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10353 Calypso Cave Street Las Vegas, NV 89141

4 Beds 4 Baths 2,579 sqft Built 2007

$375,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $145.41
  • 6 Days on Market
  • MLS # : 2257223
  • Updated Date : 12/24/2020 at 10:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,579 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vegas Home Life Realty

Listing Agent's Description

This is a freshly painted 4 bedroom home in the Southwest. 1 bedroom and 1 full bath downstairs for guests. Oversized master bedroom with sitting/home office area. The 2 additional bedrooms upstairs share a Jack & Jill full bathroom with tub. Massive loft for games and entertainment for the whole family. Move-in Ready! The above ground spa IS included. Easy low-maintenance landscaping with extensive use of stamped concrete. Quiet cul-de-sac location.

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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: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k369k

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

Neighborhood: Highlands Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761902

* 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
Aldeane Comito Ries Elementary School Primary Regular 975 57 4
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Aldeane Comito Ries Elementary School

  • Education Level: Primary
  • # of students: 975
  • # of teachers: 57
4
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,384
Property Tax -$257
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
$163

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.

$375,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.5%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$47,976

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,0004$2,0985$2,100
$2,100
RENT COMPS ANALYSIS
  • 10353 Calypso Cave Street Las Vegas, NV 3
    • 4 beds 4 baths ∙ 2,579 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,579 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 10474 Kepler Cascades Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,398 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,398 Sqft ∙ Built 2006
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
  • 10541 Casa Bianca Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,728 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
  • 5088 Bonnie Doon Lane #0 Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,644 Sqft ∙ Built 2013
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,098
    • $0.79
    •  
  • 5042 Bonnie Doon Lane Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,455 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,455 Sqft ∙ Built 2013
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Clinton J Montgomery
1.702.327.4962
Vegas Home Life Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257223
Last Updated: 12/24/2020
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