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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $267.17
- 3 Days on Market
- MLS # : 2259542
- Updated Date : 01/10/2021 at 02:41
CONSTRUCTION
- Beds : 4
- Floor Size : 2,994 sqft
- Baths : 3 full , 1 half
Listing Agent
Milestone Realty
Listing Agent's Description
Move in and relax in a amazing fully remodeled house in Summerlin South! Remodeling completed 01/2021. Features 4 bedrooms, 3.5 bathrooms and a large 3 car garage. New cabinets, new vinyl plank flooring, new countertops, and all new lights & fans and plumbing fixtures. New kitchen with nice island all new stainless steel appliances plus quartz countertops and butler pantry. Large living & family rooms. Fireplace in the family room. Large bedrooms have new ceiling fans and lights and the 3 main bedrooms have their own bathrooms and walk in closets. 3rd bedroom is an attached casita setup with double doors to the courtyard. 4th bedroom has no closet and could also be used as an office or dining room. Has a covered patio with new BBQ grill unit. Nice pool and spa plus beautiful landscaping. Community has parks and jogging trail. Near downtown Summerlin, great restaurants and Red Rock resort. Walking distance to Faith Lutheran middle & high school.
SEE MORE
- 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: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,040 |
| EXPENSES | Loan Payment | -$2,778 |
| Property Tax | -$408 | |
| Property Insurance | -$85 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$350
|
||
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.
$799,900
PROJECTED PRICE
$3,040
PROJECTED RENT
0.38%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$217,724
LOAN DETAILS
$2,778
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $199,975 |
| Loan Amount | $599,925 |
3.58
YEARS SAVED
$25,868
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,040
LIST RENT -
$1.02
LIST RENT PER SQFT
-
$2,433
COMP ESTIMATED VALUE -
$0.81
COMP AVG. RENT PER SQFT
Comps Range
-
1800 Taylorville Street Las Vegas, NV 5
- 4 beds 4 baths ∙ 2,994 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,994 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $3,040
- $1.02
-
1804 Placid Ravine Street Las Vegas, NV 1
- 4 beds 4 baths ∙ 2,982 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,982 Sqft ∙ Built 1997
LEASED 08/03/20- Rent
- Rent Per SQFT
- $2,300
- $0.77
-
2013 Loggerhead Road Las Vegas, NV 2
- 5 beds 3 baths ∙ 3,078 Sqft ∙ Built 1990 5 beds 3 baths ∙ 3,078 Sqft ∙ Built 1990
LEASED 01/10/20- Rent
- Rent Per SQFT
- $2,395
- $0.78
-
9616 Spanish Steps Lane Las Vegas, NV 3
- 4 beds 2 baths ∙ 2,863 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,863 Sqft ∙ Built 1994
LEASED 08/04/20- Rent
- Rent Per SQFT
- $2,450
- $0.86
-
2005 Loggerhead Road Las Vegas, NV 4
- 5 beds 2 baths ∙ 3,078 Sqft ∙ Built 1990 5 beds 2 baths ∙ 3,078 Sqft ∙ Built 1990
LEASED 03/30/20- Rent
- Rent Per SQFT
- $2,600
- $0.84
PROPERTY LISTING DETAILS
1.702.466.0369
Milestone Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2259542
Last Updated: 01/10/2021
