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10525 Villa Modena Street Las Vegas, NV 89141

6 Beds 5 Baths 4,364 sqft Built 2004

$895,000

List Price

$3,650

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $205.09
  • 4 Days on Market
  • MLS # : 2259601
  • Updated Date : 01/08/2021 at 19:28
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,364 sqft
  • Baths : 4 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Huge .35 acre*4,876 sq.ft. including 512 sq. ft. detached casita*NO SID*3 car garage*6 bdrms*5 1/2 baths*Loft*Formal living room*Den/Office*Backyard Oasis w/Sparkling Pool & Spa w/remote controlled Water Features*Guard Gated & Community Park*Amazing mature landscaping*Courtyard entry w/fireplaces*Soaring 21' ceilings in living room w/grand birdcage staircase*10' ceilings down & 8' doors plus shutters*Gourmet Kitchen w/ built-in refrigerator, 42"custom cabinets, granite, island, walk-in Pantry, dbl ovens, 5 burner gas cooktop, breakfast nook & breakfast bar, Primary Suite features 2 walk-in closets, 13' ceilings, balcony, ceiling fan*Primary spa bath features dbl sinks, jetted tub and walk-in shower*Seller Welcomes Showings!

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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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

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
Charles And Phyllis Frias Elementary School Primary Regular 802 41 10
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Charles And Phyllis Frias Elementary School

  • Education Level: Primary
  • # of students: 802
  • # of teachers: 41
10
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$805,500$984,500$895,000

PURCHASE PRICE

$3,285$4,015$3,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,650
EXPENSES Loan Payment -$3,109
Property Tax -$576
Property Insurance -$112
Property Management Fees -$119
CASH FLOW
-$266

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.

$895,000

PROJECTED PRICE

$3,650

PROJECTED RENT

0.41%

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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$242,925

INVESTMENT

$242,925

Down Payment
$223,750
Rehab Estimate
$5,750
Closing Costs
$13,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,109

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $223,750
Loan Amount $671,250
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$36,580

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,650

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,633

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$3,295
1$3,2952$3,4993$3,5004$3,6505$3,995
$3,995
RENT COMPS ANALYSIS
  • 10525 Villa Modena Street Las Vegas, NV 4
    • 6 beds 5 baths ∙ 4,364 Sqft ∙ Built 2004 6 beds 5 baths ∙ 4,364 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,650
    • $0.84
    •  
  • 5728 Collier Falls Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 4,027 Sqft ∙ Built 2015 5 beds 3 baths ∙ 4,027 Sqft ∙ Built 2015
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,295
    • $0.82
    •  
  • 10628 Porta Romana Court #n/a Las Vegas, NV 2
    • 6 beds 5 baths ∙ 4,364 Sqft ∙ Built 2003 6 beds 5 baths ∙ 4,364 Sqft ∙ Built 2003
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,499
    • $0.80
    •  
  • 5209 Villa Dante Avenue Las Vegas, NV 3
    • 5 beds 5 baths ∙ 4,364 Sqft ∙ Built 2004 5 beds 5 baths ∙ 4,364 Sqft ∙ Built 2004
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.80
    •  
  • 5148 Villa Vecchio Court Las Vegas, NV 5
    • 6 beds 5 baths ∙ 4,387 Sqft ∙ Built 2004 6 beds 5 baths ∙ 4,387 Sqft ∙ Built 2004
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $0.91
    •  
PROPERTY LISTING DETAILS
Gregory A King
1.702.518.2918
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259601
Last Updated: 01/08/2021
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