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2208 Turtle Beach Avenue North Las Vegas, NV 89081

3 Beds 2 Baths 1,579 sqft Built 2008

$299,990

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $189.99
  • 5 Days on Market
  • MLS # : 2272812
  • Updated Date : 02/26/2021 at 22:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,579 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Charming 3 bedroom, 2 bathroom, single story home in a small gated community, This beautiful home features upgraded White cabinets, Quartz Countertops, Gorgeous upgraded flooring throughout, Stainless Steel Appliances and much more. A MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Tropical and Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Tropical and Lawrence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9321603

* 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
Jesse Scott Elementary School Primary Regular 853 45 2
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

Jesse Scott Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 45
2
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

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

$269,991$329,989$299,990

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$1,042
Property Tax -$238
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$97

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.

$299,990

PROJECTED PRICE

$1,360

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,247

INVESTMENT

$85,247

Down Payment
$74,998
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,998
Loan Amount $224,993
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,360
1$1,3602$1,4503$1,4954$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 2208 Turtle Beach Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $0.86
    •  
  • 2917 Tilten Kilt North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,656 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 5336 Pendergrass North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2007
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 5452 Ayers Cliff Street North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,741 Sqft ∙ Built 2006
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 5349 Brazelton Street North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2010
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Juanita L Reyna
1.702.271.3735
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2272812
Last Updated: 02/26/2021
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