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2141 La Sombra Street Las Vegas, NV 89108

3 Beds 2 Baths 1,238 sqft Built 1987

INVESTimate

$250,000

List Price

$1,140

$1,026 - $1,254

Rent Est.

$279,350  ( +11.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $201.94
  • 6 Days on Market
  • MLS # : 2224034
  • Updated Date : 08/21/2020 at 18:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,238 sqft
  • Baths : 2 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

STUNNING and IMMACULATE one story home located minutes away from shopping and recreation today!! Interior boasts DESIGNER SELECTED TWO TONE paint scheme, LUSH and LAVISH carpet, and a DAZZLING lighting package!! CHEFS DREAM KITCHEN equipped with LUXURIOUS cabinet hardware, GORGEOUS GRANITE countertops, and BRAND NEW SS appliances!! Master suite with SPA LIKE RETREAT!! PRICED TO SELL and MOVE IN READY!!

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MARKET HIGHLIGHTS

  • 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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Zip Code: 89108

ZipNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9121603

* 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
Bertha Ronzone Elementary School Primary Regular 953 54 2
J. Harold Brinley Middle School Middle Regular 914 41 NA
Cimarron Memorial High School High Regular 2,541 102 3

Bertha Ronzone Elementary School

  • Education Level: Primary
  • # of students: 953
  • # of teachers: 54
2
GreatSchools Rating

J. Harold Brinley Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 41
NA
GreatSchools Rating

Cimarron Memorial High School

  • Education Level: High
  • # of students: 2,541
  • # of teachers: 102
3
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,026$1,254$1,140

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,140
EXPENSES Loan Payment -$922
Property Tax -$131
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$83

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.

$250,000

PROJECTED PRICE

$1,140

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,140

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,139

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,050
1$1,0502$1,0993$1,1404$1,1505$1,295
$1,295
RENT COMPS ANALYSIS
  • 2141 La Sombra Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,238 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,140
    • $0.92
    •  
  • 2306 Maverick Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,152 Sqft ∙ Built 1979
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.91
    •  
  • 5722 West Lake Mead Boulevard #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1972
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $0.88
    •  
  • 2209 Silver Pine Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,220 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,220 Sqft ∙ Built 1992
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.94
    •  
  • 6308 Blue Twilight Court Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,357 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,357 Sqft ∙ Built 2006
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.95
    •  
PROPERTY LISTING DETAILS
Andrew J Grasso
1.702.400.4782
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224034
Last Updated: 08/21/2020
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