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1157 Morning Sun Way Las Vegas, NV 89110

3 Beds 2 Baths 1,863 sqft Built 1976

$389,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $208.80
  • 3 Days on Market
  • MLS # : 2254636
  • Updated Date : 12/11/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,863 sqft
  • Baths : 2 full
Listing Agent

Rothwell Gornt Companies

Listing Agent's Description

This 1/2 Acre Estate sits on the side of Sunrise Mountain with Stunning Views of the Las Vegas Strip and entire City!! One Story with Open Floor Plan, The Kitchen was Recently Remodeled with new Cabinets, Stainless Steel Appliances, and White Quartz Counter Tops!! Huge Living Room with Fireplace and Bar that is perfecting for Entertaining! The Backyard boasts mature landscaping and a massive Covered Patio and the most Amazing Views of the Strip!! 3 Bedrooms with 2 Bathroom, and just under 2,000 sqft this home is sure to please. Unveiling this property on 11/7 and 11/8 at an Open House from 12 pm to 2pm.

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: 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
 

$350,100$427,900$389,000

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 -$1,435
Property Tax -$183
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
-$270

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.

$389,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.39%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,435

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,715

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
  • $0.82

    LIST RENT PER SQFT
  • $1,593

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,5305$1,550
$1,550
RENT COMPS ANALYSIS
  • 1157 Morning Sun Way Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,863 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.82
    •  
  • 7011 Adelaide Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,611 Sqft ∙ Built 1987
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 6016 Great Falls Avenue Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1984
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 6727 East Washington Avenue #n/a Las Vegas, NV 3
    • 3 beds 1 baths ∙ 1,666 Sqft ∙ Built 1976 3 beds 1 baths ∙ 1,666 Sqft ∙ Built 1976
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 6137 Kadena Circle Las Vegas, NV 5
    • 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
    •  
PROPERTY LISTING DETAILS
Ryan Crighton
1.702.217.1048
Rothwell Gornt Companies
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254636
Last Updated: 12/11/2020
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