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1367 Balsam Mist Avenue Las Vegas, NV 89183

5 Beds 3 Baths 2,259 sqft Built 2000

$360,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $159.36
  • 7 Days on Market
  • MLS # : 2262312
  • Updated Date : 01/19/2021 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,259 sqft
  • Baths : 3 full
Listing Agent

Evolve Realty

Listing Agent's Description

Beautiful home with plenty of room in Silverado Ranch. This 5 bedrooms home has wood flooring & ceramic tile throughout. There is a formal living room & dining room with a cathedral ceiling. Kitchen features granite counter tops, stainless steel appliances & an island. Spacious family room downstairs. Separate laundry room. Master bedroom with ceiling fan. Master bath includes double sinks, separate shower & tub.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Shirley A. Barber Elementary Primary Unknown NA
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

Shirley A. Barber Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,250
Property Tax -$229
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$120

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.

$360,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$34,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,7904$1,7955$1,895
$1,895
RENT COMPS ANALYSIS
  • 1367 Balsam Mist Avenue Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,259 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,259 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.79
    •  
  • 10110 Pennyroyal Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2002
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.76
    •  
  • 10077 Distant Rain Court Las Vegas, NV 2
    • 6 beds 3 baths ∙ 2,259 Sqft ∙ Built 2000 6 beds 3 baths ∙ 2,259 Sqft ∙ Built 2000
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.75
    •  
  • 1452 Echo Falls Avenue #0 Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,259 Sqft ∙ Built 2000
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.79
    •  
  • 10172 Grants Arbor Road Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,210 Sqft ∙ Built 2001
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
PROPERTY LISTING DETAILS
Ledoux Ringo Ngankou
1.702.505.3703
Evolve Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262312
Last Updated: 01/19/2021
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