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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $166.15
- 2 Days on Market
- MLS # : 2258838
- Updated Date : 01/03/2021 at 04:13
CONSTRUCTION
- Beds : 3
- Floor Size : 1,294 sqft
- Baths : 2 full , 1 half
Listing Agent
Realty One Group, Inc
Listing Agent's Description
Cozy starter home or investment. 3 bedroom and 2 1/12 bath. Open floorplan with great room, kitchen and dining donwstairs. Large master bedroom with bath and walk in closet. A must see!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Orchards
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Orchards
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,270 |
| EXPENSES | Loan Payment | -$793 |
| Property Tax | -$147 | |
| Property Insurance | -$52 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$159
|
||
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.
$215,000
PROJECTED PRICE
$1,270
PROJECTED RENT
0.59%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
9.17
YEARS SAVED
$31,524
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,270
LIST RENT -
$0.98
LIST RENT PER SQFT
-
$1,135
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
1211 Black Cherry Street Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2005
![property image]()
- Rent
- Rent Per SQFT
- $1,270
- $0.98
-
1262 Orange Meadow Street Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2003
![property image]()
LEASED 07/17/20- Rent
- Rent Per SQFT
- $1,195
- $0.92
-
5985 Blackberry Field Avenue Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2004
![property image]()
LEASED 10/02/20- Rent
- Rent Per SQFT
- $1,250
- $0.85
-
1198 Plum Canyon Street Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,478 Sqft ∙ Built 2003
![property image]()
LEASED 03/21/20- Rent
- Rent Per SQFT
- $1,275
- $0.86
-
1301 Orange Meadow Street Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,475 Sqft ∙ Built 2003
![property image]()
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,300
- $0.88
PROPERTY LISTING DETAILS
1.702.325.6559
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2258838
Last Updated: 01/03/2021
