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11218 Corsica Mist Avenue Las Vegas, NV 89135

3 Beds 3 Baths 1,962 sqft Built 2012

$499,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $254.79
  • 2 Days on Market
  • MLS # : 2249884
  • Updated Date : 11/21/2020 at 18:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,962 sqft
  • Baths : 2 full , 1 half
Listing Agent

Xpand Realty & Property Manage

Listing Agent's Description

Prime Summerlin Location, situated in Traccia’s guard gated community. Gorgeous home with plenty of upgrades!! Living room has surround sound speakers, granite counter tops in the kitchen and upgraded appliances (dishwasher, microwave, range), water softener & reverse osmosis, master bath has spacious custom walk-in closet plus expanded and upgraded shower! Backyard has been landscaped and has six-person spa with patio cover! Garage with epoxy floor, overhead racks and plenty more to love!!! Conveniently located near Downtown Summerlin, enjoy world class dining and shopping. Take in a baseball game at the Las Vegas Aviator Ballpark. Enjoy ice-skating at City National Arena. Play a round of golf at nearby world-class golf courses or a scenic ride or hike through Red Rock Canyon.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$449,910$549,890$499,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,844
Property Tax -$342
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$81

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.

$499,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.46%

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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$32,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8333$1,9504$2,1505$2,290
$2,290
RENT COMPS ANALYSIS
  • 11218 Corsica Mist Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.17
    •  
  • 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
    property image
    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
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,833
    • $0.98
    •  
  • 11277 Corsica Mist Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2005
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 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
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Paul Conforte
1.702.308.9670
Xpand Realty & Property Manage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249884
Last Updated: 11/21/2020
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