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11755 Alness Lane Las Vegas, NV 89141

4 Beds 4 Baths 3,379 sqft Built 2004

$1,499,000

List Price

$3,630

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $443.62
  • 3 Days on Market
  • MLS # : 2260298
  • Updated Date : 01/10/2021 at 03:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,379 sqft
  • Baths : 3 full , 1 half
Listing Agent

Southern Highlands Realty Corp

Listing Agent's Description

Exceptionally rare single story home on oversized 1/3 acre lot located in the guard-gated community of Southern Highlands Golf Club with 24-hr Roving Security. This home features a Front Courtyard, Entry Foyer, Spacious Office/Den, Large Family Room with Fireplace & Wet Bar, Chef Kitchen with Two Granite Island with Breakfast Bar, Custom Cabinetry, Granite Countertops & Stainless Steel Appliances. Laundry Room has the NEW Top of the Line Front Load Washer & Dryer. Guest Casita with a separate entry from the front courtyard. Beautiful Entertainer's Backyard is complete with a Large Covered Patio, Ultimate Outdoor Built-In Grill & Griddle with sink & beverage refrigerator, Trellis Patio with Firepit Area, Mini Putting Green, Curved Pool & Spa with Water Feature.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k410k

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

Neighborhood: Southern Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Evelyn Stuckey Elementary School Primary Regular 949 46 8
Lois And Jerry Tarkanian Middle School Middle Regular 1,739 71 NA
Desert Oasis High School High Regular 2,417 102 5

Evelyn Stuckey Elementary School

  • Education Level: Primary
  • # of students: 949
  • # of teachers: 46
8
GreatSchools Rating

Lois And Jerry Tarkanian Middle School

  • Education Level: Middle
  • # of students: 1,739
  • # of teachers: 71
NA
GreatSchools Rating

Desert Oasis High School

  • Education Level: High
  • # of students: 2,417
  • # of teachers: 102
5
GreatSchools Rating
 

$1,349,100$1,648,900$1,499,000

PURCHASE PRICE

$3,267$3,993$3,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,630
EXPENSES Loan Payment -$5,207
Property Tax -$939
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$2,728

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.

$1,499,000

PROJECTED PRICE

$3,630

PROJECTED RENT

0.24%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$40k-$30k-$20k-$10k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$402,985

INVESTMENT

$402,985

Down Payment
$374,750
Rehab Estimate
$5,750
Closing Costs
$22,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$5,207

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $374,750
Loan Amount $1,124,250
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$83

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,630

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,889

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5453$2,5904$3,5005$3,630
$3,630
RENT COMPS ANALYSIS
  • 11755 Alness Lane Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,379 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,379 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,630
    • $1.07
    •  
  • 3528 Cupecoy Point Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 3,133 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,133 Sqft ∙ Built 2004
    property image
    LEASED 10/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.80
    •  
  • 3242 Rapace Lane Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,134 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,134 Sqft ∙ Built 2004
    property image
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.81
    •  
  • 11478 Bargetto Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.83
    •  
  • 11562 Capanna Rosso Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,589 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,589 Sqft ∙ Built 2004
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mitchell C Mcclellan
1.702.616.2500
Southern Highlands Realty Corp
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260298
Last Updated: 01/10/2021
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