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PROPERTY INFO
FACTS
- Single Family
- Built In 2016
- Price/Sqft : $205.75
- 10 Days on Market
- MLS # : 2258304
- Updated Date : 01/14/2021 at 16:39
CONSTRUCTION
- Beds : 4
- Floor Size : 2,576 sqft
- Baths : 3 full , 1 half
Listing Agent
Coldwell Banker Premier
Listing Agent's Description
72 HOUR HOME SALE. INQUIRE NOW. ENCHANTED, TASTEFUL, PREMIUM UPGRADED 4 BEDROOM, 4 BATH, 2 CAR GAR HOME IN EXCLUSIVE SUMMERLIN VILLAGE THE PASEOS TEVARE GATED COMMUNITY. Luxury Kitchen Feat. Whirlpool Stainless Steel Appls, High Grade Granite Counters, Oversized Island, Brkfast Bar, Custom Cabs, Built-in Oven + Microwave, Kohler Sink. Master Suite Incl. Dbl Walk-in Closets, Ceiling Fan/Lt, Expanded Balcony w/ Mountain Views. Master Bath w/ His + Hers Vanities, Spa Shower, Soaking Tub. Central Wifi/Cat 5 Package/Fiber Fast Internet. Soft H2O Loop, 2 Tone Upgraded Paint, 9 Ft Ceiling. Moen Chateau Watersense Chrome in Baths. Masterbrand Brellin Cabinets. Cultured Marble + Moen Faucets in Baths. Radiant Barrier Roof Sheathing. Gar Keyless Entry. Samsung Washer/Dryer in Laundy Rm. 14 Seer AC. Parks, Walking trails, and Close to Red Rock, Downtown Summerlin, and the 215 Freeway. Years left on Builders (KB) Warranty
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Paseos
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,720 |
| EXPENSES | Loan Payment | -$1,841 |
| Property Tax | -$460 | |
| Property Insurance | -$77 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$223
|
||
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.
$530,000
PROJECTED PRICE
$2,720
PROJECTED RENT
0.51%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$146,200
LOAN DETAILS
$1,841
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $132,500 |
| Loan Amount | $397,500 |
7.92
YEARS SAVED
$55,243
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,720
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$2,711
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
-
12282 Argent Bay Avenue Las Vegas, NV 3
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- Rent Per SQFT
- $2,720
- $1.06
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12281 Terrace Verde Avenue Las Vegas, NV 1
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LEASED 03/21/20- Rent
- Rent Per SQFT
- $2,500
- $0.95
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366 Port Reggio Street Las Vegas, NV 2
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LEASED 02/03/20- Rent
- Rent Per SQFT
- $2,700
- $0.98
-
12320 Kings Meadow Court Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2013
LEASED 06/26/20- Rent
- Rent Per SQFT
- $2,900
- $1.15
-
12225 Terrace Verde Avenue Las Vegas, NV 5
- 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2016
LEASED 11/06/20- Rent
- Rent Per SQFT
- $3,000
- $1.13
PROPERTY LISTING DETAILS
1.702.239.8400
Coldwell Banker Premier
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2258304
Last Updated: 01/14/2021
