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10576 Snow Lake Street Las Vegas, NV 89179

4 Beds 3 Baths 2,226 sqft Built 2012

$370,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $166.22
  • 4 Days on Market
  • MLS # : 2258589
  • Updated Date : 01/03/2021 at 03:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,226 sqft
  • Baths : 3 full
Listing Agent

Prestige Properties

Listing Agent's Description

Pardee living smart home. This Mountains Edge beauty features 3 bedrooms, 2 baths, a loft and separate laundry room upstairs. 1 bedroom and a full bathroom downstairs. Spacious kitchen with expresso cabinets, granite counter tops, and breakfast bar seating. Fully fenced backyard to create your own oasis. There is plenty of room for the whole family to enjoy. All appliances are included.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Mountain Edge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10391875

* 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
Carolyn Reedom Elementary School Primary Regular 1,097 58 6
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Carolyn Reedom Elementary School

  • Education Level: Primary
  • # of students: 1,097
  • # of teachers: 58
6
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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,365
Property Tax -$272
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$33

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.

$370,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$1.4M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$32,941

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8604$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 10576 Snow Lake Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.84
    •  
  • 10457 Pretzel Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,077 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,077 Sqft ∙ Built 2015
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 10591 Peach Creek Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 2007
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.78
    •  
  • 7288 Tin Mine Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2013
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 10597 Upper Laurel Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2013
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Ivory Harp
1.702.581.2609
Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258589
Last Updated: 01/03/2021
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