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1881 Turtlerock Street Las Vegas, NV 89142

3 Beds 2 Baths 1,203 sqft Built 1989

$249,900

List Price

$1,260

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $207.73
  • 5 Days on Market
  • MLS # : 2270747
  • Updated Date : 02/20/2021 at 03:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,203 sqft
  • Baths : 2 full
Listing Agent

The Home Shop

Listing Agent's Description

Great Single Story 3 bedroom, 2 bathroom home with no HOA ready to be made into your home! Great Floorplan with Good Sized Living Room with Fireplace, and dining room. Big Kitchen with all appliances, including washer/ dryer. Large backyard Patio with a low maintenance yard. Laminate flooring in the main part of the house, tile in kitchen, and carpet in bedrooms. It could use a little TLC to make it yours.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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 F. Mendoza Elementary School Primary Regular 831 35 3
Duane Keller Middle School Middle Regular 1,257 56 NA
Las Vegas High School High Regular 3,077 121 4

John F. Mendoza Elementary School

  • Education Level: Primary
  • # of students: 831
  • # of teachers: 35
3
GreatSchools Rating

Duane Keller Middle School

  • Education Level: Middle
  • # of students: 1,257
  • # of teachers: 56
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,134$1,386$1,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,260
EXPENSES Loan Payment -$868
Property Tax -$126
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
$96

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.

$249,900

PROJECTED PRICE

$1,260

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% 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 $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$23,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,260

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,089

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1953$1,2504$1,2605$1,300
$1,300
RENT COMPS ANALYSIS
  • 1881 Turtlerock Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,260
    • $1.05
    •  
  • 5650 Sahara Avenue #2049 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2002
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.85
    •  
  • 1262 Orange Meadow Street Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,294 Sqft ∙ Built 2003
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.92
    •  
  • 6520 La Placita Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,352 Sqft ∙ Built 2004
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.92
    •  
  • 6170 East Sahara Avenue #1106 Las Vegas, NV 5
    • 3 beds 4 baths ∙ 1,396 Sqft ∙ Built 2005 3 beds 4 baths ∙ 1,396 Sqft ∙ Built 2005
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Gregory E Barkan
1.702.339.1944
The Home Shop
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270747
Last Updated: 02/20/2021
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