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11353 Corsica Mist Avenue Las Vegas, NV 89135

3 Beds 4 Baths 2,901 sqft Built 2005

$675,000

List Price

$2,850

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $232.68
  • 6 Days on Market
  • MLS # : 2272701
  • Updated Date : 02/27/2021 at 08:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,901 sqft
  • Baths : 4 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

WELCOME HOME!!! Beautiful two-story home with a casita that has a private entrance located in the Heart of Summerlin. Guard gated with amazing community amenities. This home features 4 bedrooms and 4 full baths. Large Kitchen with huge island for the family to gather around. Brand new carpet upstairs/paint throughout. Plantation Shutters throughout the home. This is a must-see!!!!! Contact listing agent with questions. 702-610-2633

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Las Vegas metro has 61.2% labor force participation rate (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
 

$607,500$742,500$675,000

PURCHASE PRICE

$2,565$3,135$2,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,850
EXPENSES Loan Payment -$2,345
Property Tax -$423
Property Insurance -$83
Property Management Fees -$119
CASH FLOW
-$120

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.

$675,000

PROJECTED PRICE

$2,850

PROJECTED RENT

0.42%

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-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,625

INVESTMENT

$184,625

Down Payment
$168,750
Rehab Estimate
$5,750
Closing Costs
$10,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,750
Loan Amount $506,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$34,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,850

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,611

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5003$2,6004$2,7505$2,850
$2,850
RENT COMPS ANALYSIS
  • 11353 Corsica Mist Avenue Las Vegas, NV 5
    • 3 beds 4 baths ∙ 2,901 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,901 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.98
    •  
  • 2351 Malaga Peak Street #- Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,901 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,901 Sqft ∙ Built 2007
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 11337 Corsica Mist Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,704 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,704 Sqft ∙ Built 2005
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
  • 11729 Intervale Road Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,910 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,910 Sqft ∙ Built 2007
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.89
    •  
  • 1957 Cape Cod Landing Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,742 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,742 Sqft ∙ Built 2007
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jacqueline A Frye
1.702.610.2633
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272701
Last Updated: 02/27/2021
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