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10788 Maltese Falcon Avenue Las Vegas, NV 89129

3 Beds 3 Baths 1,939 sqft Built 2019

$398,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $205.26
  • 10 Days on Market
  • MLS # : 2250736
  • Updated Date : 12/04/2020 at 19:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,939 sqft
  • Baths : 2 full , 1 half
Listing Agent

John Griffith Realty

Listing Agent's Description

NEARLY NEW HOME! 2 years young, open living floor plan w/9ft ceilings, kitchen open to great room. Kitchen features island w/breakfast bar, granite counter tops , stainless steel appliances and large walk in pantry. Walk out through sliders to large covered and open patio area beautifully landscaped w/low maintenance greenery. Up the stairs you will find a Large Master suite w/2 walk in closets, walk out slider on to master balcony with wonderful views of Lone Mountain and North Valley lights. This home is situated in a small subdivision that features a brand new community swimming pool and is nestled, elevated directly west of Lone Mountain. The Hidden Hills community is primarily comprised of homes of greater value.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89129

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Zip Code: 89129

ZipNIR 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
Eileen Conners Elementary School Primary Regular 797 43 8
Justice M E Leavitt Middle School Middle Regular 1,496 64 NA
Centennial High School High Regular 3,055 124 6

Eileen Conners Elementary School

  • Education Level: Primary
  • # of students: 797
  • # of teachers: 43
8
GreatSchools Rating

Justice M E Leavitt Middle School

  • Education Level: Middle
  • # of students: 1,496
  • # of teachers: 64
NA
GreatSchools Rating

Centennial High School

  • Education Level: High
  • # of students: 3,055
  • # of teachers: 124
6
GreatSchools Rating
 

$358,200$437,800$398,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,468
Property Tax -$320
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$172

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$398,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 3.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,470

INVESTMENT

$107,470

Down Payment
$99,500
Rehab Estimate
$2,000
Closing Costs
$5,970

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,468

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,500
Loan Amount $298,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$15,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6003$1,6754$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 10788 Maltese Falcon Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 4723 Killington Street #0 Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,808 Sqft ∙ Built 2007
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 10709 Little Horse Creek Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,808 Sqft ∙ Built 2007
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 10516 Glowing Cove Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2002
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.84
    •  
  • 4463 Western Front Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,939 Sqft ∙ Built 2019
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Nicholas Dipuccio
1.702.521.5995
John Griffith Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250736
Last Updated: 12/04/2020
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