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2024 Spring Rose Street Las Vegas, NV 89134

4 Beds 4 Baths 3,231 sqft Built 2000

$674,888

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $208.88
  • 6 Days on Market
  • MLS # : 2263365
  • Updated Date : 01/27/2021 at 05:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,231 sqft
  • Baths : 3 full , 1 half
Listing Agent

Quantified Investment Group

Listing Agent's Description

BEAUTIFUL 4 BEDROOMS 1 DEN IN #GAURD GATED COMMUNITY#AT THE HEART OF #SUMMERLIN# FEATURS INCLUDE: OUTSTANDING OPEN AREA GOURMET KITCHEN WITH ADJACENT SPACIOUS FAMILY ROOM WITH SOARING VAULTED CELILING .PROPERTY IS PROFESSIONALLY LANDSCAPED FRONT AND BACK. THIS HOME IS PERFECT FOR ENTERTAINING! PRISTINE, COZY NEIGHBORHOOD IN MINUTES FROM PREMIER SHOPPING AND RESTAURANTS. THIS HOUSE HAS IT ALL .!!!!!!!!!! ! FREEWAY ACCESS AROUND THE CORNER! THIS WON'T LAST LONG

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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: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k408k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761992

* 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
 

$607,399$742,377$674,888

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$2,344
Property Tax -$433
Property Insurance -$90
Property Management Fees -$119
CASH FLOW
-$425

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.

$674,888

PROJECTED PRICE

$2,560

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$184,595

INVESTMENT

$184,595

Down Payment
$168,722
Rehab Estimate
$5,750
Closing Costs
$10,123

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,344

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $168,722
Loan Amount $506,166
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$12,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,593

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5604$2,7605$2,800
$2,800
RENT COMPS ANALYSIS
  • 2024 Spring Rose Street Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.79
    •  
  • 2008 Faywood Street Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,260 Sqft ∙ Built 1996 5 beds 3 baths ∙ 3,260 Sqft ∙ Built 1996
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 9604 Coral Rose Court Las Vegas, NV 2
    • 3 beds 4 baths ∙ 3,231 Sqft ∙ Built 1998 3 beds 4 baths ∙ 3,231 Sqft ∙ Built 1998
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.77
    •  
  • 2217 Timber Rose Drive Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,231 Sqft ∙ Built 2000
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.85
    •  
  • 2021 Oak River Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 3,407 Sqft ∙ Built 1996 4 beds 2 baths ∙ 3,407 Sqft ∙ Built 1996
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.82
    •  
PROPERTY LISTING DETAILS
Farshad Hashemikohanzadeh
1.702.272.6965
Quantified Investment Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2263365
Last Updated: 01/27/2021
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