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11952 Orense Drive Las Vegas, NV 89138

3 Beds 3 Baths 1,719 sqft Built 2005

$410,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $238.51
  • 3 Days on Market
  • MLS # : 2251616
  • Updated Date : 12/18/2020 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,719 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

AMAZING BEAUTIFUL REMODEL BOASTING STRIP & MOUNTAIN VIEWS FROM THE UPSTAIRS BALCONY! GRANITE COUNTERTOPS IN KITCHEN W/WALKER ZANGER PHASSOS GREEK MARBLE STONE BACKSPLASH! FLOATING VAINITES IN THE UPSTAIRS BATHROOMS W/SEAMLESS GLASS PARTY SHOWER IN THE MASTER BATH! ENTIRE HOUSE HAS BEEN FRESHLY PAINTED INSIDE AND OUT, NEW BASEBOARDS ALL THROUGHOUT AS WELL AS NEW CARPET AND TOILETS UPSTAIRS! NOT TO MENTION BRAND NEW, NEVER BEEN USED STAINLESS STEEL APPLIANCES! ENJOY THE BIGGEST LOT IN THE SUBDIVISION IN THE HEART OF SUMMERLIN, JUST MINUTES FROM DOWNTOWN SUMMERLIN, THE BASEBALL STADIUM AND RED ROCK CANYON! WILL NOT LAST LONG!

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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: 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
 

$369,000$451,000$410,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,513
Property Tax -$287
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$189

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.

$410,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.44%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$16,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,792

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,7904$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 11952 Orense Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.04
    •  
  • 11920 Alava Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 11845 Bussero Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,719 Sqft ∙ Built 2006
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.02
    •  
  • 1044 Calvia Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2005
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
  • 11824 Ampucia Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2005
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Teresa Mccormick
1.702.321.9296
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251616
Last Updated: 12/18/2020
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