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220 Heathrow Lake Avenue North Las Vegas, NV 89084

3 Beds 3 Baths 2,036 sqft Built 2017

$339,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $166.94
  • 5 Days on Market
  • MLS # : 2247543
  • Updated Date : 11/13/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,036 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Lovely 3 bedroom, home with a layout ideal for entertaining. This open floor plan features a bedroom and full bath downstairs, with new appliances less than a year old. Rooftop deck with mountain views and a finished backyard, perfect to snuggle under a fire pit with friends for smores. Spacious primary room accompanied with an oversized shower and closet. Charming gated community that includes access to community pool and bike trails. Nearby shopping and close proximity to the 215 freeway. Do not pass this one up it will surely impress!!!

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: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $110k366k

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

Neighborhood: North Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671640

* 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
Don E. Hayden Elementary School Primary Regular 702 38 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Don E. Hayden Elementary School

  • Education Level: Primary
  • # of students: 702
  • # of teachers: 38
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

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

$305,910$373,890$339,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,254
Property Tax -$294
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$234

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.

$339,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
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-$6.0k-$4.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5504$1,5955$1,595
$1,595
RENT COMPS ANALYSIS
  • 220 Heathrow Lake Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.74
    •  
  • 606 Painted Opus Place #0 North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,871 Sqft ∙ Built 2002
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.80
    •  
  • 916 Rome Boulevard North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,102 Sqft ∙ Built 2005
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.74
    •  
  • 33 Morrestown Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2016
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 216 Heathrow Lake Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,095 Sqft ∙ Built 2017
    property image
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
PROPERTY LISTING DETAILS
Treshay B Allen
1.702.305.6130
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247543
Last Updated: 11/13/2020
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