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11838 Tres Bispos Avenue Las Vegas, NV 89138

3 Beds 3 Baths 2,324 sqft Built 2016

$642,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $276.25
  • 3 Days on Market
  • MLS # : 2261974
  • Updated Date : 01/16/2021 at 05:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,324 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

***VIEW-TIFUL in EVERY WAY! Enjoy the breathtaking views of the dazzling city and Strip lights AND the majestic mountains from your private rooftop deck! That's right, a Roof Top Deck with this Home! Your Living Space upstairs is expanded with a wall of sliding windows that opens to additional living space on an expansive Balcony. More Stunning Mountain Views to enjoy. Double your living space, both up and down. Island kitchen features stainless steel appliances, decorative backsplash, solid surface counters with a walk in pantry. Stunning Plantation Shutters throughout to provide privacy to your home. Separate primary bedroom downstairs. Easy to maintain tile flooring that expands a great percentage of the home. Enjoy time in this Private backyard with no neighbors behind***

SEE MORE

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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$577,800$706,200$642,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$2,230
Property Tax -$452
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$353

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.

$642,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,880

INVESTMENT

$175,880

Down Payment
$160,500
Rehab Estimate
$5,750
Closing Costs
$9,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,230

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,500
Loan Amount $481,500
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$15,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,556

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5204$2,5505$2,700
$2,700
RENT COMPS ANALYSIS
  • 11838 Tres Bispos Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $1.08
    •  
  • 440 Trevinca Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,302 Sqft ∙ Built 2015
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
  • 11819 Mino Rio Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,324 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
  • 11911 Montanesa Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2016
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.09
    •  
  • 11815 Mino Rio Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2017
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.14
    •  
PROPERTY LISTING DETAILS
Christina Yeakel
1.702.767.8812
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261974
Last Updated: 01/16/2021
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