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10902 Florence Hills Street Las Vegas, NV 89141

4 Beds 3 Baths 2,040 sqft Built 2007

INVESTimate

$345,000

List Price

$1,650

$1,485 - $1,815

Rent Est.

$372,427  ( +7.95%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $169.12
  • 9 Days on Market
  • MLS # : 2222941
  • Updated Date : 08/25/2020 at 15:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,040 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Southern Highlands Stunner!! This fantastic home offers an open floor plan with exceptional function! Downstairs bedroom and full bathroom. Formal living room off foyer w/ recessed lighting, great living room w/ ceiling fan/light, and TV niche. Beautifully appointed kitchen w/ stainless steel appliances, granite countertops, custom backsplash, and upgraded cabinets. Upstairs offers generous master bedroom w/ ceiling fan/light, walk-in closet with mirror closet doors, separate tub/shower and double sinks. Spacious secondary bedrooms upstairs plus tech-space/loft. Home is located on a corner lot, relaxing backyard with synthetic grass, beautiful landscaping and concrete pad. Community offers walking trails, parks, shopping & dining. 10 minutes to the airport, 14 minutes to the strip and 11 minutes to Town Square for additional shopping and dining.

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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

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,485$1,815$1,650

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,273
Property Tax -$233
Property Insurance -$67
HOA -$27
Property Management Fees -$119
CASH FLOW
-$69

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.

$345,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.95%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$20,856

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6603$1,7954$1,8005$1,825
$1,825
RENT COMPS ANALYSIS
  • 10902 Florence Hills Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 3321 Umbria Gardens Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,027 Sqft ∙ Built 2007
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.82
    •  
  • 10885 Florence Hills Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 2007
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 10879 Florence Hills Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,027 Sqft ∙ Built 2007
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 3469 Ponza Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,235 Sqft ∙ Built 2002
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.82
    •  
PROPERTY LISTING DETAILS
Kristi Badolato
1.702.812.4046
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222941
Last Updated: 08/25/2020
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