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10749 Fairfield Avenue Las Vegas, NV 89183

3 Beds 3 Baths 3,409 sqft Built 1999

$820,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $240.54
  • 9 Days on Market
  • MLS # : 2255373
  • Updated Date : 12/17/2020 at 08:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,409 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

This is what you've been waiting for! A beautiful single story 3400 square foot home on a sprawling resort-like lot with a friendly gated neighborhood that takes pride in their community. When entering through the front door, an amazing view of the expansive grounds and inground pool can be seen through extra large picture windows. The formal living room boasts a marble stacked stone accent wall along with a gas fireplace and stunning chandelier. The oversized primary bedroom and en-suite includes even more picture windows overlooking the mature landscaping. A gas fireplace and a door leading to the patio makes this the perfect retreat. With the three car garage, RV parking, and an additional oversized boat/storage unit, this welcoming property will not disappoint! Over $30,000 in recent renovations, inside and out! Close to the strip, Raiders Stadium, Raiders practice facility and access to I-15, while feeling like a secluded, peaceful oasis. Make your appointment !

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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 C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$738,000$902,000$820,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$3,025
Property Tax -$494
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$1,171

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.

$820,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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$2.5M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$223,050

INVESTMENT

$223,050

Down Payment
$205,000
Rehab Estimate
$5,750
Closing Costs
$12,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$3,025

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $205,000
Loan Amount $615,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,599

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,5504$2,5605$3,040
$3,040
RENT COMPS ANALYSIS
  • 10749 Fairfield Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 3,409 Sqft ∙ Built 1999 3 beds 3 baths ∙ 3,409 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.75
    •  
  • 309 Rhiannon Court Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,095 Sqft ∙ Built 2015 3 beds 3 baths ∙ 3,095 Sqft ∙ Built 2015
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.64
    •  
  • 10828 Rising Smoke Court #n/a Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,090 Sqft ∙ Built 2003
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.68
    •  
  • 593 Pale Pueblo Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,108 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.82
    •  
  • 387 Moon Aura Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,358 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,358 Sqft ∙ Built 2016
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,040
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lori Walker
1.215.850.9457
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255373
Last Updated: 12/17/2020
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