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1166 Mint Julep Way Las Vegas, NV 89142

4 Beds 2 Baths 2,454 sqft Built 1996

$379,999

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $154.85
  • 8 Days on Market
  • MLS # : 2271841
  • Updated Date : 02/21/2021 at 21:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,454 sqft
  • Baths : 2 full
Listing Agent

Prestige Properties

Listing Agent's Description

This Beautiful home has an Open and spacious floorplan. 4 Bedrooms with one down, has big formal living room, formal dinning room and 2 family rooms, one up and one down, family room down has a gas fireplace, Laminate wood flooring & tile throughout. Kitchen has Island with granite counter tops and plenty of cabinet space. Home sits on a corner lot with nice size back yard, home has solar panels to save on your electric bill.

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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: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Orchards

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Daniel Goldfarb Elementary School Primary Regular 838 38 6
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Daniel Goldfarb Elementary School

  • Education Level: Primary
  • # of students: 838
  • # of teachers: 38
6
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$341,999$417,999$379,999

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$1,320
Property Tax -$226
Property Insurance -$75
Property Management Fees -$119
CASH FLOW
$40

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.

$379,999

PROJECTED PRICE

$1,780

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $284,999
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$25,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,7804$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 1166 Mint Julep Way Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.73
    •  
  • 6567 Tulip Garden Drive Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.68
    •  
  • 5991 Tamara Costa Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2001
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.68
    •  
  • 1445 Tangerine Rose Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,454 Sqft ∙ Built 1998
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.73
    •  
  • 1206 Mint Julep Way Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,279 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
PROPERTY LISTING DETAILS
Gregg Poots
1.702.743.7262
Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271841
Last Updated: 02/21/2021
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