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11421 Orazio Drive Las Vegas, NV 89138

3 Beds 3 Baths 3,117 sqft Built 2004

$699,900

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $224.54
  • 3 Days on Market
  • MLS # : 2263781
  • Updated Date : 01/23/2021 at 18:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,117 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

ABSOLUTLY STUNNING LOCATED IN THE HEART OF SUMMERLIN-AS YOU WALK UP TO THIS JEWEL WITH UPGRADED EXTENDED PEBBLE TEK STEPS WITH ACCENT LIGHTING YOU WILL BE FASINATED WITH ALL THE UPGRADES-BEAUTIFUL COURT YARD WITH FRENCH DOORS-AS YOU ENTER INTO THE FORMAL ENTRY YOU COME UPON A WROUGHT IRON STAIRCASE-FORMAL DINING ROOM-SEPERATE SITTING AREA-THE UPGADED KITCHEN IS ONE OF A KIND-CUSTOM BAR AREA THAT SEPERATES THE GREAT ROOM WITH FIREPLACE GREAT FOR ENTERTAINING AND BUILT IN UPGRADED CABINETS FRENCH DOORS LEADING OUT TO THE GRACIOUS POOL AREA-4TH BED IS OFFICE ALSO WITH FRENCH DOORS -LARGE MASTER WITH WALK IN CLOSET-MASTER BATH HAS BEAUTIFUL CUSTOM CABINETS & MIRROWS-LAVISH CHANDELIERS IN MASTER-POOL WITH LOTS OF MATURE LANDSCAPING-EASY ACCESS TO FREEWAY AND SHOPPING

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MARKET HIGHLIGHTS

  • 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: 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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$2,431
Property Tax -$474
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
$168

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.

$699,900

PROJECTED PRICE

$3,280

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
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$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$62,391

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $3,678

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$3,280
1$3,2802$3,5003$3,5004$3,8005$3,800
$3,800
RENT COMPS ANALYSIS
  • 11421 Orazio Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,117 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,117 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.05
    •  
  • 11405 Orazio Las Vegas, NV 2
    • 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 3
    • 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
    •  
  • 870 Roseberry Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,109 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,109 Sqft ∙ Built 2005
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.22
    •  
  • 11517 Bohemian Forest Avenue Las Vegas, NV 5
    • 3 beds 4 baths ∙ 3,063 Sqft ∙ Built 2004 3 beds 4 baths ∙ 3,063 Sqft ∙ Built 2004
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.24
    •  
PROPERTY LISTING DETAILS
Linda Jo Brown
1.702.274.2200
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263781
Last Updated: 01/23/2021
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