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2117 Turtle Beach Avenue North Las Vegas, NV 89081

3 Beds 2 Baths 1,240 sqft Built 2008

$259,000

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $208.87
  • 5 Days on Market
  • MLS # : 2248907
  • Updated Date : 11/20/2020 at 18:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,240 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Gorgeous Single Story In Gated Community. Beautiful Bright And Open Floor Plan With New Modern Plank Style Flooring, Fresh Paint, Large Master Bedroom With Walk In Closet, Ceiling Fans In Each Room, Covered Patio With No Neighbors Behind. Desert Landscaping Front And Back. Situated In All One Story Neighborhood on a Cul De Sac. 3 Community Parks and A Playground To Enjoy In This Lovely Community! Appliances Stay, New Water Heater, Nest Thermostat, And Ring Doorbell Included.

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: Tropical and Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Tropical and Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9321603

* 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
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

Jesse Scott Elementary School

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

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$956
Property Tax -$209
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$245

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.

$259,000

PROJECTED PRICE

$1,090

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,091

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,1953$1,2954$1,3255$1,350
$1,350
RENT COMPS ANALYSIS
  • 2117 Turtle Beach Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,240 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $0.88
    •  
  • 1221 Sunny Acres Avenue #0 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 2004
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.88
    •  
  • 6206 Standing Elm Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2004
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.86
    •  
  • 6025 Draft Horse Drive North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2004
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.88
    •  
  • 5821 Michael Dean Street #0 North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2005
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
PROPERTY LISTING DETAILS
Shirley A Adams
1.702.767.9928
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248907
Last Updated: 11/20/2020
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