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1404 Canyon Rose Way Las Vegas, NV 89108

3 Beds 2 Baths 1,368 sqft Built 1989

INVESTimate

$264,500

List Price

$1,260

$1,134 - $1,386

Rent Est.

$295,552  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $193.35
  • 7 Days on Market
  • MLS # : 2223446
  • Updated Date : 08/22/2020 at 11:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,368 sqft
  • Baths : 1 full , 1 half
Listing Agent

Nexthome Community Real Estate

Listing Agent's Description

Welcome home to this CHARMING 2 story home on a LARGE LOT!!! So many great rooms for entertaining... Formal living room AND formal dining room!!! Wood-look floors throughout. Save energy AND money with solar lease in place. ALL appliances stay ~WASHER/DRYER/FRIDGE~ The kitchen boasts french doors that lead you to LARGE backyard with covered patio. Come check this one out TODAY!!! It won't last long!!

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Paul E. Culley Elementary School Primary Regular 895 38 2
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Paul E. Culley Elementary School

  • Education Level: Primary
  • # of students: 895
  • # of teachers: 38
2
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$238,050$290,950$264,500

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$976
Property Tax -$151
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$39

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.

$264,500

PROJECTED PRICE

$1,260

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,843

INVESTMENT

$75,843

Down Payment
$66,125
Rehab Estimate
$5,750
Closing Costs
$3,968

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$976

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,125
Loan Amount $198,375
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$15,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,276

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2603$1,3004$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 1404 Canyon Rose Way Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $0.92
    •  
  • 1104 Greystone Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,373 Sqft ∙ Built 1985 3 beds 1 baths ∙ 1,373 Sqft ∙ Built 1985
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 1212 Coral Isle Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1989
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 6536 Burlwood Way Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,368 Sqft ∙ Built 1990
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.95
    •  
  • 1917 Bookbinder Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 1992
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
PROPERTY LISTING DETAILS
Falisha Rexford
1.702.236.4249
Nexthome Community Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223446
Last Updated: 08/22/2020
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