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12274 La Prada Place Las Vegas, NV 89138

4 Beds 4 Baths 3,387 sqft Built 2005

$790,000

List Price

$3,660

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $233.24
  • 2 Days on Market
  • MLS # : 2258361
  • Updated Date : 01/02/2021 at 15:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,387 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

The Summerlin dream!Enjoy this upgraded home in a gated community w/easy access to parks,walking trails & Red Rock Canyon.Grand rotunda entry greets you as you step into this bright & airy home w/a center courtyard set up for entertainment.Private office at the front of the home overlooks the street.Front room could be a dining room,separate sitting area, music room, etc.The chef's kitchen was remodeled w/newer,rich cabinetry,sub zero refrigerator & quartz countertops.Enjoy snuggling up next to the fireplace in this spacious family room right off of the kitchen w/views of the pool.An En-suite bedroom w/a walk-in closet is located downstairs.Retire to the large owner's suite w/a balcony w/mountain & city views.Relax in the spa like master bath w/recently remodeled shower & jet tub.The additional 2 bedrooms upstairs are large w/a Jack-N-Jill bath.Loft/den would be a good theater/game room.Outdoors boasts a recently resurfaced refreshing pool w/waterfall & a paver covered patio.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
 

$711,000$869,000$790,000

PURCHASE PRICE

$3,294$4,026$3,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,660
EXPENSES Loan Payment -$2,915
Property Tax -$575
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$41

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.

$790,000

PROJECTED PRICE

$3,660

PROJECTED RENT

0.46%

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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$215,100

INVESTMENT

$215,100

Down Payment
$197,500
Rehab Estimate
$5,750
Closing Costs
$11,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$2,915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $197,500
Loan Amount $592,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$58,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,660

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $3,649

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$3,450
1$3,4502$3,5003$3,6604$3,8005$3,995
$3,995
RENT COMPS ANALYSIS
  • 12274 La Prada Place Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $3,660
    • $1.08
    •  
  • 12282 Bluebird Canyon Place Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,320 Sqft ∙ Built 2006
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $1.04
    •  
  • 948 White Feather Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,423 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
  • 12049 La Palmera Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.12
    •  
  • 928 White Feather Lane Las Vegas, NV 5
    • 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,540 Sqft ∙ Built 2005
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jody A Lenzie
1.702.499.9494
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258361
Last Updated: 01/02/2021
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