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12310 Middle Creek Street Las Vegas, NV 89138

4 Beds 4 Baths 2,616 sqft Built 2020

$575,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $219.80
  • 7 Days on Market
  • MLS # : 2250650
  • Updated Date : 11/28/2020 at 15:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,616 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Market Place I

Listing Agent's Description

Come check out this house with so many upgrades! 30K lot premium,Built in smart oven/microwave, range hood, Water softener & reverse osmosis, backyard landscaping/hardscape & sprinklers, Dog run, Hot tub, Shed, widened driveway,Security gate and matching side gate. Granite kitchen countertops, Window tint/security film, Ceiling fans, Surround sound prewire in living room and upstairs game room, Prewired for outdoor security cameras, prewired TV power/data lines behind TVs, extended back patio pavers, Upgraded paint, Refrigerator built in side panel, Upgraded kitchen cabinets & handles, Upgraded kitchen sink, faucets and added matching soap pump, Framed in master bath mirror, Upgraded stair handrail, Can lighting, Exterior patio and porch fans prewire, Extra garage outlets, extra garage lighting, added outlet in master closet for vanity, Prewire for future pool, Prewired for outdoor patio TV, Tankless water heater, Upgraded doors, Upgraded bathroom countertops.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k476k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10762575

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
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
 

$517,500$632,500$575,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,122
Property Tax -$110
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
$131

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$575,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 3.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,375

INVESTMENT

$154,375

Down Payment
$143,750
Rehab Estimate
$2,000
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$68,277

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,838

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,6003$2,6004$2,7505$3,200
$3,200
RENT COMPS ANALYSIS
  • 12310 Middle Creek Street Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,616 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,616 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.98
    •  
  • 868 Riverlawn Place Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 2019 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 2019
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 12220 Capilla Real Avenue Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,474 Sqft ∙ Built 2006
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
  • 880 Haven Oaks Place Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,509 Sqft ∙ Built 2018 5 beds 3 baths ∙ 2,509 Sqft ∙ Built 2018
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.10
    •  
  • 12385 Valley Chase Avenue Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,755 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,755 Sqft ∙ Built 2018
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.16
    •  
PROPERTY LISTING DETAILS
Michelle Larson
1.702.278.0759
Keller Williams Market Place I
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250650
Last Updated: 11/28/2020
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