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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $214.97
- 19 Days on Market
- MLS # : 2265968
- Updated Date : 02/19/2021 at 18:30
CONSTRUCTION
- Beds : 3
- Floor Size : 2,184 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Market Place I
Listing Agent's Description
EXCELLENT CENTRAL SUMMERLIN LOCATION - REMARKABLE HOME - MANY UPGRADES - KITCHEN REMODELED/MASTER BATH REMODELED/CITY VIEWS/NEW FLOORS/INTERIOR PAINT/APPLIANCES/LARGE DEN UPSTAIRS WITH BUILTINS/EXTRA STORAGE ADDED - MOVE-IN READY
SEE MORE
- 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 Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,860 |
| EXPENSES | Loan Payment | -$1,631 |
| Property Tax | -$251 | |
| Property Insurance | -$69 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$210
|
||
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.
$469,500
PROJECTED PRICE
$1,860
PROJECTED RENT
0.40%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$130,168
LOAN DETAILS
$1,631
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $117,375 |
| Loan Amount | $352,125 |
3.58
YEARS SAVED
$15,086
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,860
LIST RENT -
$0.85
LIST RENT PER SQFT
-
$1,966
COMP ESTIMATED VALUE -
$0.9
COMP AVG. RENT PER SQFT
Comps Range
-
2200 Stone Pine Court Las Vegas, NV 3
- 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 1993
![property image]()
- Rent
- Rent Per SQFT
- $1,860
- $0.85
-
9448 Amber Valley Lane Las Vegas, NV 1
- 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1992
![property image]()
LEASED 01/05/21- Rent
- Rent Per SQFT
- $1,750
- $0.84
-
9212 Magic Flower Las Vegas, NV 2
- 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,054 Sqft ∙ Built 1993
![property image]()
LEASED 04/30/20- Rent
- Rent Per SQFT
- $1,800
- $0.88
-
2557 Legend Drive Las Vegas, NV 4
- 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 1989
![property image]()
LEASED 11/10/20- Rent
- Rent Per SQFT
- $2,000
- $0.95
-
9020 Cotton Rose Way Las Vegas, NV 5
- 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,151 Sqft ∙ Built 1995
![property image]()
LEASED 01/27/21- Rent
- Rent Per SQFT
- $2,000
- $0.93
PROPERTY LISTING DETAILS
1.702.498.7307
Keller Williams Market Place I
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2265968
Last Updated: 02/19/2021
