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10497 Foggy Glen Avenue Las Vegas, NV 89135

3 Beds 3 Baths 1,951 sqft Built 2003

$390,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $199.90
  • 4 Days on Market
  • MLS # : 2247973
  • Updated Date : 11/13/2020 at 07:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,951 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas One Realty

Listing Agent's Description

Perfection in Downtown Summerlin - in a very well sought after neighborhood! Gorgeous home AND move-in ready. Home features soaring ceilings with an expansive open lower level floor plan and private dining room or convert to a den/office. Bright open kitchen/great room boasts granite prep island, gas stove, fireplace, tile flooring, wood-blinds and opens to the great outdoors...its a complete decorators delight! Expansive master upstairs with private balcony, garden tub, separate shower, dual sinks. Low maintenance yard with desert landscaping. Gorgeous flagstone exterior trim and front porch for relaxing in this lovely neighborhood. Walk to the park, Downtown Summerlin, Red Rock Casino/Resort, Aviators Stadium or just chill in this lovely home.

SEE MORE

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: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
Sig Rogich Middle School Middle Regular 1,845 70 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

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,439
Property Tax -$244
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$117

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.

$390,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,439

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$20,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,7954$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 10497 Foggy Glen Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 2353 Carnegie Hall Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,951 Sqft ∙ Built 2003
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.92
    •  
  • 2416 Radio City Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2004
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 2435 Carnegie Hall Street #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.89
    •  
  • 10515 Foggy Glen Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,062 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
PROPERTY LISTING DETAILS
Shari Davidson
1.702.204.5532
Vegas One Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247973
Last Updated: 11/13/2020
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