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10566 Abbotsbury Drive Las Vegas, NV 89135

4 Beds 3 Baths 2,865 sqft Built 2001

INVESTimate

$589,000

List Price

$2,660

$2,410 - $2,910

Rent Est.

$637,887  ( +8.30%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $205.58
  • 10 Days on Market
  • MLS # : 2222973
  • Updated Date : 08/22/2020 at 10:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,865 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Rare Find! Large Single Story with Private Pool and Spa in Gated Community Below $600,000 in Summerlin South. EXCELLENT condition. Ready for immediate move in! Plantation Shutters Throughout Entire Home, Light Fixtures/Fans in most rooms. Decorator Two Tone Paint. Make this low maintenance, Resort Style home, your retreat! Location! Location! Location! Many services, retail, and highway within .5 mile from neighborhood. This is what you've been waiting for!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k497k

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

Neighborhood: The Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762685

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Spring Valley High School High Regular 1,925 79 4

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
GreatSchools Rating

Victoria Fertitta Middle School

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

Spring Valley High School

  • Education Level: High
  • # of students: 1,925
  • # of teachers: 79
4
GreatSchools Rating
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,173
Property Tax -$375
Property Insurance -$83
HOA -$69
Property Management Fees -$119
CASH FLOW
-$159

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.

$589,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.30%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$31,396

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,750

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6003$2,6604$2,7955$2,800
$2,800
RENT COMPS ANALYSIS
  • 10566 Abbotsbury Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.93
    •  
  • 10396 Walking View Court Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,765 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,765 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
  • 3155 Heidelberg Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,838 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,838 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
  • 10468 Garden Light Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 2,678 Sqft ∙ Built 2002 3 beds 4 baths ∙ 2,678 Sqft ∙ Built 2002
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.04
    •  
  • 10505 Abbotsbury Drive #na Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2001
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Walter Knoblock
1.702.683.1894
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222973
Last Updated: 08/22/2020
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