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10733 Sprucedale Avenue Las Vegas, NV 89144

5 Beds 4 Baths 3,320 sqft Built 2001

$679,900

List Price

$3,050

$2.8K - $3.3K

Rent Est.

$185,924

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $204.79
  • 2 Days on Market
  • MLS # : 2313926
  • Updated Date : 07/13/2021 at 19:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,320 sqft
  • Baths : 3 full , 1 half
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

WOW! WHY WAIT 6-10 MONTHS FOR A NEW BUILD! COME CHECK OUT THIS GORGEOUS, RARE DOUBLE MASTER BEDROOM HOME IN SUMMERLIN NORTH IN THE 89144 ZIP CODE! Enjoy all that SUMMERLIN offers TODAY! This Spacious 2 story, 5 bed, 3.5 bath, (MASTER BEDROOM ON UPPER & LOWER LEVEL), OASIS ENTERTAINING POOL & SPA, w/ massive 3 car garage, home is nestled at the continued sought-after SUMMERLIN NORTH just EAST off WEST CHARLESTON. TOO MANY UPGRADES IN THIS GEM TO OUTLINE IN THIS SECTION! A MUST SEE & WILL NOT DISAPPOINT! Easy access to Freeway, Shopping (SUMMERLIN MALL), Downtown Summerlin, Las Vegas Ballpark, City National Arena [practice facility and team headquarters of the Vegas Golden Knights of the National Hockey League], Golf & Historical Recreational parks! THIS HOME WILL NOT LAST LONG! BOOK YOUR SHOWING TODAY!

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MARKET HIGHLIGHTS

Las Vegas Market Report
  • 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
 

FINANCIALS

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$611,910$747,890$679,900

PURCHASE PRICE

$2,745$3,355$3,050

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,050
EXPENSES Loan Payment -$2,362
Property Tax -$421
Property Insurance -$91
Property Management Fees -$119
CASH FLOW
$57

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.

$679,900

PROJECTED PRICE

$3,050

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$185,924

INVESTMENT

$185,924

Down Payment		 $169,975
Rehab Estimate		 $5,750
Closing Costs		 $10,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,362

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $169,975
Loan Amount $509,925
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$50,447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,050

    LIST RENT

  • $0.92

    LIST RENT PER SQFT

  • $3,005

    COMP ESTIMATED VALUE

  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7993$3,0004$3,0505$3,200
$3,200
RENT COMPS ANALYSIS
  • 10733 Sprucedale Avenue Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.92
    •  
  • 11021 Mount Royal Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,320 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,320 Sqft ∙ Built 2000
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.81
    •  
  • 721 White Falcon Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,151 Sqft ∙ Built 2001
    LEASED 06/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,799
    • $0.89
    •  
  • 11500 Valentino Lane Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,121 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,121 Sqft ∙ Built 2005
    LEASED 05/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.96
    •  
  • 604 Napatree Street Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,320 Sqft ∙ Built 2001
    LEASED 05/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Joseph Tinnel
1.702.498.2696
Platinum R.e. Professionals
BUYER AGENT
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
SOURCE
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2313926
Last Updated: 07/13/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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