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1841 Luna Alegre Street Las Vegas, NV 89115

3 Beds 2 Baths 1,276 sqft Built 2007

$249,950

List Price

$1,120

$1K - $1.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $195.89
  • 5 Days on Market
  • MLS # : 2264663
  • Updated Date : 01/28/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 1 full , 1 half
Listing Agent

Keller Williams Realty Southwe

Listing Agent's Description

Beautiful Newly Remodeled Two Story Home In Quiet Neighborhood! Tile Floors Through Out Entire Main Level! Brand New Extra Deep Stainless Steel Kitchen Sink and Faucet! Pool Size Manicured Backyard with Mature Palm Trees! Entire Upper Level Has Brand New Carpet! Huge Master Bedroom With Dual Walk In Closets! Fresh Interior Paint in Entire Home! Upstairs Laundry Room Near All 3 Bedrooms! New Window Coverings! THIS ONE IS A MUST SEE!

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: Stonybrook Homes - la Paz Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $79k296k

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

Neighborhood: Stonybrook Homes - la Paz Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8841603

* 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
Manuele J. Cortez Elementary School Primary Regular 871 44 4
Mario C And Joanne Monaco Middle School Middle Regular 1,426 53 NA
Desert Pines High School High Regular 2,279 99 1

Manuele J. Cortez Elementary School

  • Education Level: Primary
  • # of students: 871
  • # of teachers: 44
4
GreatSchools Rating

Mario C And Joanne Monaco Middle School

  • Education Level: Middle
  • # of students: 1,426
  • # of teachers: 53
NA
GreatSchools Rating

Desert Pines High School

  • Education Level: High
  • # of students: 2,279
  • # of teachers: 99
1
GreatSchools Rating
 

$224,955$274,945$249,950

PURCHASE PRICE

$1,008$1,232$1,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,120
EXPENSES Loan Payment -$868
Property Tax -$157
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$76

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$249,950

PROJECTED PRICE

$1,120

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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

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$71,987

INVESTMENT

$71,987

Down Payment
$62,488
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,488
Loan Amount $187,463
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$8,847

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,120

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,126

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,120
1$1,1202$1,1753$1,1954$1,2505$1,300
$1,300
RENT COMPS ANALYSIS
  • 1841 Luna Alegre Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,120
    • $0.88
    •  
  • 4312 Wyndham Street Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 2002
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,175
    • $0.87
    •  
  • 1825 Luna Alegre Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,346 Sqft ∙ Built 2007
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.89
    •  
  • 3710 Spiritual Way Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,370 Sqft ∙ Built 2006
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 1829 Luna Alegre Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,509 Sqft ∙ Built 2007
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jonathan Schussler
1.702.335.8740
Keller Williams Realty Southwe
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264663
Last Updated: 01/28/2021
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