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11373 Corsica Mist Avenue Las Vegas, NV 89135

3 Beds 3 Baths 1,610 sqft Built 2010

$425,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $263.98
  • 5 Days on Market
  • MLS # : 2251967
  • Updated Date : 12/04/2020 at 13:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,610 sqft
  • Baths : 2 full , 1 half
Listing Agent

Evernest Realty Las Vegas Corp

Listing Agent's Description

Another amazing listing by The Julia Feng Group. Walking distance to all amenities, close to all schools. In the heart of downtown Summerlin. Beautiful home inside and out. Hardwood floors throughout home. Have pride of homeownership with this home. Beautiful well lit rooms, master with ceiling fan and amazing closet. Don't wait. Call now to schedule your showing before it is off market!

SEE MORE

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
 

$382,500$467,500$425,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,568
Property Tax -$293
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$278

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.

$425,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.41%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$10,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7603$1,8004$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 11373 Corsica Mist Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,610 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.09
    •  
  • 11389 Ogden Mills Drive #103 Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,603 Sqft ∙ Built 2013
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.06
    •  
  • 11395 Ogden Mills Drive #101 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,663 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,663 Sqft ∙ Built 2013
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
  • 1951 Granemore Las Vegas, NV 4
    • 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
    •  
  • 2259 Aragon Canyon Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2005
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.16
    •  
PROPERTY LISTING DETAILS
Julia Feng
1.702.588.1080
Evernest Realty Las Vegas Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251967
Last Updated: 12/04/2020
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