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1516 Pacific Terrace Drive Las Vegas, NV 89128

4 Beds 3 Baths 2,096 sqft Built 1990

$329,500

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $157.20
  • 5 Days on Market
  • MLS # : 2246786
  • Updated Date : 11/11/2020 at 20:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,096 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rebco

Listing Agent's Description

Nice 4 bedroom home. No association. 2 1/2 bath, 2 story, 2 car garage, living room, family room, nook area, kitchen granite counter top, tile flooring, laminate wood flooring, dual air conditioning.

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: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Pioneer Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9551606

* 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
Edythe And Lloyd Katz Elementary School Primary Regular 711 36 4
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Edythe And Lloyd Katz Elementary School

  • Education Level: Primary
  • # of students: 711
  • # of teachers: 36
4
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$296,550$362,450$329,500

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,216
Property Tax -$197
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
$101

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.

$329,500

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.5%
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$93,068

INVESTMENT

$93,068

Down Payment
$82,375
Rehab Estimate
$5,750
Closing Costs
$4,943

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,375
Loan Amount $247,125
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$37,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,729

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7004$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 1516 Pacific Terrace Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 1801 Klamath Falls Way Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,194 Sqft ∙ Built 1993
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 204 Persimmon Court Las Vegas, NV 2
    • 4 beds 1 baths ∙ 2,103 Sqft ∙ Built 1987 4 beds 1 baths ∙ 2,103 Sqft ∙ Built 1987
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 7408 Sunspot Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,045 Sqft ∙ Built 1993
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 1625 Olive Palm Circle Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,183 Sqft ∙ Built 1989
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
PROPERTY LISTING DETAILS
Guillermo Rangel
1.702.750.7400
Rebco
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246786
Last Updated: 11/11/2020
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