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10636 Lace Vine Arbor Avenue Las Vegas, NV 89144

3 Beds 2 Baths 1,309 sqft Built 1999

$337,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $258.14
  • 2 Days on Market
  • MLS # : 2260595
  • Updated Date : 01/10/2021 at 04:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,309 sqft
  • Baths : 2 full
Listing Agent

Gk Properties

Listing Agent's Description

Gorgeous home located in highly sought after Summerlin North. 3 bedrooms and 2 full baths. Kitchen is clean, open and bright. Upgraded sink and all white appliances. Primary bedroom has 2 closets. One walk in and one mirrored. Primary bath has tub/shower combo. Family room has built in shelves and gas fireplace. Backyard has towering trees that provide shade, grass, and covered patio. Make this Summerlin gem yours today!

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: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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 W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$304,110$371,690$337,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,174
Property Tax -$204
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
-$29

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.

$337,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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

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$95,294

INVESTMENT

$95,294

Down Payment
$84,475
Rehab Estimate
$5,750
Closing Costs
$5,069

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,174

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,475
Loan Amount $253,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$20,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,5003$1,5204$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 10636 Lace Vine Arbor Avenue Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.16
    •  
  • 341 Sweet Pea Arbor Street #- Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,134 Sqft ∙ Built 2000
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.23
    •  
  • 313 Jacaranda Arbor Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2001
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
  • 10700 Coral Vine Arbor Avenue Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,442 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,442 Sqft ∙ Built 1999
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 10701 Coral Vine Arbor Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,442 Sqft ∙ Built 1999
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.21
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260595
Last Updated: 01/10/2021
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