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2016 Plaza Del Padre Las Vegas, NV 89102

3 Beds 2 Baths 1,668 sqft Built 1980

$399,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $239.75
  • 5 Days on Market
  • MLS # : 2264570
  • Updated Date : 01/28/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,668 sqft
  • Baths : 2 full
Listing Agent

Go Global Realty

Listing Agent's Description

Welcome to the lush community of Spanish Oaks, a one of a kind guard gated community filled with unique architecture and beautiful green spaces. This AMAZING single story home features a spacious open layout with newly remodeled 3 bedroom 2 bath, tons of upgrades! Brand new carpet, flooring, new paint with modern baseboards. Large living room with fireplace. Spacious kitchen is totally new with custom white shaker cabinets, quartz countertops, new lighting, kitchen island, brand new stainless steel appliances, new fixtures. Brand new remodeled bathrooms with new countertops and fixtures. The Master bath has a new shower. Large back yard and side yard for your personal touch. Ready to moving in.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rancho Oakey

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rancho Oakey

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600165017001750Rent in $10761773

* 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
Howard Wasden Elementary School Primary Regular 632 36 3
Hyde Park Middle School Middle Magnet 1,699 69 NA
Ed W. Clark High School High Magnet 3,066 129 7

Howard Wasden Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
3
GreatSchools Rating

Hyde Park Middle School

  • Education Level: Middle
  • # of students: 1,699
  • # of teachers: 69
NA
GreatSchools Rating

Ed W. Clark High School

  • Education Level: High
  • # of students: 3,066
  • # of teachers: 129
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$1,389
Property Tax -$212
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$300

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

$1,480

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

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 60% 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

2.17

YEARS SAVED

$5,796

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,489

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4754$1,4805$1,500
$1,500
RENT COMPS ANALYSIS
  • 2016 Plaza Del Padre Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.89
    •  
  • 4208 El Camino Avenue Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,504 Sqft ∙ Built 1960 3 beds 1 baths ∙ 1,504 Sqft ∙ Built 1960
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 4109 Via Olivero Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 1961 4 beds 3 baths ∙ 1,625 Sqft ∙ Built 1961
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 3060 El Camino Avenue #0 Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1965
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.85
    •  
  • 3412 Calle De Corrida Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 1977
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Sheila Xu
1.540.550.2888
Go Global Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264570
Last Updated: 01/28/2021
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