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PROPERTY INFO
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.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Southern Highlands
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$108,835
LOAN DETAILS
$1,435
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $97,250 |
| Loan Amount | $291,750 |
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
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- $2,150
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PROPERTY LISTING DETAILS
1.775.513.6336
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255041
Last Updated: 12/12/2020
