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1076 Warm Canyon Way Las Vegas, NV 89123

5 Beds 2 Baths 2,390 sqft Built 1996

$379,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $158.58
  • 3 Days on Market
  • MLS # : 2246319
  • Updated Date : 11/07/2020 at 07:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,390 sqft
  • Baths : 2 full
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

Stunning 2 story home, move in ready. Stainless appliances, Granite counter tops, Kitchen Island with cabinets, Colorful tile and marble floors flooring through out. Large second bedroom. This home has it all! Conveniently located to freeways, and just minuets away McCarran International airport, Allegiant Stadium, T-Mobile Arena, strip, UNLV and close to tons of shopping. Oversized 2 car garage with storage cabinets. Low HOA Fees. A must see home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

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 R. Beatty Elementary School Primary Regular 601 29 8
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

John R. Beatty Elementary School

  • Education Level: Primary
  • # of students: 601
  • # of teachers: 29
8
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,398
Property Tax -$214
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
$105

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.

$379,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$41,673

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8993$1,9104$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1076 Warm Canyon Way Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,390 Sqft ∙ Built 1996 5 beds 2 baths ∙ 2,390 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.80
    •  
  • 1040 Warm Canyon Way Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,390 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,390 Sqft ∙ Built 1996
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.71
    •  
  • 1700 Deep Spring Avenue Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,426 Sqft ∙ Built 1997
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.78
    •  
  • 1066 Little Rock Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1997 5 beds 3 baths ∙ 2,390 Sqft ∙ Built 1997
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 1006 Coldwater Falls Way Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,485 Sqft ∙ Built 1999
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
PROPERTY LISTING DETAILS
Vince E Hackett
1.702.910.1786
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246319
Last Updated: 11/07/2020
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