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1156 Colgate Lane Las Vegas, NV 89110

4 Beds 3 Baths 2,021 sqft Built 2001

$328,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $162.30
  • 4 Days on Market
  • MLS # : 2279786
  • Updated Date : 03/19/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,021 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allure Realty Group Llc

Listing Agent's Description

4bed 2.5bath in Sunrise Manor! NO HOA, RV Parking, RV Hookup! Cover patio, Stamped concrete in the backyard! Master bathroom with double sink and shower!

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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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$295,200$360,800$328,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$1,139
Property Tax -$209
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
-$3

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$328,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$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$92,670

INVESTMENT

$92,670

Down Payment
$82,000
Rehab Estimate
$5,750
Closing Costs
$4,920

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,139

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,000
Loan Amount $246,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,455

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5304$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 1156 Colgate Lane Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.76
    •  
  • 5782 Dana Rogers Drive Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,830 Sqft ∙ Built 1997
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.77
    •  
  • 1165 Colgate Lane Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,021 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,021 Sqft ∙ Built 2001
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 6137 Kadena Circle Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1995
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 6182 Halehaven Drive Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 1997
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
PROPERTY LISTING DETAILS
Jonny C Lopez
1.702.741.0824
Allure Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279786
Last Updated: 03/19/2021
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