Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10912 Mission Lakes Avenue Las Vegas, NV 89134

3 Beds 3 Baths 1,982 sqft Built 1998

INVESTimate

$539,000

List Price

$1,910

$1,719 - $2,101

Rent Est.

$587,780  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $271.95
  • 11 Days on Market
  • MLS # : 2222470
  • Updated Date : 08/23/2020 at 12:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,982 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cornel Realty Llc

Listing Agent's Description

UNIQUE! Completely remodeled Sherwood plan w/ additional 200 sq ft. Plantation shutters throughout. Hand-Hammered Copper Stove Hood w/ pot filler adorns custom LaCanche stove imported from France. Custom cherry cabinets w/ pull-outs and maximum storage. B-fast nook w/ city views and brick/wood accents. Floor-to-ceiling custom bookshelves w/ NYC imported Putnam rolling ladder in great room. Recessed lighting showcases over a mile of custom woodwork including 4-piece, 10-in crown molding & wainscoting. Large steam shower in Master w/ huge walk-in closet. Bamboo flooring w/ stunning granite entryway. 3rd B.R. w/ built-ins can be used as office/craft room if desired. Breezeway w/ additional built-ins and office capabilities. 2-car garage w/ large sink, overhead storage and built-ins throughout. Interior laundry closet w/ full size front load W/D and storage. Rollanden shutter, double french door and see-thru fireplace frame large flagstone patio, putting green and hot tub.

SEE MORE

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
 

$485,100$592,900$539,000

PURCHASE PRICE

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

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-$10k-$5.0k$0.0$5.0k$10k

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$1.8M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,989
Property Tax -$282
Property Insurance -$66
HOA -$137
Property Management Fees -$119
CASH FLOW
-$682

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.

$539,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$148,585

INVESTMENT

$148,585

Down Payment
$134,750
Rehab Estimate
$5,750
Closing Costs
$8,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $134,750
Loan Amount $404,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$837

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
  • $0.96

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6803$1,7504$1,9105$1,995
$1,995
RENT COMPS ANALYSIS
  • 10912 Mission Lakes Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.96
    •  
  • 11109 Whooping Crane Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,067 Sqft ∙ Built 2000
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 1605 Cider Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 2000
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.81
    •  
  • 1616 Blooming Rose Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1999
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 11140 Summer Squash Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1999
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
PROPERTY LISTING DETAILS
Carlena Gower
1.702.802.9837
Cornel Realty Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222470
Last Updated: 08/23/2020
BESbswy