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2264 Platinum Band Street Las Vegas, NV 89156

3 Beds 3 Baths 1,086 sqft Built 2003

$215,000

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $197.97
  • 4 Days on Market
  • MLS # : 2277943
  • Updated Date : 03/12/2021 at 03:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,086 sqft
  • Baths : 2 full , 1 half
Listing Agent

Winning Realty

Listing Agent's Description

3 bedroom, 2.5 bathroom in gated community. Great investment opportunity!

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: Wexford Village at Sunrise

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $62k296k

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

Neighborhood: Wexford Village at Sunrise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8481603

* 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
Martin Luther King Jr Elementary School Primary Regular 521 31 3
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Martin Luther King Jr Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 31
3
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$747
Property Tax -$129
Property Insurance -$48
Property Management Fees -$119
CASH FLOW
$27

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.

$215,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) -0.5%
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$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$14,668

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,100

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,070
1$1,0702$1,2003$1,2504$1,2955$1,375
$1,375
RENT COMPS ANALYSIS
  • 2264 Platinum Band Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,086 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,086 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.99
    •  
  • 5150 Starter Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2005
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 2246 Boxer Street Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,343 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,343 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.93
    •  
  • 5219 Paradise Valley Avenue #n/a Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2002
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $1.09
    •  
  • 5260 Paradise Valley Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,343 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,343 Sqft ∙ Built 2003
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lonnie Williams
1.702.513.2512
Winning Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2277943
Last Updated: 03/12/2021
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