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1729 Mexican Poppy Street Las Vegas, NV 89128

3 Beds 2 Baths 2,236 sqft Built 1994

$374,999

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $167.71
  • 3 Days on Market
  • MLS # : 2243063
  • Updated Date : 11/13/2020 at 18:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,236 sqft
  • Baths : 1 full , 1 half
Listing Agent

Premier Realty Group

Listing Agent's Description

GORGEOUS HOME located in Summerlin, near freeway access and shopping! This clean and move in ready home features 3 VERY LARGE bedrooms and a 3 car garage. The Primary Bedroom is completely separate from the others and includes a walk in closet, primary bathroom has a shower only, custom designed with full body sprayers!. Tile downstairs, carpeting upstairs. Carpeting and tile installed just 2 yrs ago. The backyard is gorgeous with real grass and a beautiful patio. NO SID, NO LID! Low HOA Dues! MUST SEE!!

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: 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
 

$337,499$412,499$374,999

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,384
Property Tax -$237
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
-$80

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.

$374,999

PROJECTED PRICE

$1,730

PROJECTED RENT

0.46%

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

PROJECTED ANNUAL CASH FLOW

11530$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 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,249
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$22,034

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,9153$1,9504$1,9955$2,150
$2,150
RENT COMPS ANALYSIS
  • 1729 Mexican Poppy Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.77
    •  
  • 8112 Painted Clay Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,420 Sqft ∙ Built 1997
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.79
    •  
  • 1624 Desert Canyon Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,162 Sqft ∙ Built 1994
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 1724 Mexican Poppy Street Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 1725 Mexican Poppy Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,406 Sqft ∙ Built 1994
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
PROPERTY LISTING DETAILS
Shana L Reese
1.702.528.0180
Premier Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243063
Last Updated: 11/13/2020
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