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2213 Barbers Point Place Las Vegas, NV 89134

2 Beds 1 Baths 1,699 sqft Built 1997

$395,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $232.49
  • 4 Days on Market
  • MLS # : 2253573
  • Updated Date : 12/04/2020 at 19:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,699 sqft
  • Baths : 1 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

SPARKLING VERSAILLES FLOORPLAN WITH AN ENORMOUS GREAT ROOM, PLANTATION SHUTTERS, HIGH CLERESTORY WINDOWS IN GREAT ROOM HAVE SHUTTERS TOO, CEILING FANS, IN-CEILING SPOT LIGHTS. SPACIOUS KITCHEN WITH LONG DINING COUNTER, WALL OVEN & GAS STOVETOP. ALL APPLIANCES & WATER SOFTNER INCLUDED AS IS. PRIMARY BEDROOM SUITE HAS 2 CLOSETS, BAY WINDOW, HIGH RISE TOILET IN SEPARATE ROOM, NATURAL LIGHT IN BATHROOM. THE LARGE COVERED PATIO OPENS TO A BIG REAR YARD THAT FACES SOUTHWEST TO CAPTURE WINTER SUN. WIRED FOR ALARM SYSTEM. FRONT SECURITY DOOR. LOTS OF STORAGE CABINETS & GOLF CART PARKING IN GARAGE. WTR HTR NEW 11/2018. SLEEVED COPPER PIPES-no lawsuits on these. WALKING DISTANCE TO EAGLE CREST EXEC GOLF COURSE & PINNACLE CENTER WITH WORKSHOPS FOR WOOD-WORKING, ART, QUILTING, COMPUTER, THEATER, FITNESS CENTER & POOL WITH STUNNING VIEW OF THE STRIP. HIGH UP IN DEL WEBB'S SUN CITY SUMMERLIN. So many golf courses, rec facilities, pools & clubs that we call it the CRUISE SHIP WITHOUT THE WATER.

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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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,457
Property Tax -$247
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$243

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.

$395,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$10,777

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6004$1,6405$1,650
$1,650
RENT COMPS ANALYSIS
  • 2213 Barbers Point Place Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,699 Sqft ∙ Built 1997 2 beds 1 baths ∙ 1,699 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 2361 Lauren Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,520 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,520 Sqft ∙ Built 1999
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 10312 New Frontier Lane #0 Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,694 Sqft ∙ Built 2001 2 beds 2 baths ∙ 1,694 Sqft ∙ Built 2001
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 2828 Faiss Drive Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,533 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,533 Sqft ∙ Built 1995
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 10717 Brinkwood Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,842 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,842 Sqft ∙ Built 1998
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Arlene A Gawne
1.702.277.1313
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253573
Last Updated: 12/04/2020
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