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224 Muldowney Lane Las Vegas, NV 89138

3 Beds 3 Baths 2,644 sqft Built 2004

$650,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $245.84
  • 3 Days on Market
  • MLS # : 2247005
  • Updated Date : 11/13/2020 at 17:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,644 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Single story home in Summerlin Vistas. Sparkling pool and spa in private backyard. Large open concept living area. Expansive kitchen with island and stainless steel appliances. Separate breakfast nook and dinning room. Private den/office area. Large master bedroom separate from other rooms with giant walk-in closet and entry to backyard. Master bath boasts dual sinks, separate shower and jet tub. Minutes from Vistas Commons Shopping Center, Red Rock Casino, Vegas Ballpark and Downtown Summerlin.

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: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$2,398
Property Tax -$455
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
$19

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.

$650,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k$35k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$54,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $1.16

    LIST RENT PER SQFT
  • $3,107

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6503$3,0704$3,5005$3,500
$3,500
RENT COMPS ANALYSIS
  • 224 Muldowney Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $1.16
    •  
  • 85 Alerion Street Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,500 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,500 Sqft ∙ Built 2003
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 131 Colantonio Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,629 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,629 Sqft ∙ Built 2016
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.01
    •  
  • 224 Muldowney Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,644 Sqft ∙ Built 2004
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.32
    •  
  • 232 Muldowney Lane #0 Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,623 Sqft ∙ Built 2004
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.33
    •  
PROPERTY LISTING DETAILS
Tiffany Carlotti
1.818.271.1347
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247005
Last Updated: 11/13/2020
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