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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $180.73
- 4 Days on Market
- MLS # : 2261559
- Updated Date : 01/16/2021 at 05:00
CONSTRUCTION
- Beds : 4
- Floor Size : 2,429 sqft
- Baths : 2 full , 1 half
Listing Agent
Nevada Asset Preservation & Ma
Listing Agent's Description
Absolutely stunning/remodeled 4 bedroom POOL home nestled in the heart of Summerlin North. This community is surrounded by multiple schools, shopping near by, your clients will enjoy the convenience of all the amenities Summerlin has to offer. If you are new to the area, please go to summerlink.com to see all that Summerlin has to offer. Seller has spent thousands putting a fresh face on this home with upgraded Granite countertops, luxurious tile flooring, upgraded carpet in all bedrooms, new light fixtures, toilets, fresh two tone paint, and much more! Oasis like rear yard with covered patio and sparkling pool. Formal living and dinning room, plus a generous family room with a cozy fireplace.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,020 |
| EXPENSES | Loan Payment | -$1,525 |
| Property Tax | -$276 | |
| Property Insurance | -$74 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$26
|
||
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.
$439,000
PROJECTED PRICE
$2,020
PROJECTED RENT
0.46%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$122,085
LOAN DETAILS
$1,525
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $109,750 |
| Loan Amount | $329,250 |
6.25
YEARS SAVED
$31,495
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,020
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$2,010
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
2020 Paradise Peak Drive Las Vegas, NV 3
- 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $2,020
- $0.83
-
1956 Evening Glow Drive Las Vegas, NV 1
- 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1993
LEASED 10/12/20- Rent
- Rent Per SQFT
- $1,850
- $0.76
-
1980 Canyon Breeze Drive Las Vegas, NV 2
- 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1993
LEASED 09/21/20- Rent
- Rent Per SQFT
- $2,000
- $0.79
-
8705 Summer Ridge Drive Las Vegas, NV 4
- 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1993
LEASED 01/14/21- Rent
- Rent Per SQFT
- $2,150
- $0.85
-
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
1.702.328.3589
Nevada Asset Preservation & Ma
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2261559
Last Updated: 01/16/2021
