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1701 Plata Pico Drive Las Vegas, NV 89128

2 Beds 2 Baths 1,841 sqft Built 1994

$319,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $173.28
  • 2 Days on Market
  • MLS # : 2243602
  • Updated Date : 11/02/2020 at 15:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,841 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

Charming 2 bedroom home located in Summerlin with both bedrooms on the first level. Primary bedroom overlooks the lushly-landscaped backyard and features a walk-in closet, double sinks, a separate garden tub, and a walk-in shower. Huge loft with walk-in closet on the second floor has been used as a 3rd bedroom. Vaulted ceilings and gas fireplace in the living room. Kitchen includes built-in microwave oven, refrigerator, and breakfast bar. Indoor laundry room includes washer, dryer, and storage cabinets. The covered patio and mature landscaping in the backyard provide nice shade. Easy-maintenance rock landscaping in both the front and backyards. Neutral colors throughout. Tile downstairs and carpet upstairs.

SEE MORE

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: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k316k

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

Neighborhood: The Pueblo

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761921

* 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 H Bryan Elementary School Primary Regular 617 32 8
Ernest Becker Middle School Middle Regular 1,392 56 NA
Cimarron Memorial High School High Regular 2,541 102 3

Richard H Bryan Elementary School

  • Education Level: Primary
  • # of students: 617
  • # of teachers: 32
8
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$287,100$350,900$319,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,177
Property Tax -$210
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$132

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.

$319,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.53%

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$0.0$5.0k$10k$15k$20k

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$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

8.08

YEARS SAVED

$39,243

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,970

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$1,8005$1,995
$1,995
RENT COMPS ANALYSIS
  • 1701 Plata Pico Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,841 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1616 Plata Pico Drive Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1994
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 8525 Danza Del Sol Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,536 Sqft ∙ Built 1995
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 8748 Sundial Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1990
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
  • 8516 Arco Iris Lane Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,841 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,841 Sqft ∙ Built 1995
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.08
    •  
PROPERTY LISTING DETAILS
Traci A Human
1.702.217.2280
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243602
Last Updated: 11/02/2020
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