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11228 Vine Creek Place Las Vegas, NV 89138

5 Beds 3 Baths 2,215 sqft Built 2007

INVESTimate

$484,900

List Price

$2,250

$2,025 - $2,475

Rent Est.

$518,310  ( +6.89%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $218.92
  • 10 Days on Market
  • MLS # : 2222511
  • Updated Date : 08/20/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,215 sqft
  • Baths : 2 full , 1 half
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

Summerlin STUNNER! Beautiful “FIVE” bedroom home located in the Vistas. Entertainer’s kitchen features granite countertops and new stainless steel appliances. Upgrades include new laminate/wood flooring throughout, fresh new paint and plantation shutters. Convenient office/bedroom on the first level. Oasis backyard with sparkling pool and spa. This home is also equipped with solar. Close to Downtown Summerlin, park, playground, tennis courts, exercise and community pool.

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MARKET HIGHLIGHTS

  • 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

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
 

$436,410$533,390$484,900

PURCHASE PRICE

$2,025$2,475$2,250

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,789
Property Tax -$390
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
-$118

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.

$484,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.89%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,249

INVESTMENT

$134,249

Down Payment
$121,225
Rehab Estimate
$5,750
Closing Costs
$7,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,225
Loan Amount $363,675
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$26,835

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,232

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2003$2,2504$2,2955$2,350
$2,350
RENT COMPS ANALYSIS
  • 11228 Vine Creek Place Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,215 Sqft ∙ Built 2007 5 beds 3 baths ∙ 2,215 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 11224 Vine Creek Place Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2007
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 11261 Sandrone Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 2002
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
  • 1021 Ambrosia Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 2007
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.04
    •  
  • 913 Ambrosia Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,215 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,215 Sqft ∙ Built 2008
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jason S Aguirre
1.702.960.2289
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222511
Last Updated: 08/20/2020
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