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1451 Shadow Mountain Place Las Vegas, NV 89108

4 Beds 2 Baths 2,086 sqft Built 1972

$487,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 08, 2020 RECENTLY ADDED
FACTS
  • Built In 1972
  • Price/Sqft : $233.46
  • 4 Days on Market
  • MLS # : 2246131
  • Updated Date : 11/07/2020 at 20:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,086 sqft
  • Baths : 2 full
Listing Agent

New Home Resource

Listing Agent's Description

Beautifully well maintained single story home on an oversized lot! New air conditioner, 2 new hot water heaters, new garbage disposal, new carpet, newer roof is only 4 years old, double sided fireplace, large master, jacuzzi tub and separate shower in master bath, larger secondary bedrooms with ceiling fans and mirrored closet doors. Large covered back patio with electric misters. Sparkling oversized pool with deep end complete with diving board! Solar screens, nice size shed, mature trees and an RV gate. Garage has been converted to an extra living area (swamp cooler to keep it nice and cool!) and can easily be converted back into a 2-car garage. Quiet neighborhood. Kitchen curtains and kitchen fridge do not convey. Some items of furniture can be sold outside of escrow.

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

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
Robert O. Gibson Middle School Middle Magnet 1,293 57 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

Robert O. Gibson Middle School

  • Education Level: Middle
  • # of students: 1,293
  • # of teachers: 57
NA
GreatSchools Rating

Western High School

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

$438,300$535,700$487,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,797
Property Tax -$154
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$627

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.

$487,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
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$1.6M$1.8M

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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,805

INVESTMENT

$134,805

Down Payment
$121,750
Rehab Estimate
$5,750
Closing Costs
$7,305

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,797

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,750
Loan Amount $365,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,591

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,5104$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 1451 Shadow Mountain Place Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 1972 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 1972
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.72
    •  
  • 6360 Mint Frost Way #- Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,902 Sqft ∙ Built 1990
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.73
    •  
  • 6100 Castle Bay Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1987
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 6313 Mandarin Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,037 Sqft ∙ Built 1990
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 1316 Winwood Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,186 Sqft ∙ Built 1964
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kathy Paterniti
1.702.553.7342
New Home Resource
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246131
Last Updated: 11/07/2020
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