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2016 Citrus Grove Court North Las Vegas, NV 89032

3 Beds 2 Baths 1,513 sqft Built 1993

$299,990

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $198.27
  • 2 Days on Market
  • MLS # : 2250982
  • Updated Date : 11/28/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,513 sqft
  • Baths : 2 full
Listing Agent

Epronet Realty

Listing Agent's Description

Brand new remodel single story W/ 3 car garage and RV parking, cal-de sac, no HOA! Professional custom two tone paint, new ceiling fan and light fixtures, new sinks, granite countertops, water proof luxury plank flooring in main area with new carpet in bedrooms, master bedroom has double sink and his and hers closet, brand new iron gates on both side of property! Huge backyard is blank canvas for your dream ideas!

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: Montero

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Montero

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9601603

* 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
Richard C. Priest Elementary School Primary Regular 780 44 3
Theron L. Swainston Middle School Middle Regular 1,146 52 NA
Cheyenne High School High Regular 2,212 91 2

Richard C. Priest Elementary School

  • Education Level: Primary
  • # of students: 780
  • # of teachers: 44
3
GreatSchools Rating

Theron L. Swainston Middle School

  • Education Level: Middle
  • # of students: 1,146
  • # of teachers: 52
NA
GreatSchools Rating

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$269,991$329,989$299,990

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,107
Property Tax -$190
Property Insurance -$57
Property Management Fees -$119
CASH FLOW
-$233

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.

$299,990

PROJECTED PRICE

$1,240

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.4%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$85,247

INVESTMENT

$85,247

Down Payment
$74,998
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,998
Loan Amount $224,993
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,331

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,3003$1,3504$1,4005$1,500
$1,500
RENT COMPS ANALYSIS
  • 2016 Citrus Grove Court North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,513 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.82
    •  
  • 1136 Blue Ice Court North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1997
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 2104 Riderwood Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1994
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
  • 2509 Influential Court North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,623 Sqft ∙ Built 1998
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 1829 Fan Fare Drive North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,713 Sqft ∙ Built 1993
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Eva Lei Hatten
1.702.460.8688
Epronet Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250982
Last Updated: 11/28/2020
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