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11358 Corsica Mist Avenue Las Vegas, NV 89135

3 Beds 3 Baths 1,962 sqft Built 2006

$496,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $252.80
  • 2 Days on Market
  • MLS # : 2279860
  • Updated Date : 03/21/2021 at 01:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,962 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

SUPERB LOCATION * GUARD GATED* COMMUNITY POOL, FITNESS CENTER, TENNIS*. THIS IS A BEAUTIFUL 3 BEDROOM 2 1/2 BATH HOME WITH LIVING/DINING ROOM, LIVING HAS AN ENTERTAINMENT CENTER, FIREPLACE, DOORS LEADING TO THE BACKYARD, KITCHEN HAS AMPLE STORAGE, PANTRY, TILE FLOORING DOWN, IRON STAIR RAILING, UPSTAIRS LOFT AREA WITH BUILT IN'S, LARGE PRIMARY BEDROOM WITH WALK IN CLOSET, PRIMARY BATH HAS SEPARATE SHOWER, SOAKING JETTED TUB, SECONDARY AND THIRD BEDROOMS HAVE A JACK AND JILL BATH, PLANTATION SHUTTERS THROUGHOUT, NEUTRAL PAINT, NICE SIZE BACKYARD WITH TWO CAR GARAGE, CORNER UNIT AT THE END, SUPER QUIET AND READY FOR MOVE IN CLOSE TO EATERIES, SHOPPING AND FREEWAY.

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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: 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
 

$446,400$545,600$496,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,723
Property Tax -$313
Property Insurance -$65
Property Management Fees -$119
CASH FLOW
-$100

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.

$496,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.43%

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$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,190

INVESTMENT

$137,190

Down Payment
$124,000
Rehab Estimate
$5,750
Closing Costs
$7,440

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,723

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,000
Loan Amount $372,000
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$24,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,119

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,1004$2,1205$2,150
$2,150
RENT COMPS ANALYSIS
  • 11358 Corsica Mist Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.08
    •  
  • 1951 Granemore Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,791 Sqft ∙ Built 2007
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 11190 Corsica Mist Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2011
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
  • 11282 Corsica Mist Avenue #n/a Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2007
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.12
    •  
  • 11306 Corsica Mist Avenue Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,962 Sqft ∙ Built 2006
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.10
    •  
PROPERTY LISTING DETAILS
Sonja R Gorgon
1.702.682.1338
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279860
Last Updated: 03/21/2021
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