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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $351.43
- 2 Days on Market
- MLS # : 2312368
- Updated Date : 07/12/2021 at 19:30
CONSTRUCTION
- Beds : 2
- Floor Size : 1,750 sqft
- Baths : 2 full , 1 half
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
Fully remodeled designer-inspired home situated on a private corner lot in the highly coveted, guard-gated Traccia community. Minutes from Downtown Summerlin, Red Rock Casino, Aviator Stadium, and much more. From the Herringbone laid floors, to the stunning marble mosaic backsplash, waterfall edge calacatta jubilee quartz countertop, and brand new appliances/cabinetry, this home is an absolute one-of-a-kind! Home can be sold fully furnished as well.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,020 |
| EXPENSES | Loan Payment | -$2,136 |
| Property Tax | -$319 | |
| Property Insurance | -$61 | |
| HOA | -$230 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$845
|
||
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.
$615,000
PROJECTED PRICE
$2,020
PROJECTED RENT
0.33%
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
$168,725
LOAN DETAILS
$2,136
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $153,750 |
| Loan Amount | $461,250 |
0.25
YEARS SAVED
$138
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,020
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$1,733
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
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- $1,660
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LEASED 09/14/20- Rent
- Rent Per SQFT
- $1,750
- $1.00
PROPERTY LISTING DETAILS
1.702.315.0223
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2312368
Last Updated: 07/12/2021
