Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1985 Canyon Breeze Drive Las Vegas, NV 89134

4 Beds 3 Baths 2,522 sqft Built 1994

INVESTimate

$559,000

List Price

$1,990

$1,791 - $2,189

Rent Est.

$599,751  ( +7.29%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $221.65
  • 7 Days on Market
  • MLS # : 2223463
  • Updated Date : 08/21/2020 at 15:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,522 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Stunning home, fully remodeled with high end upgrades throughout! Located in Summerlin, this turn-key home is for the most exquisite buyers! Gorgeous kitchen with waterfall island, quartz counters, custom cabinets, stainless steel appliances, wine refrigerator, opens to a family room with cozy fireplace! Formal dining area! Huge master bedroom, master bathroom with separate shower and freestanding bath tub, make-up area. Backyard with covered patio for entertaining with family and friends! Everything in this house was just remodeled and upgraded for the finest taste! 4 bedrooms, separate laundry area, all brand new appliances included! 3D Tour available so you can preview this home as if you were walking right through the home!

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 Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k383k

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

Neighborhood: The Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

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

$503,100$614,900$559,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$2,062
Property Tax -$266
Property Insurance -$76
HOA -$50
Property Management Fees -$119
CASH FLOW
-$583

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.

$559,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.29%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,885

INVESTMENT

$153,885

Down Payment
$139,750
Rehab Estimate
$5,750
Closing Costs
$8,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,062

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $139,750
Loan Amount $419,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,053

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,207

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,1003$2,1954$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1985 Canyon Breeze Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.79
    •  
  • 9257 Evergreen Canyon Drive Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,595 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,595 Sqft ∙ Built 1993
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 2024 Paradise Peak Drive Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1993
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 2004 Canyon Breeze Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1992
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 2013 Canyon Breeze Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1992
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
PROPERTY LISTING DETAILS
Raluca O Petre
1.702.524.7396
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223463
Last Updated: 08/21/2020
BESbswy