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

10645 Lace Vine Arbor Avenue Las Vegas, NV 89144

4 Beds 3 Baths 1,691 sqft Built 1999

$375,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $221.76
  • 3 Days on Market
  • MLS # : 2246244
  • Updated Date : 11/06/2020 at 18:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,691 sqft
  • Baths : 2 full , 1 half
Listing Agent

Barrett & Co, Inc

Listing Agent's Description

This is the home. 4 bedroom 2.5 bathroom at the far end of the cul-de-sac nestled in the heart of Summerlin with very low HOA. Beautiful laminate flooring throughout. The kitchen has granite countertops with backsplash. Rooms are spacious. Family room and a formal living room. So much to see in the gem of a home!

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: 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
 

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

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,384
Property Tax -$224
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$147

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

$1,640

PROJECTED RENT

0.44%

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-$5.0k$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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$17,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,678

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6504$1,6505$1,800
$1,800
RENT COMPS ANALYSIS
  • 10645 Lace Vine Arbor Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,691 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,691 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 593 Bear Grass Street #n/a Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,627 Sqft ∙ Built 2000
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 10725 Esk Drive #n/a Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,720 Sqft ∙ Built 1999
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 568 Sierra Morena Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2001
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 10709 Glen Ellyn Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2000
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
PROPERTY LISTING DETAILS
Manal Cannon
1.619.852.7900
Barrett & Co, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246244
Last Updated: 11/06/2020
BESbswy