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PROPERTY INFO
FACTS
- Single Family
- Built In 2018
- Price/Sqft : $377.31
- 5 Days on Market
- MLS # : 2272635
- Updated Date : 02/26/2021 at 18:37
CONSTRUCTION
- Beds : 5
- Floor Size : 3,949 sqft
- Baths : 3 full , 1 half
Listing Agent
Heidel Realty
Listing Agent's Description
AWARD-WINNING COMMUNITY OF REVERENCE IN SUMMERLIN! This popular Kingsgate single story home sits on a corner lot in the guard-gated neighborhood. Sellers spared no expense in upgrading the home! Water resistant wood-like flooring throughout, plantation shutters, wet bar, gorgeous stone accent wall with modern gas fireplace, retractable door in the great room. Huge executive kitchen boasts a farm house sink, stainless steel appliances, and big island with breakfast bar. The large backyard features a sparkling pool and relaxing spa, fire pit, paver patio, mountain views, and more! Incredible master bedroom suite has a separate sitting room. The master bath features a free-standing soak-in tub, double sinks, vanity, and walk-in shower. Come see this amazing property today!
SEE MORE
- 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
Zip Code: 89138
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 89138
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $4,810 |
| EXPENSES | Loan Payment | -$5,175 |
| Property Tax | -$1,044 | |
| Property Insurance | -$104 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$1,632
|
||
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.
$1,490,000
PROJECTED PRICE
$4,810
PROJECTED RENT
0.32%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$400,600
LOAN DETAILS
$5,175
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $372,500 |
| Loan Amount | $1,117,500 |
0.67
YEARS SAVED
$3,616
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$4,810
LIST RENT -
$1.22
LIST RENT PER SQFT
-
$2,893
COMP ESTIMATED VALUE -
$0.73
COMP AVG. RENT PER SQFT
Comps Range
-
11181 Luna Blanca Drive Las Vegas, NV 5
- 5 beds 4 baths ∙ 3,949 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,949 Sqft ∙ Built 2018
- Rent
- Rent Per SQFT
- $4,810
- $1.22
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3316 Lacebark Pine Street #none Las Vegas, NV 1
- 4 beds 4 baths ∙ 3,683 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,683 Sqft ∙ Built 2001
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- Rent Per SQFT
- $2,600
- $0.71
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10385 Pilot Mountain Court Las Vegas, NV 2
- 5 beds 3 baths ∙ 4,036 Sqft ∙ Built 2003 5 beds 3 baths ∙ 4,036 Sqft ∙ Built 2003
LEASED 02/16/21- Rent
- Rent Per SQFT
- $2,800
- $0.69
-
3217 Bishop Pine Street Las Vegas, NV 3
- 6 beds 3 baths ∙ 3,895 Sqft ∙ Built 2001 6 beds 3 baths ∙ 3,895 Sqft ∙ Built 2001
LEASED 09/24/19- Rent
- Rent Per SQFT
- $2,850
- $0.73
-
10432 Holloway Heights Avenue Las Vegas, NV 4
- 4 beds 2 baths ∙ 3,610 Sqft ∙ Built 2003 4 beds 2 baths ∙ 3,610 Sqft ∙ Built 2003
LEASED 08/01/20- Rent
- Rent Per SQFT
- $2,900
- $0.80
PROPERTY LISTING DETAILS
1.702.820.2200
Heidel Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2272635
Last Updated: 02/26/2021
