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PROPERTY INFO
FACTS
- Single Family
- Built In 1965
- Price/Sqft : $210.03
- 2 Days on Market
- MLS # : 2271332
- Updated Date : 02/21/2021 at 02:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,904 sqft
- Baths : 2 full
Listing Agent
Century 21 Americana
Listing Agent's Description
Amazing 3 bedroom 2 bath home! Plenty of parking space with an RV gate in the front driveway to the backyard! Completely remodeled, ceiling fans throughout home. Primary bedroom closet with extra storage. Beautiful primary shower with lots of space with jack and Jill sink! Living room with a fireplace. Kitchen with a breakfast bar! Stove, dishwasher and wine fridge! LOT of cabinet and shelves!! Spacious backyard with a covered patio. Near lots of shopping and 10 minutes from Downtown/strip area! DO NOT MISS OUT!
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: Paradise Palms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paradise Palms
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,580 |
| EXPENSES | Loan Payment | -$1,389 |
| Property Tax | -$113 | |
| Property Insurance | -$64 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$106
|
||
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.
$399,900
PROJECTED PRICE
$1,580
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 10.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| 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
$111,724
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $99,975 |
| Loan Amount | $299,925 |
4.42
YEARS SAVED
$16,600
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,580
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,742
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
1697 Sombrero Drive Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1965
- Rent
- Rent Per SQFT
- $1,580
- $0.83
-
1553 Silver Mesa Way Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1964
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,550
- $0.87
-
2489 Palmera Drive Las Vegas, NV 3
- 3 beds 1 baths ∙ 1,720 Sqft ∙ Built 1975 3 beds 1 baths ∙ 1,720 Sqft ∙ Built 1975
LEASED 11/01/20- Rent
- Rent Per SQFT
- $1,650
- $0.96
-
1552 Pawnee Drive Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 1963
LEASED 11/02/20- Rent
- Rent Per SQFT
- $1,800
- $0.93
-
1125 Vegas Valley Drive Las Vegas, NV 5
- 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1970 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1970
LEASED 12/06/20- Rent
- Rent Per SQFT
- $1,850
- $0.90
PROPERTY LISTING DETAILS
1.702.706.3937
Century 21 Americana
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271332
Last Updated: 02/21/2021
