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2165 Lisa Lane Las Vegas, NV 89117

3 Beds 2 Baths 1,606 sqft Built 1984

$420,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $261.52
  • 3 Days on Market
  • MLS # : 2258195
  • Updated Date : 01/03/2021 at 00:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,606 sqft
  • Baths : 2 full
Listing Agent

Homesmart Encore

Listing Agent's Description

Single story custom home. New tile roof. New Windows. Upgraded kitchen with new appliances. Updated bathrooms. New wood floors thru-out, with tile in the kitchen and bathrooms. Custom master bedroom closet. Large 1/2 acre lot ready for your idea for a backyard oasis. Seller is also selling 1/2 acre adjacent to this lot, for a total of 1 acre if interested, MLS# 2258823. RV parking. Private Cul-de-Sac with only 4 lots. Furniture and all appliances included in the sale.

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: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k384k

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

Neighborhood: Canyon Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762045

* 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
Herbert A. Derfelt Elementary School Primary Regular 699 34 6
Walter Johnson Junior High School Middle Regular 1,102 50 NA
Bonanza High School High Regular 2,003 83 3

Herbert A. Derfelt Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 34
6
GreatSchools Rating

Walter Johnson Junior High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 50
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,550
Property Tax -$258
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$445

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.

$420,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$2,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,5003$1,5004$1,5405$1,698
$1,698
RENT COMPS ANALYSIS
  • 2165 Lisa Lane Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.96
    •  
  • 8613 Lyla Rae Circle Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,490 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,490 Sqft ∙ Built 1987
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.96
    •  
  • 8449 Indigo Harbor Avenue #0 Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2001
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.94
    •  
  • 8412 Pacific Fountain Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1995 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1995
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 2952 Harbor Heights Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2002
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,698
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lea Omeish
1.702.460.0610
Homesmart Encore
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258195
Last Updated: 01/03/2021
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