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2283 Diamond Pointe Street Las Vegas, NV 89156

3 Beds 3 Baths 1,343 sqft Built 2002

$205,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $152.64
  • 3 Days on Market
  • MLS # : 2249998
  • Updated Date : 11/27/2020 at 19:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,343 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

Very nice, clean 3 bed, 3bath home in gated community, backpatio looking onto greenbelt; includes all appliances.

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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: 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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$756
Property Tax -$136
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$236

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.

$205,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.63%

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$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$40,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,336

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2003$1,2754$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 2283 Diamond Pointe Street Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,343 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,343 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 5211 Paradise Skies Avenue Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2002
    property image
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.01
    •  
  • 5150 Starter Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,188 Sqft ∙ Built 2005
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 5195 Shreve Avenue #na Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,342 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,342 Sqft ∙ Built 2005
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.95
    •  
  • 5208 Starter Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,343 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,343 Sqft ∙ Built 2005
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
PROPERTY LISTING DETAILS
Asalia Mcinerney
1.702.427.1589
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249998
Last Updated: 11/27/2020
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