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10451 Lilac Tree Avenue Las Vegas, NV 89135

3 Beds 3 Baths 1,735 sqft Built 2000

$389,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $224.73
  • 8 Days on Market
  • MLS # : 2280442
  • Updated Date : 03/22/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,735 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

WELCOME HOME !!! BEAUTIFUL TWO- STORY HOME IN SUMMERLIN, LOCATION, LOCATION, LOCATION ! HOME OFFERS MASTER BEDROOM SUITE EXTRA LARGE, 3BDRMS, 2.5 BATHS, 2 CAR GARAGE. UPGRADED FLOORING, WOOD- LIKE, TILE AND CARPET. ALL STAINLESS STEEL APPLIANCES INCLUDED IN PURCHASE PRICE. CEILING FANS ALL THRU- OUT HOME, COVERED PATIO IN BACKYARD WITH CEILING FANS, SYNTHETIC GRASS, AND MISTERS. ALSO, INCLUDES WATER SOFTNER, PRE- WIRED ADT ALARM SYSTEM, AND PRE- WIRED CABLE THRU- OUT. SHOW AND SELL TODAY ! THANK YOU FOR SHOWING !!!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$350,910$428,890$389,900

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 -$1,354
Property Tax -$206
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$120

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.

$389,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.42%

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

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$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$16,569

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
  • $0.93

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6004$1,6205$1,650
$1,650
RENT COMPS ANALYSIS
  • 10451 Lilac Tree Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.93
    •  
  • 3262 Velvet Rose Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 10443 Lilac Tree Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
  • 3282 Dragoon Springs Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1999
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 3256 River Glorious Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,735 Sqft ∙ Built 2000
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
PROPERTY LISTING DETAILS
Michelle Marchini
1.702.596.6684
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280442
Last Updated: 03/22/2021
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