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216 Florio Court Las Vegas, NV 89138

3 Beds 3 Baths 2,644 sqft Built 2003

$1,100,000

List Price

$3,490

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $416.04
  • 25 Days on Market
  • MLS # : 2266371
  • Updated Date : 03/06/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Anchor Realty Group

Listing Agent's Description

Rare opportunity to own a 1 story Summerlin home with Strip and City views from the moment you enter the house. Watch the fireworks from your kitchen breakfast bar barstools. Beautiful curb appeal on cul-de sac street with Pebblestone driveway. Open floor plan with amazing kitchen. East Great Room wall has been replaced with high end 8 foot tall 'Panda Door' sliding glass doors. Built in shelves and entertainment center in Great room. Wrap around covered patio plus built in spa on elevated area in back yard. One of a kind home with too many amenities to list. Pictures say it all!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$990,000$1,210,000$1,100,000

PURCHASE PRICE

$3,141$3,839$3,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,490
EXPENSES Loan Payment -$3,821
Property Tax -$428
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$956

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.

$1,100,000

PROJECTED PRICE

$3,490

PROJECTED RENT

0.32%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
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$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$297,250

INVESTMENT

$297,250

Down Payment
$275,000
Rehab Estimate
$5,750
Closing Costs
$16,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $275,000
Loan Amount $825,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$10,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,490

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $3,477

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$3,350
1$3,3502$3,4903$3,5004$3,5005$3,550
$3,550
RENT COMPS ANALYSIS
  • 216 Florio Court Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $3,490
    • $1.32
    •  
  • 11753 Feinberg Place Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,641 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,641 Sqft ∙ Built 2003
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.27
    •  
  • 224 Muldowney Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2004
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.32
    •  
  • 232 Muldowney Lane #0 Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 2004
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.33
    •  
  • 228 Muldowney Lane Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,641 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,641 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,550
    • $1.34
    •  
PROPERTY LISTING DETAILS
Eileen H Lefebvre
1.702.339.2540
Anchor Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266371
Last Updated: 03/06/2021
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