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12213 Old Muirfield Street Las Vegas, NV 89141

4 Beds 4 Baths 3,425 sqft Built 2015

$699,900

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $204.35
  • 3 Days on Market
  • MLS # : 2259041
  • Updated Date : 01/15/2021 at 23:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,425 sqft
  • Baths : 3 full , 1 half
Listing Agent

Petra Realty Group

Listing Agent's Description

GORGEOUS SOUTHERN HIGHLANDS BEAUTY! NESTLED IN DESIRABLE GATED COMMUNITY, PRIDE IN THIS ONE OWNER HOME RADIATES THROUGHOUT!! FEATURING DUAL MASTERS WITH ONE DOWN COMPLETE WITH IN-ROOM LAUNDRY AND OVERSIZED WALK-IN CLOSET. UPSTAIRS MASTER WITH OVERSIZED BALCONY, UPSTAIRS LARGE LOFT, UPGRADED FLOORING, GOURMET KITCHEN W/ BIANCO ANTICO GRANITE, 42" FLAT PANEL TAHOE WHITE CAB, ELECTROLUX STAINLESS KITCHEN APP. W/72" SUBZERO FRIDGE. HOME ALSO INCLUDES TAEXX PEST CONTROL SYSTEM, LENNAR HOME AUTOMATIZATION, OWNED WATER TREATMENT SYSTEM WITH R/O FEATURE, OVERSIZED PATIO COVER, BBQ STUB, USB OUTLETS AT KITCHEN & MASTER , 9 ' CEILINGS WITH RECESSED LIGHT, FRONT YARD LANDSCAPING , BLINDS, AND MUCH MORE! READY TO CALL HOME AND MAKE WONDERFUL MEMORIES.

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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: 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
 

$629,910$769,890$699,900

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$2,431
Property Tax -$457
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
$50

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.

$699,900

PROJECTED PRICE

$3,150

PROJECTED RENT

0.45%

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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

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$191,224

INVESTMENT

$191,224

Down Payment
$174,975
Rehab Estimate
$5,750
Closing Costs
$10,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,431

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,975
Loan Amount $524,925
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$50,737

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,817

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,545
1$2,5452$2,5903$2,7504$2,9005$3,150
$3,150
RENT COMPS ANALYSIS
  • 12213 Old Muirfield Street Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,425 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,425 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.92
    •  
  • 3242 Rapace Lane Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,134 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,134 Sqft ∙ Built 2004
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,545
    • $0.81
    •  
  • 11478 Bargetto Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,133 Sqft ∙ Built 2005
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,590
    • $0.83
    •  
  • 12730 Coastline Shadow Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,433 Sqft ∙ Built 2018 5 beds 4 baths ∙ 3,433 Sqft ∙ Built 2018
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.80
    •  
  • 3697 Regatta Landing Drive Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,420 Sqft ∙ Built 2019
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.85
    •  
PROPERTY LISTING DETAILS
Kris E Kaye
1.702.821.6185
Petra Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259041
Last Updated: 01/15/2021
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