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1509 Reisling Court Las Vegas, NV 89144

4 Beds 4 Baths 3,398 sqft Built 2001

$1,250,000

List Price

$3,990

$3.7K - $4.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $367.86
  • 10 Days on Market
  • MLS # : 2244653
  • Updated Date : 11/12/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,398 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

This unique home on an almost half-acre lot in The Vineyards area of Summerlin is as fresh and refreshing as the street on which it's located. Delightfully understated interior spaces open to a soul-soothing exterior featuring multiple covered and open-air seating areas. A manicured lawn radiates off the sparkling pool deck, providing a sea of green. There is even a comfortable outdoor den complete with fireplace, and a shaded dining space near the built-in grilling station. The home's master suite opens directly to the outdoors and is complemented by an opulent spa bathroom and dual walk-in closets. Two additional bedrooms share a full bath, and a convenient powder room serves guests. The kitchen, with gleaming stainless steel appliances, dramatic black cabinetry and grey-veined solid surface counters is a chef's dream. The family room boasts a sleek fireplace wall as well as a bar counter, and a separate den/library serves as a family retreat.

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: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$1,125,000$1,375,000$1,250,000

PURCHASE PRICE

$3,591$4,389$3,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,990
EXPENSES Loan Payment -$4,612
Property Tax -$751
Property Insurance -$93
Property Management Fees -$119
CASH FLOW
-$1,585

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.

$1,250,000

PROJECTED PRICE

$3,990

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$20k-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$337,000

INVESTMENT

$337,000

Down Payment
$312,500
Rehab Estimate
$5,750
Closing Costs
$18,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,612

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $312,500
Loan Amount $937,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,998

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,990

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $3,075

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6753$2,8954$3,9905$3,995
$3,995
RENT COMPS ANALYSIS
  • 1509 Reisling Court Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,398 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,398 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $3,990
    • $1.17
    •  
  • 10400 Falls Church Avenue Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 1998
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.81
    •  
  • 1208 Ventura Hills Street #x Las Vegas, NV 2
    • 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,229 Sqft ∙ Built 1998
    LEASED 10/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.83
    •  
  • 11028 Pine Knolls Court Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,169 Sqft ∙ Built 2001
    LEASED 07/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.91
    •  
  • 1528 Pine Leaf Drive Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2001
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ivan G Sher
1.702.315.0223
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244653
Last Updated: 11/12/2020
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