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10456 Lyric Arbor Drive Las Vegas, NV 89135

4 Beds 3 Baths 2,365 sqft Built 2007

INVESTimate

$449,900

List Price

$1,890

$1,701 - $2,079

Rent Est.

$484,677  ( +7.73%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $190.23
  • 7 Days on Market
  • MLS # : 2223439
  • Updated Date : 08/21/2020 at 17:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,365 sqft
  • Baths : 2 full , 1 half
Listing Agent

Award Realty

Listing Agent's Description

ATTRACTIVE PROPERTY IN LADERA/MESA COMMUNITY, FEATURES APPROX 2365/SF, 4 BED, 3 BATH, GREAT RM, LIVING/DINING RMS, KITCHEN W/ DK MAPLE CABINETRY, GRANITE, STAINLESS STEEL, STONE BACKSPLASH, BREAKFAST BAR, NOOK AREA, OPEN FAMILY RM/LOFT UPSTAIRS, TILE, CARPET, SHUTTERS, FANS W/ LIGHTS, ALARM, BALCONY, CURB APPEAL, CULTURED STONE, LG REAR YARD, SOD, FULLY FENCED REAR, 2 CAR GARAGE, PLUS MUCH MORE!

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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: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k472k

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

Neighborhood: The Mesa

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10762305

* 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
Kathy L. Batterman Elementary School Primary Regular 910 47 9
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Durango High School High Regular 2,302 95 5

Kathy L. Batterman Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 47
9
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Durango High School

  • Education Level: High
  • # of students: 2,302
  • # of teachers: 95
5
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,660
Property Tax -$294
Property Insurance -$73
HOA -$26
Property Management Fees -$119
CASH FLOW
-$282

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.

$449,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.73%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$11,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,886

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8504$1,8905$2,030
$2,030
RENT COMPS ANALYSIS
  • 10456 Lyric Arbor Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.80
    •  
  • 10418 Bay Ginger Lane #n/a Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2009
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.76
    •  
  • 5358 Hollymead Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2011
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 5310 Fairbranch Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 2006
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 10426 Timber Star Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 2013
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.88
    •  
PROPERTY LISTING DETAILS
Karen Bye
1.702.429.9190
Award Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223439
Last Updated: 08/21/2020
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