
  • MLS # : 2223293
  • Updated Date : 08/23/2020 at 12:49
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Sw

Listing Agent's Description

Immaculate move-in ready Bristol home with expanded floorplan. Bright kitchen with extended cabinets with lots of storage, vaulted ceilings and bay window. Enclosed patio functions as an extra guestroom with pull-down custom bed or extra entertaining space. Beautiful master bedroom with gorgeous floors and large walk-in closet. Large garage with plenty of cabinets, storage racks and water softner. Low maintenance backyard with patio and awning. Excellent location minutes away from Club house, shopping and freeway.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,181
Property Tax -$218
Property Insurance -$53
HOA -$137
Property Management Fees -$119
CASH FLOW
-$328

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.

$320,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,007

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,456

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3803$1,5004$1,5255$1,700
$1,700
RENT COMPS ANALYSIS
  • 10305 Longwood Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,327 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,327 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.04
    •  
  • 10313 Long Leaf Place Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,215 Sqft ∙ Built 1998 2 beds 1 baths ∙ 1,215 Sqft ∙ Built 1998
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.07
    •  
  • 10409 Sea Palms Avenue Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1997 2 beds 1 baths ∙ 1,360 Sqft ∙ Built 1997
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 10317 Trenton Place Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 1996
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.10
    •  
  • 10316 Georgetown Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,519 Sqft ∙ Built 1996 2 beds 2 baths ∙ 1,519 Sqft ∙ Built 1996
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
PROPERTY LISTING DETAILS
Essie Taylor
1.702.561.2505
Keller Williams Realty Sw
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223293
Last Updated: 08/23/2020
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