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11173 Salentino Avenue Las Vegas, NV 89138

3 Beds 2 Baths 1,723 sqft Built 2003

$390,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $226.35
  • 23 Days on Market
  • MLS # : 2256484
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,723 sqft
  • Baths : 1 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Very desirable "Vistas" Summerlin community across from Vistas Community Center that features community pool, tennis courts, basketball courts and park.. Downtown Summerlin Mall and Red Rock Canyon within 5 min drive. Single family home that that has been renovated, tile/porcelain wood-like floors and ceiling fans throughout. Open concept kitchen to family room, formal living room with added custom brick fireplace and formal dining. Upgraded birdcage stair rail, Wood-Shutters throughout. Master bedroom features fully renovated master bathroom w/Jacuzzi tub and separate custom tile shower and vanity, 3/4 bath upstairs fully renovated custom tile shower and vanity, 1/2 bath down, water-conditioner throughout and in laundry room, reverse osmosis, newer A/C unit, microwave, garbage disposal and garage motor. Backyard oasis feature mature landscaping, wood-planter boxes for growing vegetables. This is truly a must see...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
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
 

$351,000$429,000$390,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,355
Property Tax -$239
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$123

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.

$390,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,984

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
  • $0.96

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 11173 Salentino Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 608 Siciliano Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 2002
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 11221 Salentino Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2002
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.94
    •  
  • 11201 Sandrone Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2002
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 11209 Salentino Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,723 Sqft ∙ Built 2002
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
PROPERTY LISTING DETAILS
Lisa M Buzelli
1.702.622.8423
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256484
Last Updated: 01/08/2021
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