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1370 Lime Point Street Las Vegas, NV 89110

5 Beds 3 Baths 2,968 sqft Built 1995

$499,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $168.43
  • 3 Days on Market
  • MLS # : 2253656
  • Updated Date : 12/04/2020 at 20:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,968 sqft
  • Baths : 2 full , 1 half
Listing Agent

Evolve Realty

Listing Agent's Description

Former Model Home For community, "NO HOA" Big Formal Living Room & Dining Rooms* Large Family Room off the Kitchen* Large kitchen with Quartz counters & tons of Cabinetry, Breakfast Bar* Marble & Travertine flooring thought first second floors. Plantation Shutters T/O Main level & in bedrooms* Master BR on main level* 3rd Garage converted, by builder 350 Extra square feet bedroom or into separate Den/Office* Check out the room sizes* Roomy Corner Pool Size Lot with RV/Boat Parking & Covered Patio*Located in a highly desirable neighborhood, close to parks, schools and shopping! This home will go fast!! Make it yours today! NO RENTAL RESTRICTIONS.

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Eileen Brookman Elementary School Primary Regular 753 35 5
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Eldorado High School High Regular 1,920 76 1

Eileen Brookman Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 35
5
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Eldorado High School

  • Education Level: High
  • # of students: 1,920
  • # of teachers: 76
1
GreatSchools Rating
 

$449,910$549,890$499,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,844
Property Tax -$249
Property Insurance -$85
Property Management Fees -$119
CASH FLOW
-$647

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.

$499,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,224

INVESTMENT

$138,224

Down Payment
$124,975
Rehab Estimate
$5,750
Closing Costs
$7,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,975
Loan Amount $374,925
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,7254$1,995
$1,995
RENT COMPS ANALYSIS
  • 1370 Lime Point Street Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,968 Sqft ∙ Built 1995 5 beds 3 baths ∙ 2,968 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.56
    •  
  • 7205 Madonna Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 2008
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.58
    •  
  • 6247 Gentle Waters Court Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,876 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.60
    •  
  • 1535 Deerford Circle Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,166 Sqft ∙ Built 1996
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.63
    •  
PROPERTY LISTING DETAILS
Justin M Goodman
1.702.353.9292
Evolve Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253656
Last Updated: 12/04/2020
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