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11351 Corsica Mist Avenue Las Vegas, NV 89135

3 Beds 3 Baths 2,501 sqft Built 2005

$549,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $219.87
  • 5 Days on Market
  • MLS # : 2265543
  • Updated Date : 02/04/2021 at 19:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,501 sqft
  • Baths : 3 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great 2 story home in Guard gated Traccia subdivision* Over $84k in upgrades*Master Bedroom downstairs*custom kitchen with expanded island, upgraded granite with full backsplash*Add'l cabinets w/ granite & custom dry bar*custom stair railing*Custom shutters & ceil. fans t/o*Extra recessed lighting in the great room*custom storage in the garage*Secluded backyard with extended patio*Balcony with mountain views* A must see*

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
 

$494,910$604,890$549,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,910
Property Tax -$370
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$155

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.

$549,900

PROJECTED PRICE

$2,630

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$500k$1.0M$1.5M$2.0M

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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,474

INVESTMENT

$151,474

Down Payment
$137,475
Rehab Estimate
$5,750
Closing Costs
$8,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,475
Loan Amount $412,425
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$51,226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,626

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4503$2,5954$2,6005$2,630
$2,630
RENT COMPS ANALYSIS
  • 11351 Corsica Mist Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,501 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,501 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.05
    •  
  • 1351 Manorwood Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,358 Sqft ∙ Built 2007
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
  • 11325 Aragon Mist Court #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.00
    •  
  • 11320 Corsica Mist Avenue #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.12
    •  
  • 11405 Ogden Mills Drive #102 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 2013
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mark A Weinberg
1.702.493.8000
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265543
Last Updated: 02/04/2021
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