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

1315 Hill Spring Court North Las Vegas, NV 89031

4 Beds 3 Baths 2,220 sqft Built 1992

$325,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $146.40
  • 5 Days on Market
  • MLS # : 2267863
  • Updated Date : 02/11/2021 at 17:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,220 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elite Realty

Listing Agent's Description

Gorgeous 2 Story North Las Vegas Gem! 2,220 Square Feet! 5,700 Sq. Ft. Lot! Nice Yard & Covered Patio! 4 Beds! 3 Baths! Spacious Living Room! Dining Room! Beautiful Family Room! Custom Gourmet Kitchen! 2 Fireplaces! Beautiful Wood Flooring & Tile Downstairs! Carpeting Up! Fresh Interior Paint! Priced To Sell! Call Stephen Johns/Elite Realty For Details & Showing By Appointment Only! 2 Hour Notice Please! Covid Protocols Strictly Observed! Masks! Booties! Sanitizer!

SEE MORE

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: 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,129
Property Tax -$224
Property Insurance -$70
Property Management Fees -$119
CASH FLOW
$158

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.

$325,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$32,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,709

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7004$1,7455$1,749
$1,749
RENT COMPS ANALYSIS
  • 1315 Hill Spring Court North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 1612 Los Alamos North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1992
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.78
    •  
  • 1857 Arch Stone Avenue North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 2005
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 1600 Glenrosa North Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,242 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,242 Sqft ∙ Built 1993
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.78
    •  
  • 917 Vegas Palm Avenue North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2008
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.79
    •  
PROPERTY LISTING DETAILS
Stephen F Johns
1.702.824.2344
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2267863
Last Updated: 02/11/2021
BESbswy