Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10595 Salmon Leap Street Las Vegas, NV 89183

4 Beds 3 Baths 2,218 sqft Built 2006

$375,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $169.07
  • 4 Days on Market
  • MLS # : 2269538
  • Updated Date : 02/13/2021 at 22:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,218 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

A SURE-FIRE BESTSELLER! TERRIFIC CURB APPEAL WITH COVERED FRONT PORCH! 4 TRUE BEDROOMS CHARMING ACCENTS & WONDERFULLY CLEVER GREAT ROOM FLOORPLAN, ALL NEUTRAL COLORS, GRANITE KITCHEN, STAINLESS STEEL REFRIGERATOR, EXTRA UPPER & LOWER BUFFET STYLE CABINETRY. MASTER IS SUPER SIZED WITH WALKIN CLOSET, SEPARATE TUB AND SHOWER, CENTRAL VAC SYSTEM, WASHER DRYER INCLUDED, EXTRA LARGE COVERED PATIO, BARELY LIVED IN - VACATION HOME! EASY CARE DESERT LANDSCAPE, A CUL DE SAC STREET!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

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
 

$337,500$412,500$375,000

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 -$1,303
Property Tax -$258
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$99

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.

$375,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,912

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
  • $0.74

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$1,7505$2,000
$2,000
RENT COMPS ANALYSIS
  • 10595 Salmon Leap Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.74
    •  
  • 915 Serpent Rose Court #0 Henderson, NV 1
    • 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,019 Sqft ∙ Built 2005
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 10738 Sheridan Dawn Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2005
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 947 Serpent Rose Court #0 Henderson, NV 4
    • 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,056 Sqft ∙ Built 2005
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 10756 Shasta Glow Court Henderson, NV 5
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 2008
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ellen Fahr
1.702.595.4881
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269538
Last Updated: 02/13/2021
BESbswy