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221 Pivot Avenue North Las Vegas, NV 89031

3 Beds 2 Baths 1,727 sqft Built 2019

$359,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $208.40
  • 3 Days on Market
  • MLS # : 2279858
  • Updated Date : 03/19/2021 at 21:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,727 sqft
  • Baths : 2 full
Listing Agent

Executive Realty Services

Listing Agent's Description

Beautiful, immaculate one year old single story home with 3 bedrooms, 2 full bath and Flex room. Upgraded features include granite and quartz counter tops with upgraded plumbing fixtures, kitchen tiled backsplash and upgraded double oven range. All stainless appliances along with HE high capacity washer and dryer. Ceiling fans throughout and custom wood window blinds. Finished garage with epoxied floor and smart garage door opener. Many more features along with an oversized covered patio and nicely landscaped back yard. Vivint “Sky Panel” security system included.

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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: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Fredric W Watson Elementary School Primary Regular 648 36 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Fredric W Watson Elementary School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 36
2
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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$1,250
Property Tax -$77
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$3

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.

$359,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.1%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$22,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,520

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4003$1,4854$1,5005$1,510
$1,510
RENT COMPS ANALYSIS
  • 221 Pivot Avenue North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,727 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.87
    •  
  • 5746 Cactus Blossom Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2003
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.85
    •  
  • 24 Marble Apex Avenue #0 Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,622 Sqft ∙ Built 2007
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 24 Pine Blossom North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,615 Sqft ∙ Built 2008
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $0.92
    •  
  • 32 Focal Point Avenue North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,677 Sqft ∙ Built 2006
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Enrique A Moreno
1.702.278.8871
Executive Realty Services
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2279858
Last Updated: 03/19/2021
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