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11261 Fiesole Street Las Vegas, NV 89141

4 Beds 2 Baths 2,124 sqft Built 2004

$389,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $183.15
  • 4 Days on Market
  • MLS # : 2255041
  • Updated Date : 12/12/2020 at 12:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,124 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

True pride in ownership! Owner loves this Southern Highlands neighborhood and hates to leave this great home, but they have decided to downsize. Home features sun room/den off the kitchen which is next to the main floor bedroom and 3/4 bath. Granite counter tops, gas stove, new dishwasher and island with bar stool seating. Spacious open main floor plan with the master, 2 other bedrooms and loft upstairs. Ceiling fan with light in all rooms except the living room that only has a fan. Hot water heater was replaced last year and water softener is owned. Home has Lutron Ceseta smart lighting which allows you to turn lights on & off with your smartphone. Washer & dryer, chest freezer and shelving in the garage are included.

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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: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$350,100$427,900$389,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,435
Property Tax -$244
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$4

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.

$389,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.48%

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$32,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8053$1,8704$1,8955$2,150
$2,150
RENT COMPS ANALYSIS
  • 11261 Fiesole Street Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.88
    •  
  • 11235 Fiesole Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,124 Sqft ∙ Built 2004
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
  • 10972 Ladyburn Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,162 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,162 Sqft ∙ Built 2006
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,805
    • $0.83
    •  
  • 11144 Coco Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,295 Sqft ∙ Built 2002
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 11232 Piazzale Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,164 Sqft ∙ Built 2004
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.99
    •  
PROPERTY LISTING DETAILS
Karen M Mchale
1.775.513.6336
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255041
Last Updated: 12/12/2020
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