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10588 Parthenon Street Las Vegas, NV 89183

3 Beds 4 Baths 2,989 sqft Built 2017

$419,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $140.48
  • 5 Days on Market
  • MLS # : 2243554
  • Updated Date : 10/30/2020 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,989 sqft
  • Baths : 3 full , 1 half
Listing Agent

Anthem Realty Group Llc

Listing Agent's Description

WOW! HIGHLY UPGRADED HOME IN SILVERADO RANCH AREA!! FEATURES AN OPEN FLOOR PLAN, OPEN KITCHEN WITH HUGE ISLAND, GRANITE COUNTER TOPS, DUAL MASTER BEDROOMS UPSTAIRS, AND STAINLESS STEEL APPLIANCES!! LARGE LOT READY FOR LANDSCAPE. MASTER BEDROOM UPSTAIRS WITH HUGE WALK-IN SHOWER AND MUCH MORE!! THIS IS A MUST SEE!

SEE MORE

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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,549
Property Tax -$350
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
$317

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.

$419,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,549

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$67,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,727

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4203$2,5504$2,8955$2,895
$2,895
RENT COMPS ANALYSIS
  • 10588 Parthenon Street Las Vegas, NV 2
    • 3 beds 4 baths ∙ 2,989 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,989 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.81
    •  
  • 10707 Shasta Glow Court Henderson, NV 1
    • 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,730 Sqft ∙ Built 2007
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 593 Pale Pueblo Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
  • 10722 Parthenon Street Henderson, NV 4
    • 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,989 Sqft ∙ Built 2017
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.97
    •  
  • 10583 Parthenon Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2017
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.00
    •  
PROPERTY LISTING DETAILS
Naim Asmar
1.702.483.3257
Anthem Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243554
Last Updated: 10/30/2020
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