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10798 Muscari Way Las Vegas, NV 89141

2 Beds 3 Baths 1,609 sqft Built 2001

$299,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $186.39
  • 3 Days on Market
  • MLS # : 2245964
  • Updated Date : 11/07/2020 at 02:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,609 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Southern Highlands Beauty Under 300K!!! Must see two story home with Dual master bedrooms, 2.5 baths and 2 car garage, pool sized lot! Split level floor plan. Upstairs living room with fireplace, kitchen with breakfast bar and dining area, Sliding door opens to large balcony overlooking the huge backyard. Large master bedroom with walk in closet. Master bath with dual sinks and shower/tub separate. Downstairs has second bedroom with full bath, den/game room exits out to covered patio. Stainless steel appliances included. Partial Shutters. Tile throughout except for the bedrooms with carpet. Within a mile to the smith shopping center. Walking trails to the near by parks with playground and splash pad.

SEE MORE

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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

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
Dennis Ortwein Elementary School Primary Unknown NA
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Dennis Ortwein Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$1,107
Property Tax -$196
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$80

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.

$299,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,735

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,444

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3953$1,4004$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 10798 Muscari Way Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,609 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,609 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 3370 Villa Fiori Avenue Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,345 Sqft ∙ Built 2005
    property image
    LEASED 05/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 10728 Moroccan Court Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,609 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,609 Sqft ∙ Built 2001
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 10790 Muscari Way Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,609 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,609 Sqft ∙ Built 2001
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 11318 Mckinney Falls Street #105 Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,676 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,676 Sqft ∙ Built 2008
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Chun H Chu
1.702.673.8850
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2245964
Last Updated: 11/07/2020
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