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11392 Orazio Drive Las Vegas, NV 89138

4 Beds 3 Baths 3,104 sqft Built 2004

INVESTimate

$649,000

List Price

$3,190

$2,940 - $3,440

Rent Est.

$693,716  ( +6.89%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $209.09
  • 5 Days on Market
  • MLS # : 2224148
  • Updated Date : 08/24/2020 at 08:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,104 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

A beautifully upgraded 3,104 sq/ft Toll Brothers Home in the Monterossa gated community of Summerlin. This is one of the most popular Toll Brothers floorpans in Las Vegas. The property wraps around a central courtyard with french doors and windows that bring light into the home from all angles. This 4 bed 3 bath home features a bonus front den and upstairs tech area. The relaxing backyard comes complete with heated pool and spa with plenty of space to entertain and enjoy guests. The home has been freshly painted throughout and has been meticulously cared for by the current owners. Some of the additional features include, tankless water heater (brand new), 3 car tandem garage, hickory wood flooring, SS Jenn-air and Kitchen Aid appliances, balcony, and newly updated gas fireplace. This home will not last!

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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: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
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
 

$584,100$713,900$649,000

PURCHASE PRICE

$2,871$3,509$3,190

RENT

DOWN PAYMENT
FINANCING

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$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,190
EXPENSES Loan Payment -$2,395
Property Tax -$479
Property Insurance -$87
HOA -$73
Property Management Fees -$119
CASH FLOW
$38

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.

$649,000

PROJECTED PRICE

$3,190

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.89%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$177,735

INVESTMENT

$177,735

Down Payment
$162,250
Rehab Estimate
$5,750
Closing Costs
$9,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$2,395

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,250
Loan Amount $486,750
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$54,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,190

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $3,267

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$3,0003$3,1904$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 11392 Orazio Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,190
    • $1.03
    •  
  • 12037 Aragon Springs Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,044 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,044 Sqft ∙ Built 2007
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.94
    •  
  • 11004 Edina Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,964 Sqft ∙ Built 2001
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.01
    •  
  • 11405 Orazio Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,104 Sqft ∙ Built 2004
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.13
    •  
  • 408 Lake Windemere Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,091 Sqft ∙ Built 2003
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.13
    •  
PROPERTY LISTING DETAILS
Brendan J King
1.702.623.3259
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224148
Last Updated: 08/24/2020
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