Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1305 Pine Terrace Court North Las Vegas, NV 89031

3 Beds 2 Baths 1,608 sqft Built 1993

$299,999

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $186.57
  • 3 Days on Market
  • MLS # : 2246490
  • Updated Date : 11/07/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Exp Realty

Listing Agent's Description

THIS IS A MUST SEE! Hard to find single-story pool home for under 300k. Is it really true, "YES". Own this home cheaper then what it would cost to rent! This 3 bedroom, 2 bathroom home features an upgraded kitchen with stainless steel appliances included. Imagine enjoying every summer with family in this spacious backyard and cooling off in this amazing pool. Then enjoying the winter evenings in the vaulted ceiling living room by the fire place.

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: Highland Springs

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Highland Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Addeliar Guy Elementary School Primary Regular 641 35 5
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Mojave High School High Regular 2,311 103 2

Addeliar Guy Elementary School

  • Education Level: Primary
  • # of students: 641
  • # of teachers: 35
5
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$269,999$329,999$299,999

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$1,107
Property Tax -$222
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$136

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.

$299,999

PROJECTED PRICE

$1,370

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $224,999
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,600

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,399

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,3953$1,4004$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 1305 Pine Terrace Court North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.85
    •  
  • 2202 Pink Coral Drive North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 2002
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.87
    •  
  • 1904 Monte Alban North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,599 Sqft ∙ Built 1994
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 1915 Curio Drive North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,755 Sqft ∙ Built 1993
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.85
    •  
  • 1313 Misty View Court North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 1992
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Micah J Rhett
1.702.353.3319
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246490
Last Updated: 11/07/2020
BESbswy