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1929 Sondrio Drive Las Vegas, NV 89134

4 Beds 3 Baths 2,095 sqft Built 1997

$399,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $190.88
  • 10 Days on Market
  • MLS # : 2268168
  • Updated Date : 02/13/2021 at 18:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,095 sqft
  • Baths : 2 full , 1 half
Listing Agent

Windermere Prestige Properties

Listing Agent's Description

Absolutely stunning remodeled home in Summerlin! Featuring brand new modern-farmhouse kitchen with white soft-close cabinets and drawers, new hardware, subway tile backsplash, stainless steel appliances, island with quartz waterfall countertops, pendant lighting above island, new dining room chandelier, brand new wood laminate flooring throughout downstairs, highly upgraded half bath with porcelain hexagon tile flooring & vessel sink, laundry room downstairs with matching porcelain hexagon tile flooring, gas fireplace in family room, upstairs features four bedrooms, master bath with dual sinks, separate tub and shower, great size backyard featuring covered patio & grass landscape, HVAC replaced in 2019, Ring doorbell and alarm system included. Located in desirable Summerlin near highly rated schools and some of the best parks and trails in the valley! A MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k408k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761992

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$359,910$439,890$399,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,389
Property Tax -$246
Property Insurance -$68
Property Management Fees -$119
CASH FLOW
-$122

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.

$399,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,658

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,802

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8504$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1929 Sondrio Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 1908 Verbania Drive Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1999
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 1913 Verbania Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 1999
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 1921 Verbania Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 2,276 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,276 Sqft ∙ Built 1999
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.83
    •  
  • 2033 Nightrider Drive #- Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,188 Sqft ∙ Built 1997
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
PROPERTY LISTING DETAILS
Shyla R Magee
1.702.588.2252
Windermere Prestige Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268168
Last Updated: 02/13/2021
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