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10900 Summer Quail Avenue Las Vegas, NV 89144

5 Beds 4 Baths 3,261 sqft Built 2000

INVESTimate

$619,000

List Price

$3,070

$2,820 - $3,320

Rent Est.

$643,884  ( +4.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $189.82
  • 7 Days on Market
  • MLS # : 2223635
  • Updated Date : 08/25/2020 at 11:21
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,261 sqft
  • Baths : 3 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

This amazing Summerlin home checks all the boxes! Gated community, beautiful corner lot surrounded by lush landscaping. Lg private gated courtyard features paver patio, outdoor living area. The attention to detail is apparent throughout this home to include updated lighting, cased archways, custom paint, designer carpet t/o, engineered hardwood floors, crown molding & lg baseboards T/O. Wainscot in dining rm. Remodeled kitchen includes stainless professional appliances, lg granite island & pantry. Custom hearth & mantle, built-in shelves in family room, drop zone/cabinets. Bed & full bath on main level, office. Spacious master up w/double doors w/fireplace & balcony. Remodeled master bath, 3 add'l bdrms, one is a lg bonus/bedroom. Salt water pool/spa, covered patio, lg outdoor custom sauna, lush landscaping, lots of privacy, adjacent to tennis courts, 100's of miles of walking trails, close proximity to hospital, fire, police, Downtown Summerlin's resturants/shopping & schools K-12.

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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: Quail Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $119k636k

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

Neighborhood: Quail Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10762686

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
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
 

$557,100$680,900$619,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$2,284
Property Tax -$434
Property Insurance -$90
HOA -$138
Property Management Fees -$119
CASH FLOW
$5

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.

$619,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 4.02%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$169,785

INVESTMENT

$169,785

Down Payment
$154,750
Rehab Estimate
$5,750
Closing Costs
$9,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $154,750
Loan Amount $464,250
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$48,110

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $3,334

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$3,0703$3,1254$3,5005$4,000
$4,000
RENT COMPS ANALYSIS
  • 10900 Summer Quail Avenue Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,261 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,261 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.94
    •  
  • 11397 Orazio Drive Las Vegas, NV 1
    • 6 beds 4 baths ∙ 3,150 Sqft ∙ Built 2004 6 beds 4 baths ∙ 3,150 Sqft ∙ Built 2004
    property image
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.94
    •  
  • 376 Santa Candida Street Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,332 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,332 Sqft ∙ Built 2003
    property image
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,125
    • $0.94
    •  
  • 225 Buteo Woods Lane #0 Las Vegas, NV 4
    • 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999 5 beds 5 baths ∙ 3,570 Sqft ∙ Built 1999
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
  • 1025 Sable Mist Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,252 Sqft ∙ Built 2000
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.23
    •  
PROPERTY LISTING DETAILS
Doug W Thompson
1.702.378.8231
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223635
Last Updated: 08/25/2020
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