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10356 Faustine Avenue Las Vegas, NV 89129

3 Beds 3 Baths 1,650 sqft Built 2004

$282,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $170.91
  • 33 Days on Market
  • MLS # : 2236383
  • Updated Date : 11/02/2020 at 00:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

NW HOME LOCATED ON CUL-DE-SAC!! Great floorplan features formal living with built-in bookcase and high ceiling. Spacious kitchen with recessed lighting, breakfast bar, and pantry. Small loft area perfect for home office or workspace. Nice size primary bedroom with walk-in closet. Primary full bath with double sinks and separate tub and shower. Nice yard with desert landscaping. A TRUE TREASURE!!

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: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k326k

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

Neighborhood: Lone Mountain

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10701616

* 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
Eileen Conners Elementary School Primary Regular 797 43 8
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Eileen Conners Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 43
8
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,040
Property Tax -$209
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
$53

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.

$282,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$27,384

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,481

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4804$1,4905$1,500
$1,500
RENT COMPS ANALYSIS
  • 10356 Faustine Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.90
    •  
  • 10231 Delray Beach Avenue #101 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 2004
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 10336 Faustine Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,476 Sqft ∙ Built 2004
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 10456 Armand Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2003
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.90
    •  
  • 10364 Cherokee Corner Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,708 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,708 Sqft ∙ Built 2005
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Timothy J Mckenna
1.702.434.4663
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2236383
Last Updated: 11/02/2020
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