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1170 Village Crossing Lane Las Vegas, NV 89183

2 Beds 3 Baths 1,191 sqft Built 2008

$249,999

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $209.91
  • 7 Days on Market
  • MLS # : 2254764
  • Updated Date : 12/16/2020 at 07:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,191 sqft
  • Baths : 2 full , 1 half
Listing Agent

American Realty Properties Llc

Listing Agent's Description

ABSOLUTELY GORGEOUS,READY TO MOVE IN LOCATED IN SILVERRADO RANCH FEATURES WOOD LAMINATE FLOOES,TILE AND UPGRADED BASEBOARDS. ALL APPLIANCES STAY.SPSCIOUS KITCHEN AND UPGRADED KITCHEN CABINETS.MASTER BEDROOM HAS WALK-IN CLOSET W/ CUSTOM BUILT-INS.COMMUNITY POOL,CLOSE TO SHOPPING STORES,RESTSURANTS.SHOW THIS ONE TODAY.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
John C. Bass Elementary School Primary Regular 885 46 6
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John C. Bass Elementary School

  • Education Level: Primary
  • # of students: 885
  • # of teachers: 46
6
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$922
Property Tax -$165
Property Insurance -$50
Property Management Fees -$119
CASH FLOW
$63

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.

$249,999

PROJECTED PRICE

$1,320

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$26,395

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,307

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3204$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 1170 Village Crossing Lane Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,191 Sqft ∙ Built 2008 2 beds 3 baths ∙ 1,191 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $1.11
    •  
  • 10245 South Maryland Pw Parkway #1191 Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 2004
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.05
    •  
  • 10184 Village Edge Place Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,191 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,191 Sqft ∙ Built 2007
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.09
    •  
  • 1033 Sweeping Ivy Court Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,264 Sqft ∙ Built 1999 2 beds 3 baths ∙ 1,264 Sqft ∙ Built 1999
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.10
    •  
  • 10142 Village Edge Place Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,304 Sqft ∙ Built 2007 2 beds 3 baths ∙ 1,304 Sqft ∙ Built 2007
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Sami Sidhm
1.702.808.6314
American Realty Properties Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2254764
Last Updated: 12/16/2020
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