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1645 Sandglass Avenue North Las Vegas, NV 89032

3 Beds 2 Baths 1,615 sqft Built 2005

$289,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $178.95
  • 2 Days on Market
  • MLS # : 2244039
  • Updated Date : 11/02/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,615 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Looking for a wonderfully maintained and upgraded former model home just in time for Christmas? You've just found it! This baby sparkles with it's open kitchen, beautiful granite, stainless steel appliances, mature landscape, built-in entertainment center, serene backyard, crown molding in the den and primary bedroom, reverse osmosis system, and all appliances included! Good access to the I-15 and the home is adjacent to the community park...Welcome Home!

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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: Meridian Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Meridian Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9641603

* 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 C. Priest Elementary School Primary Regular 780 44 3
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Richard C. Priest Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 44
3
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$1,066
Property Tax -$228
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$22

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$289,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$17,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,449

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4504$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 1645 Sandglass Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 2104 Riderwood Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1994
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 1727 Watercreek Drive North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1993
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 1716 Anchor Drive North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1994
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.92
    •  
  • 1519 Bradfox Lane North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1994
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
PROPERTY LISTING DETAILS
Brandon L Bueltel
1.702.285.1528
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244039
Last Updated: 11/02/2020
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