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11459 Crimson Rose Avenue Las Vegas, NV 89138

3 Beds 2 Baths 1,884 sqft Built 2004

$429,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $227.71
  • 12 Days on Market
  • MLS # : 2241229
  • Updated Date : 10/30/2020 at 00:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Vip

Listing Agent's Description

Welcome to your new home in the Summerlin Vistas Community. This charming home features a modern color scheme and stone exterior, mature landscaping entering into an enclosed courtyard. Open floor plan with tile floors throughout the living areas and carpeted bedrooms. Home features great space separating the bedrooms for privacy and spacious hallway and laundry room. Shutters throughout and recessed lighting. Escape into the low maintenance and luscious backyard with real grass mixed with desert landscaping. This is a charming, well maintained home.

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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: 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
 

$386,100$471,900$429,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,583
Property Tax -$289
Property Insurance -$64
HOA -$36
Property Management Fees -$119
CASH FLOW
-$231

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.

$429,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.43%

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$200k$400k$600k$800k$1.0M$1.2M

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,435

INVESTMENT

$119,435

Down Payment
$107,250
Rehab Estimate
$5,750
Closing Costs
$6,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,583

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,250
Loan Amount $321,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$14,082

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,856

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7953$1,8504$1,8605$2,005
$2,005
RENT COMPS ANALYSIS
  • 11459 Crimson Rose Avenue Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.99
    •  
  • 11608 West Sleepy Heaven Place Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 2004
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 11516 Regal Rock Place Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.95
    •  
  • 11517 Regal Rock Place Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 11525 Regal Rock Place Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2004
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,005
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mary Preheim
1.702.625.3256
Keller Williams Vip
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241229
Last Updated: 10/30/2020
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