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1777 Summer Blush Avenue Las Vegas, NV 89183

3 Beds 3 Baths 1,269 sqft Built 2007

$279,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $220.57
  • 3 Days on Market
  • MLS # : 2269989
  • Updated Date : 02/13/2021 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,269 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rustic Properties

Listing Agent's Description

Beautifully Updated Three Bedroom! Nestled within Gate Lamplight Gardens, this bright & open 2 story has been freshly painted w/new carpet! In the oversized kitchen, granite countertops and NEW stainless appliances are complemented by designer finishes and HUGE breakfast bar! IDEALLY situated near parks, shopping, dining, SCHEDULE A TOUR TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $119k305k

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

Neighborhood: Silverado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
Shirley A. Barber Elementary Primary Unknown NA
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

Shirley A. Barber Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Charles Silvestri Junior High School

  • Education Level: Middle
  • # of students: 1,748
  • # of teachers: 68
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$972
Property Tax -$175
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$42

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.

$279,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$21,911

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,412

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,3953$1,4004$1,4755$1,500
$1,500
RENT COMPS ANALYSIS
  • 1777 Summer Blush Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.07
    •  
  • 1665 Tristan Flower Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.10
    •  
  • 1703 Bamboo Rain Avenue #0 Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,269 Sqft ∙ Built 2007
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
  • 1646 Tristan Flower Avenue Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,342 Sqft ∙ Built 2007
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.10
    •  
  • 10476 Morning Sorrow Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,299 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,299 Sqft ∙ Built 2006
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Noah Bates
1.702.551.4381
Rustic Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2269989
Last Updated: 02/13/2021
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