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1691 Running Creek Drive North Las Vegas, NV 89031

5 Beds 2 Baths 2,365 sqft Built 1994

$375,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $158.56
  • 6 Days on Market
  • MLS # : 2261047
  • Updated Date : 01/17/2021 at 01:04
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,365 sqft
  • Baths : 2 full
Listing Agent

Tr Realty

Listing Agent's Description

5 BEDROOM 2 DOWN & 3 UP DEN DOWNSTAIRS COULD MAKE A 6TH BEDROOM! YOU WILL IMAGINE YOUR BELONGINGS IN WARM INVITING HOME! READY FOR THIS FRONT FORMAL LIVING ROOM, FORMAL DINNING ROOM, FAMILY ROOM DINNING RM, 3/4 BATH DOWNSTAIRS WITH 2 LARGE BEDROOM. HUGE OPEN KITCHEN REMODELED LAST YEAR NEW CABINETS, MARBLE COUNTER TOPS, STAINLESS APPLIANCES! GRANITE & QUARTZ IN BATHROOMS WITH CUSTOM TILE WORK IN SHOWERS. HUGE MAIN BEDROOM WITH WALK IN CLOSET! SMALL DOUBLE GATES ON SIDE YARD FOR YOUR TOYS GARAGE TO BACKYARD ACCESS!

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,303
Property Tax -$249
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$124

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.

$375,000

PROJECTED PRICE

$1,620

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

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$14,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6004$1,6205$1,650
$1,650
RENT COMPS ANALYSIS
  • 1691 Running Creek Drive North Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,365 Sqft ∙ Built 1994 5 beds 2 baths ∙ 2,365 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.68
    •  
  • 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
    •  
  • 1801 Running Fawn Court #na North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2001
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
PROPERTY LISTING DETAILS
Nancy A Prince-natoli
1.702.985.5412
Tr Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261047
Last Updated: 01/17/2021
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