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10725 Back Plains Drive Las Vegas, NV 89134

3 Beds 2 Baths 2,192 sqft Built 1995

$569,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $259.58
  • 5 Days on Market
  • MLS # : 2263716
  • Updated Date : 01/24/2021 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,192 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

GORGEOUS VIEWS BY APPOINTMENT ONLY! This stunning Belmont model has unobstructed views of downtown and North Las Vegas. The home has 2,192 sf of living space, 3 bedrooms, 2 baths, and an attached 2+ car garage offering plenty of room for golf cart storage and space for the do it yourselfer. Coffered ceilings, custom window coverings, laminated wood in each bedroom, and ceramic tile elsewhere throughout. The kitchen has corian countertops with seamless sink and stainless steel appliances, all in like-new condition. Designer ceiling fans in breakfast nook and dining area. Newer furnace is less than 4 years old; newer a/c unit is less than 2 years old. Some furniture available for sale separately. The Sun City Summerlin community offers 3 golf courses and 4 community centers each with clubhouses, libraries, indoor & outdoor pools, and fitness centers. Tennis, racquetball, pickleball, bocce ball, mini golf, and horseshoes are all available as well. Over 80 clubs are waiting for you!

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
 

$512,100$625,900$569,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,976
Property Tax -$324
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$169

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.

$569,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

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

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$156,535

INVESTMENT

$156,535

Down Payment
$142,250
Rehab Estimate
$5,750
Closing Costs
$8,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,976

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $142,250
Loan Amount $426,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$23,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,3004$2,3005$2,320
$2,320
RENT COMPS ANALYSIS
  • 10725 Back Plains Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.06
    •  
  • 2832 Faiss Drive #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,210 Sqft ∙ Built 1995
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 2404 Sunrise Meadows Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 2524 Settlers Bay Lane #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,192 Sqft ∙ Built 1995
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
  • 10128 Cypress Glen Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
PROPERTY LISTING DETAILS
David M Stolle
1.702.979.8283
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263716
Last Updated: 01/24/2021
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