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1872 Shy Albatross Avenue North Las Vegas, NV 89084

3 Beds 3 Baths 3,149 sqft Built 2006

$450,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $142.90
  • 4 Days on Market
  • MLS # : 2279747
  • Updated Date : 03/20/2021 at 23:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,149 sqft
  • Baths : 2 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Bring your buyer quickly, this home will not last! Downstairs has a built-in office as well as a den that could be your 4th bedroom. Oversized primary room with walk-in closet. A large upstairs loft makes a great play area. Top-of-the-line Kinetico water softer. Low maintenance desert landscaping, heated pool with no backyard neighbors! All SS appliances in the kitchen. Located within the Aliante Master planned community, just minutes from Aliante Nature Discovery Park. Close to shopping and the 215!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: San Destin Palazzo at Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $110k536k

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

Neighborhood: San Destin Palazzo at Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9672378

* 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
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$405,000$495,000$450,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,563
Property Tax -$371
Property Insurance -$88
Property Management Fees -$119
CASH FLOW
$119

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.

$450,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.4%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,000

INVESTMENT

$125,000

Down Payment
$112,500
Rehab Estimate
$5,750
Closing Costs
$6,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,500
Loan Amount $337,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$39,909

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0853$2,2604$2,2855$2,495
$2,495
RENT COMPS ANALYSIS
  • 1872 Shy Albatross Avenue North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 3,149 Sqft ∙ Built 2006 3 beds 3 baths ∙ 3,149 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.72
    •  
  • 812 Great Sky Court North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 2017
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 3248 Perching Bird North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,799 Sqft ∙ Built 2006
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,085
    • $0.74
    •  
  • 6437 Diamond Point Court North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,092 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,092 Sqft ∙ Built 2005
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,285
    • $0.74
    •  
  • 6512 Claystone Creek Court North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,233 Sqft ∙ Built 2015 4 beds 2 baths ∙ 3,233 Sqft ∙ Built 2015
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.77
    •  
PROPERTY LISTING DETAILS
Benjamin Barnhart
1.702.340.8499
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279747
Last Updated: 03/20/2021
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