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PROPERTY INFO
FACTS
- Single Family
- Built In 1982
- Price/Sqft : $239.13
- 3 Days on Market
- MLS # : 2268819
- Updated Date : 02/19/2021 at 17:08
CONSTRUCTION
- Beds : 4
- Floor Size : 2,760 sqft
- Baths : 2 full , 1 half
Listing Agent
Redfin
Listing Agent's Description
You will love the charming character from the moment you arrive & enter this home - fireplace rising up to the vaulted ceilings greets you in the open concept sunken family room. Beautiful warm easy care wood & tile flooring, wood shutters, arched entries & birch doors add to impressive details. Upgraded kitchen features granite counters, soft close cabinets, SS Appliances, oversized breakfast bar - ideal for preparing your meals next to the spacious dining room. NuCore antimicrobial, water resistant flooring in kitchen & baths. Generously-sized bedrooms including primary bedroom & en suite bath along w/his & her closets. Backyard oasis w/large covered patio, synthetic turf Putting Green, Refreshing Pool w/new variable speed Power Efficient Pump, also solar heated for year round enjoyment! Large lot & space at back of property & RV Parking means room for your toys, trucks, tennis or? Well-maintained, this home boasts a newer roof & fresh exterior paint.
SEE MORE
- 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: Rainbow Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rainbow Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,420 |
| EXPENSES | Loan Payment | -$2,292 |
| Property Tax | -$311 | |
| Property Insurance | -$81 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$383
|
||
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.
$660,000
PROJECTED PRICE
$2,420
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 7.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$180,650
LOAN DETAILS
$2,292
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $165,000 |
| Loan Amount | $495,000 |
3
YEARS SAVED
$15,550
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,420
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$2,525
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
-
2290 Tenaya Way Las Vegas, NV 2
- 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 1982
- Rent
- Rent Per SQFT
- $2,420
- $0.88
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6512 Peppermill Drive Las Vegas, NV 1
- 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1985
LEASED 07/29/20- Rent
- Rent Per SQFT
- $2,295
- $0.87
-
2914 Aqualine Court Las Vegas, NV 3
- 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2000
LEASED 11/12/20- Rent
- Rent Per SQFT
- $2,495
- $0.93
-
6995 Obannon Drive Las Vegas, NV 4
- 4 beds 1 baths ∙ 2,814 Sqft ∙ Built 1980 4 beds 1 baths ∙ 2,814 Sqft ∙ Built 1980
LEASED 04/01/20- Rent
- Rent Per SQFT
- $2,550
- $0.91
-
2610 Belcastro Street Las Vegas, NV 5
- 5 beds 3 baths ∙ 2,942 Sqft ∙ Built 1980 5 beds 3 baths ∙ 2,942 Sqft ∙ Built 1980
LEASED 10/15/19- Rent
- Rent Per SQFT
- $2,800
- $0.95
PROPERTY LISTING DETAILS
1.702.612.7777
Redfin
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2268819
Last Updated: 02/19/2021
