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1612 Sand Canyon Drive Las Vegas, NV 89128

4 Beds 3 Baths 2,317 sqft Built 1994

$399,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $172.21
  • 3 Days on Market
  • MLS # : 2280235
  • Updated Date : 03/20/2021 at 16:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,317 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Advantage

Listing Agent's Description

4 BEDROOM SUMMERLIN HOME! NEWER CARPET & PAINT*VAULTED CEILINGS, FORMAL LIVING/DINING ROOM, LARGE KITCHEN WITH BREAKFAST BAR OPENS TO FAMILY ROOM WITH COZY FIREPLACE, DOWNSTAIRS TILED, ALL BEDROOMS UPSTAIRS WITH MASTER SUITE SEPARATE, HUGE BACKYARD, LANDSCAPING FRONT AND BACK.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$359,100$438,900$399,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,386
Property Tax -$235
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
$148

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.

$399,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.49%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$39,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,126

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9603$2,0004$2,1005$2,135
$2,135
RENT COMPS ANALYSIS
  • 1612 Sand Canyon Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.85
    •  
  • 1624 Desert Canyon Court Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1994
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 1620 Plata Pico Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 8241 Ruby Mountain Way Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,291 Sqft ∙ Built 1995 5 beds 2 baths ∙ 2,291 Sqft ∙ Built 1995
    property image
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 8412 Willow Point Court Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1995
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sandra L Thomas
1.702.480.9918
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280235
Last Updated: 03/20/2021
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