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10701 Blackburn Court Las Vegas, NV 89134

2 Beds 2 Baths 1,703 sqft Built 1995

$509,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $299.41
  • 10 Days on Market
  • MLS # : 2262180
  • Updated Date : 01/22/2021 at 19:08
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,703 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

SUN CITY SUMMERLIN NOT TO BE MISSED--ABSOLUTE STUNNER--Home has been reimagined from top to bottom: 2 bedroom/2 full baths/flex-office space/24x48 porcelain tile throughout/Chefs kitchen features large waterfall granite island/New custom cabinets/SS Bosch Appliances/Magnificent primary suite is generously sized with custom walk in shower/walk in closet/new custom vanities/Guest bath has new custom vanity and tile tub/shower combo--Live the retirement lifestyle you have earned relaxing on your covered patio enjoying the mountain views to the West - Or - if you prefer sip an evening beverage while enjoying the city lights to the North under the stars on your secondary backyard patio:

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

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

$458,910$560,890$509,900

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 -$1,771
Property Tax -$249
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$340

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.

$509,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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

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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$140,874

INVESTMENT

$140,874

Down Payment
$127,475
Rehab Estimate
$5,750
Closing Costs
$7,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,475
Loan Amount $382,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,271

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
  • $1.09

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,8504$1,8605$2,000
$2,000
RENT COMPS ANALYSIS
  • 10701 Blackburn Court Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,703 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,703 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $1.09
    •  
  • 2828 Faiss Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,533 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,533 Sqft ∙ Built 1995
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 2704 Vista Butte Drive #0 Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,599 Sqft ∙ Built 1993 2 beds 1 baths ∙ 1,599 Sqft ∙ Built 1993
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.09
    •  
  • 10604 Back Plains Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,699 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,699 Sqft ∙ Built 1998
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 10713 Alton Downs Drive Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,843 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,843 Sqft ∙ Built 1995
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
Patricia Giusti
1.702.917.1280
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262180
Last Updated: 01/22/2021
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