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11194 Corsica Mist Avenue Las Vegas, NV 89135

3 Beds 3 Baths 1,962 sqft Built 2011

$460,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $234.45
  • 3 Days on Market
  • MLS # : 2256096
  • Updated Date : 12/18/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,962 sqft
  • Baths : 2 full , 1 half
Listing Agent

Synergy Sothebys Int'l Realty

Listing Agent's Description

Located in the heart of Summerlin, Traccia, the guard-gated Toll Brothers community offers resort style living including a private clubhouse with a complete gym, pool & spa, and tennis courts. This three-bedroom home is nestled within the community and has a private backyard oasis. This home is ready for immediate move-in and is conveniently located near Downtown Summerlin where you can enjoy extensive dining and shopping options. In addition, you can take in a baseball game at the Las Vegas Aviator Ballpark or enjoy ice-skating at the Vegas Knight’s practice facility at City National Arena.

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: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,697
Property Tax -$329
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
$140

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.

$460,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$52,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,952

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8333$1,8504$2,1505$2,350
$2,350
RENT COMPS ANALYSIS
  • 11194 Corsica Mist Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.20
    •  
  • 2303 Aragon Canyon Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2005
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 2306 Malaga Peak Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,833
    • $0.98
    •  
  • 2316 Malaga Peak Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2006
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 11306 Corsica Mist Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2006
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Don C Kuhl
1.702.324.2121
Synergy Sothebys Int'l Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2256096
Last Updated: 12/18/2020
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