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10705 Balsam Creek Avenue Las Vegas, NV 89144

5 Beds 2 Baths 3,002 sqft Built 1999

$610,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $203.20
  • 4 Days on Market
  • MLS # : 2274555
  • Updated Date : 03/05/2021 at 20:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,002 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

**GORGEOUS HOME LOCATED IN THE HEART OF SUMMERLIN** This home is perfect for entertaining and family fun!! Freshly painted, this home features 5 huge bedrooms (1 down stairs), 3 bathrooms, large loft, hardwood floors, and 3 car garage. Kitchen is spacious and offers granite countertops, lots of cabinets, walk-in pantry and large island. Family room has fireplace for those winter nights. Laundry room plumbed for sink. Large backyard features a sparkling pool and spa, covered patio, outdoor kitchen, and low maintenance landscaping. Experience living in one of the best neighborhoods in Las Vegas, walking distance to the best schools, parks and community centers. Close to shopping, entertainment, dining and freeway access. This house won't last!

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
 

$549,000$671,000$610,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,119
Property Tax -$387
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$100

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.

$610,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.43%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,119

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$31,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,844

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,6104$2,9005$2,950
$2,950
RENT COMPS ANALYSIS
  • 10705 Balsam Creek Avenue Las Vegas, NV 3
    • 5 beds 2 baths ∙ 3,002 Sqft ∙ Built 1999 5 beds 2 baths ∙ 3,002 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.87
    •  
  • 10708 Balsam Creek Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 3,002 Sqft ∙ Built 1999 4 beds 2 baths ∙ 3,002 Sqft ∙ Built 1999
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 516 Joe Willis Street Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 1999
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
  • 1021 Hickory Park Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,840 Sqft ∙ Built 2007
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.02
    •  
  • 421 Emerald Heights Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 2000
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.04
    •  
PROPERTY LISTING DETAILS
Eida M Fujii
1.702.480.9621
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2274555
Last Updated: 03/05/2021
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