Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1608 Plata Pico Drive Las Vegas, NV 89128

3 Beds 2 Baths 1,536 sqft Built 1994

$315,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $205.08
  • 4 Days on Market
  • MLS # : 2244488
  • Updated Date : 11/07/2020 at 12:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,536 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Delightful single story at the end of a cul-de-sac in the heart of Summerlin. Fantastic location near great schools, churches, parks and green belt. This home has been lovingly cared for and recently updated. Great open floorplan with lots of natural light. Neutural finishes and a secluded yard.

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 Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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
Richard H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,162
Property Tax -$208
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$106

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.

$315,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$15,255

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,521

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3953$1,4004$1,4405$1,500
$1,500
RENT COMPS ANALYSIS
  • 1608 Plata Pico Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.94
    •  
  • 1505 Couples Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1998
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.98
    •  
  • 1512 Faldo Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 1998
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.00
    •  
  • 8422 Elkington Avenue #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,400 Sqft ∙ Built 2002
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 8521 Danza Del Sol Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1995
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Megan Whittekiend
1.702.533.0181
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244488
Last Updated: 11/07/2020
BESbswy