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1709 Monte Rio Las Vegas, NV 89128

4 Beds 2 Baths 2,383 sqft Built 1994

$495,000

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $207.72
  • 7 Days on Market
  • MLS # : 2257082
  • Updated Date : 12/24/2020 at 10:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,383 sqft
  • Baths : 2 full
Listing Agent

Re/max Reliance

Listing Agent's Description

This Summerlin beauty is located in a gated community, on a cul-de-sac and has a pool sized lot. The Master Bedroom is downstairs and the Master Bath features a large soaking tub,walk in shower and walk in closet. Enjoy the tile flooring throughout the living, dining and family room. The kitchen has granite counter tops and plenty of upgraded cabinets. This home is located near great shopping, restaurants and convenient freeway access.

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: 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$1,826
Property Tax -$293
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$102

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.

$495,000

PROJECTED PRICE

$2,210

PROJECTED RENT

0.45%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$29,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,186

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,1354$2,2005$2,210
$2,210
RENT COMPS ANALYSIS
  • 1709 Monte Rio Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,383 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,383 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.93
    •  
  • 8528 Sierra Cima Lane Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 1620 Plata Pico Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1994
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 8412 Willow Point Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1995
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,135
    • $0.95
    •  
  • 8333 Sedona Sunrise Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,401 Sqft ∙ Built 1995
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Diane M Sadowitz
1.702.496.8007
Re/max Reliance
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257082
Last Updated: 12/24/2020
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