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10424 Loma Portal Avenue Las Vegas, NV 89166

3 Beds 3 Baths 2,099 sqft Built 2009

$409,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $195.28
  • 5 Days on Market
  • MLS # : 2266481
  • Updated Date : 02/04/2021 at 17:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,099 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gk Properties

Listing Agent's Description

Welcome to this fabulous pool home in the gated community in Providence. Featuring 3 bedrooms, 2 1/2 bathrooms, and a 3 car garage. Paver walkway leads you into the foyer of this open floor plan concept home. Large chefs kitchen with dual built-in ovens, gas cooktop, granite countertops, and custom backsplash. Living room with built-in entertainment center, vaulted ceilings and surround sound. Downstairs primary suite with walnut floors and a walk-in closet. Spa-like primary bath with glass bowl sinks, garden tub, and glass-enclosed shower. Upstairs you will find 2 bedrooms and a lovely faux brick loft. Backyard with gated sparkling pool, built-in BBQ, covered patio, and synthetic lawn. This amazing upgraded home will not last.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Kensington at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $119k447k

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

Neighborhood: Kensington at Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762151

* 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
Henry And Evelyn Bozarth Elementary School Primary Regular 905 40 8
Edmundo Eddie Escobedo Sr Middle School Middle Regular 1,171 47 NA
Centennial High School High Regular 3,055 124 6

Henry And Evelyn Bozarth Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 40
8
GreatSchools Rating

Edmundo Eddie Escobedo Sr Middle School

  • Education Level: Middle
  • # of students: 1,171
  • # of teachers: 47
NA
GreatSchools Rating

Centennial High School

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

$368,910$450,890$409,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,424
Property Tax -$346
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$257

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.

$409,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7003$1,7004$1,7005$1,775
$1,775
RENT COMPS ANALYSIS
  • 10424 Loma Portal Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,099 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 10521 Hartford Hills Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2010
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.80
    •  
  • 10639 Ostend Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2011
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 10746 Fenway Park Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,006 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,006 Sqft ∙ Built 2016
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 10652 Cumberland Creek Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 2013
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.83
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266481
Last Updated: 02/04/2021
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