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1642 Running Creek Drive North Las Vegas, NV 89031

4 Beds 3 Baths 2,328 sqft Built 1993

$399,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $171.78
  • 3 Days on Market
  • MLS # : 2255161
  • Updated Date : 12/11/2020 at 16:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,328 sqft
  • Baths : 3 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Stunning remodel! Step inside to SOARING ceilings with open space and natural lighting! 4 bedrooms with one downstairs and HUGE great room upstairs! 3 car garage with RV or BOAT parking to the side! Soak in the sun in the cyrstal clear POOL in the backyard! Kitchen outfitted with QUARTZ countertops and BRAND NEW SS appliances! Must see today!

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: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $110k347k

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

Neighborhood: El Dorado

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Lee Antonello Elementary School Primary Regular 654 36 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Lee Antonello Elementary School

  • Education Level: Primary
  • # of students: 654
  • # of teachers: 36
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,475
Property Tax -$264
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$211

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.

$399,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.43%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$13,251

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6004$1,6255$1,720
$1,720
RENT COMPS ANALYSIS
  • 1642 Running Creek Drive North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.74
    •  
  • 5630 Farpoint Road #0 North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 1990
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.64
    •  
  • 5734 Bear Springs Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2002
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.69
    •  
  • 1838 Fighting Falcon Lane North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2002
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.67
    •  
  • 5535 Jett Canyon Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2013
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.73
    •  
PROPERTY LISTING DETAILS
Andrew J Grasso
1.702.400.4782
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255161
Last Updated: 12/11/2020
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