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2013 Summer Lily Avenue North Las Vegas, NV 89081

5 Beds 2 Baths 2,262 sqft Built 2010

$315,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $139.26
  • 5 Days on Market
  • MLS # : 2250728
  • Updated Date : 11/26/2020 at 20:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,262 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Welcome home to a five bedroom, three bath home with one bedroom and bath downstairs. The great room is spacious and features a large kitchen. The kitchen features all black appliances, including the fridge. The large primary bedroom is located in the rear of the home. The bedroom currently being used as a man cave has access to an upstairs bathroom. The backyard has a firepit and built in BBQ.

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: Lone Mountain Losee

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $84k349k

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

Neighborhood: Lone Mountain Losee

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651624

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$1,162
Property Tax -$254
Property Insurance -$71
Property Management Fees -$119
CASH FLOW
$74

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.

$315,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.1%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$28,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6503$1,6804$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2013 Summer Lily Avenue North Las Vegas, NV 3
    • 5 beds 2 baths ∙ 2,262 Sqft ∙ Built 2010 5 beds 2 baths ∙ 2,262 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.74
    •  
  • 4934 Teal Petals Street #0 North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2006
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.69
    •  
  • 1113 Ripplestone Avenue North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1997
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 2305 Clarington Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2006
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 5312 Manor Stone North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,423 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
PROPERTY LISTING DETAILS
Alan J Sheleheda
1.702.524.8561
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250728
Last Updated: 11/26/2020
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