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1605 April Shower Place Las Vegas, NV 89144

3 Beds 3 Baths 1,626 sqft Built 1999

$417,100

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $256.52
  • 4 Days on Market
  • MLS # : 2258566
  • Updated Date : 01/01/2021 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,626 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vegas Strong Real Estate Group

Listing Agent's Description

WON'T LAST!!!! IN THE HEART OF SUMMERLIN. WALKING DISTANCE TO STATON ELEMENTARY SCHOOL, PARKS, WALKING TRAILS AND MUCH MORE. SPARKLING POOL & SPA. BIG SIDE YARD. BALCONY OFF OF MASTER BEDROOM. GAS FIRE PLACE IN FAMILY ROOM

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

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
 

$375,390$458,810$417,100

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 -$1,539
Property Tax -$262
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$329

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.

$417,100

PROJECTED PRICE

$1,650

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,282

INVESTMENT

$116,282

Down Payment
$104,275
Rehab Estimate
$5,750
Closing Costs
$6,257

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,539

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,275
Loan Amount $312,825
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,569

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
  • $1.01

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 1605 April Shower Place Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,626 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 1300 Dream Bridge Drive Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,509 Sqft ∙ Built 1999 3 beds 1 baths ∙ 1,509 Sqft ∙ Built 1999
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.06
    •  
  • 1216 Anime Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 1999
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 1324 Dream Bridge Drive Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,800 Sqft ∙ Built 2001
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 1217 Anime Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1999
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
PROPERTY LISTING DETAILS
Peggy Munson
1.702.768.9615
Vegas Strong Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258566
Last Updated: 01/01/2021
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