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180 Wellspring Avenue Las Vegas, NV 89183

4 Beds 4 Baths 3,460 sqft Built 2007

$725,000

List Price

$3,320

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $209.54
  • 11 Days on Market
  • MLS # : 2252054
  • Updated Date : 12/10/2020 at 13:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,460 sqft
  • Baths : 3 full , 1 half
Listing Agent

Winning Realty

Listing Agent's Description

Breathtaking custom one story home on 1/3 acre. Grand courtyard entry with pebble stone floor. This home is highly upgraded throughout. Elegant dark wood flooring. Custom gourmet kitchen with imported granite, sitting bar, butlers pantry, and all high end appliances stay at full list. Plantation shutters through entire home and bonus 4 car tandem garage. Four large bedrooms, with 4th bedroom having its own private entrance. The primary suite has french doors leading out to your backyard oasis with strip view. Primary bathroom has a Roman tub and step in resort style shower. Enjoy your glorious heated pebble tech pool with your very own waterfall. New pump and salt water equipment. Private vegetable garden with irrigation. Covered patio so you can enjoy your yard year round. MLS estimated value of $731k-$789k You will not be disappointed with this gorgeous home! Come home to your own castle today. Please wear provided shoe covers. Ask your agent for the 3D tour to view 24/7

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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: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
John R. Hummel Elementary School Primary Regular 776 40 7
Charles Silvestri Junior High School Middle Regular 1,748 68 NA
Liberty High School High Regular 2,496 105 5

John R. Hummel Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 40
7
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
 

$652,500$797,500$725,000

PURCHASE PRICE

$2,988$3,652$3,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,320
EXPENSES Loan Payment -$2,675
Property Tax -$582
Property Insurance -$94
Property Management Fees -$119
CASH FLOW
-$150

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.

$725,000

PROJECTED PRICE

$3,320

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,875

INVESTMENT

$197,875

Down Payment
$181,250
Rehab Estimate
$5,750
Closing Costs
$10,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,675

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $181,250
Loan Amount $543,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$42,355

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,320

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,924

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,9993$3,0504$3,2505$3,320
$3,320
RENT COMPS ANALYSIS
  • 180 Wellspring Avenue Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,460 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,460 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,320
    • $0.96
    •  
  • 654 Mystic Cliffs Avenue #0 Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,210 Sqft ∙ Built 2004 5 beds 3 baths ∙ 3,210 Sqft ∙ Built 2004
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.78
    •  
  • 9739 La Cienega Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,560 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,560 Sqft ∙ Built 1998
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $0.84
    •  
  • 296 Great Duke Avenue Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,459 Sqft ∙ Built 1999
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,050
    • $0.88
    •  
  • 10144 Neville Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,699 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,699 Sqft ∙ Built 2002
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.88
    •  
PROPERTY LISTING DETAILS
Khristi Hutto
1.702.328.7777
Winning Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2252054
Last Updated: 12/10/2020
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