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PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $198.90
- 3 Days on Market
- MLS # : 2256728
- Updated Date : 12/18/2020 at 18:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,810 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty Sw
Listing Agent's Description
Roomy 2 story home nestled in to a charming cul-de-sac. This home features large rooms, upgraded wood floors, new carpet, an upgraded kitchen with tile, stainless appliances. Located in the guard gated golf community Rhodes Ranch. The community is loaded with amenities.
SEE MORE
- 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)
- As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$1,328 |
| Property Tax | -$239 | |
| Property Insurance | -$62 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$88
|
||
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.
$360,000
PROJECTED PRICE
$1,660
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$101,150
LOAN DETAILS
$1,328
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $90,000 |
| Loan Amount | $270,000 |
4.58
YEARS SAVED
$20,006
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$0.92
LIST RENT PER SQFT
-
$1,724
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
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163 Hickory Heights Avenue Las Vegas, NV 2
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186 Duck Hollow Avenue #0 Las Vegas, NV 1
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LEASED 10/15/20- Rent
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- $1,600
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127 Colonial Springs Court Las Vegas, NV 3
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- $1,750
- $1.00
-
10 Dryden Park Avenue Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,897 Sqft ∙ Built 2001
LEASED 03/30/20- Rent
- Rent Per SQFT
- $1,750
- $0.92
-
181 Hickory Heights Avenue Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2003
LEASED 07/27/20- Rent
- Rent Per SQFT
- $1,750
- $0.97
PROPERTY LISTING DETAILS
1.702.419.4200
Keller Williams Realty Sw
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256728
Last Updated: 12/18/2020
