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1704 Silver Oaks Street Las Vegas, NV 89117

4 Beds 4 Baths 4,794 sqft Built 1992

$1,150,000

List Price

$5,050

$4.8K - $5.3K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $239.88
  • 5 Days on Market
  • MLS # : 2244654
  • Updated Date : 11/04/2020 at 07:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,794 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Stunning single story custom in Guard Gated Ten Oaks Estates!! Beautiful seamless glass windows complements the large open floorplan and showcases the gorgeous outdoor space. Chef’s kitchen boasts custom cabinets, large island, breakfast bar, S/S appliances, large fridge/freezer and walk-in pantry. Entertain in your sunken living room with fireplace and wet bar. Relax at the end of the day in your expansive family room open to the dining area and kitchen. Retreat to your private bedroom with spa-like bath that includes a two-way fireplace. Dream backyard with pool, spa, firepit gathering area, built-in bbq, custom lighting, outdoor speakers, mature landscaping and large grass area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$1,035,000$1,265,000$1,150,000

PURCHASE PRICE

$4,545$5,555$5,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $5,050
EXPENSES Loan Payment -$4,243
Property Tax -$759
Property Insurance -$120
Property Management Fees -$119
CASH FLOW
-$191

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.

$1,150,000

PROJECTED PRICE

$5,050

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$310,500

INVESTMENT

$310,500

Down Payment
$287,500
Rehab Estimate
$5,750
Closing Costs
$17,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$4,243

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $287,500
Loan Amount $862,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$71,346

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $5,050

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $4,866

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$4,300
1$4,3002$4,5003$5,0504$5,1005$5,300
$5,300
RENT COMPS ANALYSIS
  • 1704 Silver Oaks Street Las Vegas, NV 3
    • 4 beds 4 baths ∙ 4,794 Sqft ∙ Built 1992 4 beds 4 baths ∙ 4,794 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $5,050
    • $1.05
    •  
  • 2290 Casa Bella Court Las Vegas, NV 1
    • 4 beds 5 baths ∙ 4,482 Sqft ∙ Built 2003 4 beds 5 baths ∙ 4,482 Sqft ∙ Built 2003
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,300
    • $0.96
    •  
  • 1870 Columbia Crest Court Las Vegas, NV 2
    • 5 beds 3 baths ∙ 4,609 Sqft ∙ Built 1999 5 beds 3 baths ∙ 4,609 Sqft ∙ Built 1999
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $0.98
    •  
  • 1680 City View Court Las Vegas, NV 4
    • 4 beds 6 baths ∙ 4,863 Sqft ∙ Built 1993 4 beds 6 baths ∙ 4,863 Sqft ∙ Built 1993
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,100
    • $1.05
    •  
  • 1710 Songlight Las Vegas, NV 5
    • 4 beds 5 baths ∙ 4,963 Sqft ∙ Built 2004 4 beds 5 baths ∙ 4,963 Sqft ∙ Built 2004
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $5,300
    • $1.07
    •  
PROPERTY LISTING DETAILS
Carla Redmond
1.702.683.1708
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244654
Last Updated: 11/04/2020
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