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11448 Storici Street Las Vegas, NV 89141

5 Beds 3 Baths 3,133 sqft Built 2005

$502,500

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $160.39
  • 19 Days on Market
  • MLS # : 2243070
  • Updated Date : 11/18/2020 at 09:17
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,133 sqft
  • Baths : 3 full
Listing Agent

Kings Land Realty , Inc

Listing Agent's Description

Beautiful Southern Highlands home with pool. Balcony off master bedroom with mountain and city views. Maple cabinets in kitchen, granite countertops, tile flooring, large pantry in a gourmet kitchen. Large secondary rooms. Downstairs bedroom. Home on cul de sac with no homes behind the home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$452,250$552,750$502,500

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,854
Property Tax -$328
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
$81

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.

$502,500

PROJECTED PRICE

$2,470

PROJECTED RENT

0.49%

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$1.8M

PROJECTED ANNUAL CASH FLOW

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

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$138,913

INVESTMENT

$138,913

Down Payment
$125,625
Rehab Estimate
$5,750
Closing Costs
$7,538

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,854

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,625
Loan Amount $376,875
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$49,295

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,444

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4704$2,5905$2,700
$2,700
RENT COMPS ANALYSIS
  • 11448 Storici Street Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.79
    •  
  • 11442 Vadella Sound Way Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,133 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,133 Sqft ∙ Built 2004
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
  • 11444 Steponia Bay Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.73
    •  
  • 11478 Bargetto Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.83
    •  
  • 3340 Alcudia Bay Avenue Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,133 Sqft ∙ Built 2004
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.86
    •  
PROPERTY LISTING DETAILS
Claire T Kingsland
1.702.375.8573
Kings Land Realty , Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243070
Last Updated: 11/18/2020
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