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10361 Natural Springs Avenue Las Vegas, NV 89129

2 Beds 3 Baths 1,499 sqft Built 2000

INVESTimate

$277,995

List Price

$1,370

$1,233 - $1,507

Rent Est.

$307,490  ( +10.61%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $185.45
  • 15 Days on Market
  • MLS # : 2221159
  • Updated Date : 08/25/2020 at 12:43
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,499 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

Amazing, highly upgraded corner lot home in a gated community with huge loft and community pool! Granite countertops, double master bedrooms, beautiful tile flooring, open cathedral ceilings, and much more. Can be easily converted to a three-bedroom! This truly is a must-see!

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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: Cheyenne Hualapai

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Cheyenne Hualapai

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
 

$250,196$305,795$277,995

PURCHASE PRICE

$1,233$1,507$1,370

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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 $1,370
EXPENSES Loan Payment -$1,026
Property Tax -$190
Property Insurance -$56
HOA -$41
Property Management Fees -$119
CASH FLOW
-$62

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.

$277,995

PROJECTED PRICE

$1,370

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.61%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,419

INVESTMENT

$79,419

Down Payment
$69,499
Rehab Estimate
$5,750
Closing Costs
$4,170

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,026

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,499
Loan Amount $208,496
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$16,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,349

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2503$1,2504$1,2995$1,370
$1,370
RENT COMPS ANALYSIS
  • 10361 Natural Springs Avenue Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,499 Sqft ∙ Built 2000 2 beds 3 baths ∙ 1,499 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.91
    •  
  • 3364 Indian Shadow Street #101 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,242 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,242 Sqft ∙ Built 2004
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.89
    •  
  • 3655 Mule Train Court Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,340 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,340 Sqft ∙ Built 2002
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 10413 Coffee Grinder Court Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,372 Sqft ∙ Built 2004 2 beds 2 baths ∙ 1,372 Sqft ∙ Built 2004
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 10404 Sloping Hill Avenue Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,499 Sqft ∙ Built 1998 2 beds 3 baths ∙ 1,499 Sqft ∙ Built 1998
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.87
    •  
PROPERTY LISTING DETAILS
Kendle L Kulpa
1.702.581.7000
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221159
Last Updated: 08/25/2020
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