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10341 Timber Willow Avenue Las Vegas, NV 89135

3 Beds 2 Baths 1,661 sqft Built 1998

$550,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $331.13
  • 3 Days on Market
  • MLS # : 2253444
  • Updated Date : 12/04/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,661 sqft
  • Baths : 2 full
Listing Agent

Lvreal

Listing Agent's Description

Beautiful 1 story in Summerlin! Open floor plan with upgraded flooring throughout, custom kitchen cabinets and separate laundry with sink. Alluring bay windows in master bedroom and kitchen nook give this home an expansive view of the zen retreat backyard and mountains. 3 car tandem garage with built in closets. Backyard features pristine mature landscaping, built in BBQ and covered patio and dog run. An open floor plan, updated kitchen backsplash, stainless steel appliances, custom built in kitchen nook, custom closets, updated tile fireplace set this home apart! Ideal location minutes away from the action of Downtown Summerlin, City National Arena and Las Vegas Ballpark.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Victoria Fertitta Middle School

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

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$2,029
Property Tax -$228
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$816

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.

$550,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,029

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$234

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6003$1,6204$1,6955$1,865
$1,865
RENT COMPS ANALYSIS
  • 10341 Timber Willow Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.98
    •  
  • 2687 Spruce Creek Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,527 Sqft ∙ Built 1999
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 2821 Autumn Haze Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 1988
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 2892 Desert Zinnia Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1999
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.92
    •  
  • 2942 Desert Zinnia Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1999
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $1.01
    •  
PROPERTY LISTING DETAILS
Kimberly Braaten
1.702.219.3045
Lvreal
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253444
Last Updated: 12/04/2020
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