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10551 Longoria Garden Street Las Vegas, NV 89141

3 Beds 4 Baths 1,976 sqft Built 2007

$324,999

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $164.47
  • 4 Days on Market
  • MLS # : 2261484
  • Updated Date : 01/14/2021 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,976 sqft
  • Baths : 3 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WOW!!! This Incredibly well kept Southwest Corner Lot Home with a Great Layout has 3 Beds, 3.5 Bath & Downstairs Loft Area that Opens to the yard. Open Kitchen w/ Island, Breakfast Bar, Stainless Steel Appliances, Eating Area & Patio. Large Master Bed w/ Walk-In Closet and Master Bath w/ Tub, Dual Sinks and Great Light. Large Storage areas Throughout the House. All Beds Upstairs. Huge 80 gal Water Heater. ***TYPE IN ADDRESS ON ZILLOW FOR VIRTUAL TOUR***

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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
 

$292,499$357,499$324,999

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,129
Property Tax -$227
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$110

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.

$324,999

PROJECTED PRICE

$1,650

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,749
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$31,664

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,5954$1,6505$1,740
$1,740
RENT COMPS ANALYSIS
  • 10551 Longoria Garden Street Las Vegas, NV 4
    • 3 beds 4 baths ∙ 1,976 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,976 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 6413 Foxen Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2010
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 10557 Longoria Garden Street #- Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,813 Sqft ∙ Built 2007
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 10591 Mann Street Las Vegas, NV 3
    • 3 beds 4 baths ∙ 1,976 Sqft ∙ Built 2007 3 beds 4 baths ∙ 1,976 Sqft ∙ Built 2007
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 10453 Mann Street #0 Las Vegas, NV 5
    • 4 beds 4 baths ∙ 1,976 Sqft ∙ Built 2010 4 beds 4 baths ∙ 1,976 Sqft ∙ Built 2010
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.88
    •  
PROPERTY LISTING DETAILS
Tal Iozef
1.702.553.5589
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261484
Last Updated: 01/14/2021
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