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10331 Rio De Thule Lane Las Vegas, NV 89135

2 Beds 2 Baths 2,060 sqft Built 2005

$579,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $281.50
  • 3 Days on Market
  • MLS # : 2258528
  • Updated Date : 01/03/2021 at 05:24
CONSTRUCTION
  • Beds : 2
  • Floor Size : 2,060 sqft
  • Baths : 2 full
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

Absolute TURNKEY JEWEL in coveted 55+ SIENA!! Enjoy peace of mind of SECURE GUARD GATED COMMUNITY.. This ORIGINAL OWNER home welcomes you with BRAZILIAN PAVERS & PICTERESQUE COURTYARD! UPGRADED interior-exclusively HARDWOOD/MARBLE flooring & PLANTATION SHUTTERS along w/CROWN MOULDING throughout. KITCHEN features GRANITE...VAULTED CEILING...RECESSED/PENDANT lighting/CHANDELIERS & SKYLIGHTS...GLASS CABINETS..NEWER SS appliances(ALL INCLUDED!)..Huge window off kitchen highlights COLORFUL BACKYARD & GREENBELT filled with MATURE TREES!..OPEN living room off kitchen w/stylish built in bookcases - DEN w/fireplace display is cozy & perfect for TV & Games...Primary bedroom has WET BAR/WINE COOLER, Covered Patio, walk-in closet.. Feel like ROYALTY in primary bath with Marble & NEW GRANITE for En suite double sink & VANITY..Separate tub/shower...Separate laundry room..Private office w/built in desk...FINISHED GARAGE...Please stop by to appreciate the attention to detail! - Furnished considered

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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: Siena

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $119k432k

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

Neighborhood: Siena

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762324

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$521,910$637,890$579,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$2,140
Property Tax -$287
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$443

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.

$579,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$159,424

INVESTMENT

$159,424

Down Payment
$144,975
Rehab Estimate
$5,750
Closing Costs
$8,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $144,975
Loan Amount $434,925
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$11,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,178

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,735
1$1,7352$2,1703$2,2504$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 10331 Rio De Thule Lane Las Vegas, NV 2
    • 2 beds 2 baths ∙ 2,060 Sqft ∙ Built 2005 2 beds 2 baths ∙ 2,060 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.05
    •  
  • 10234 Tresor Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,719 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,719 Sqft ∙ Built 2005
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,735
    • $1.01
    •  
  • 4917 Leffetto Street Las Vegas, NV 3
    • 2 beds 2 baths ∙ 2,132 Sqft ∙ Built 2003 2 beds 2 baths ∙ 2,132 Sqft ∙ Built 2003
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.06
    •  
  • 10307 Rio De Thule Lane Las Vegas, NV 4
    • 2 beds 3 baths ∙ 2,084 Sqft ∙ Built 2005 2 beds 3 baths ∙ 2,084 Sqft ∙ Built 2005
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.08
    •  
  • 10366 Premia Place Las Vegas, NV 5
    • 2 beds 3 baths ∙ 2,216 Sqft ∙ Built 2004 2 beds 3 baths ∙ 2,216 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.08
    •  
PROPERTY LISTING DETAILS
Brett Maddux
1.702.682.4632
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258528
Last Updated: 01/03/2021
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