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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $236.74
- 7 Days on Market
- MLS # : 2274753
- Updated Date : 03/06/2021 at 14:51
CONSTRUCTION
- Beds : 3
- Floor Size : 2,112 sqft
- Baths : 3 full
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
Location, Location, Location and a terrific home! This home is located across from Downtown Summerlin and the Las Vegas Ballpark with its shops, dining, baseball games and events...approximately a 15-20 min walk! The Summerlin Centre Community Park sits just to the west of the community and the Village Green Park to the North. This one story home greats you with a fabulous round foyer with designer tile inlay. The Kitchen is open for entertaining with a great breakfast bar and gorgeous granite counters. There is a formal dining room, formal living room and a family room with a fireplace to cozy around. The backyard is generous with a covered patio, additional extended patio and just a touch of grass for the pets! Each bedroom has its own bath. The Primary Bath has a separate tub and shower. This William Lyon home will not disappoint.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,040 |
| EXPENSES | Loan Payment | -$1,737 |
| Property Tax | -$291 | |
| Property Insurance | -$68 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$175
|
||
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.
$500,000
PROJECTED PRICE
$2,040
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$138,250
LOAN DETAILS
$1,737
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $125,000 |
| Loan Amount | $375,000 |
4.08
YEARS SAVED
$19,199
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,040
LIST RENT -
$0.97
LIST RENT PER SQFT
-
$2,038
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 03/27/20- Rent
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LEASED 07/03/20- Rent
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- $1,850
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LEASED 06/17/20- Rent
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- $1,950
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![property image]()
LEASED 10/15/20- Rent
- Rent Per SQFT
- $2,100
- $0.99
PROPERTY LISTING DETAILS
1.702.371.4131
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2274753
Last Updated: 03/06/2021
