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2307 Malaga Peak Street Las Vegas, NV 89135

2 Beds 3 Baths 1,750 sqft Built 2006

INVESTimate

$479,000

List Price

$1,890

$1,701 - $2,079

Rent Est.

$517,224  ( +7.98%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $273.71
  • 9 Days on Market
  • MLS # : 2222698
  • Updated Date : 08/18/2020 at 16:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,750 sqft
  • Baths : 2 full , 1 half
Listing Agent

Luxury Real Estate Advisors

Listing Agent's Description

Discover Traccia, a guard gated luxury enclave just steps to dinning, shopping and entertainment offered at Downtown Summerlin and Red Rock Resort. This residence is rare as it is one of few elevated South facing lots which provides ample natural sunlight and privacy. Moreover, 2307 Malaga Peak was recently renovated with new paint and flooring throughout, quartz countertops, AC unit and a landscaped courtyard.

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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: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k380k

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

Neighborhood: Summerlin Centre

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762040

* 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
Judy And John Goolsby Elementary School Primary Regular 807 42 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Judy And John Goolsby Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 42
10
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
 

$431,100$526,900$479,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

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-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,767
Property Tax -$300
Property Insurance -$61
HOA -$230
Property Management Fees -$119
CASH FLOW
-$588

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.

$479,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.98%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$845

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8004$1,8905$1,900
$1,900
RENT COMPS ANALYSIS
  • 2307 Malaga Peak Street Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,750 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,750 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $1.08
    •  
  • 2299 Malaga Peak Street Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,653 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,653 Sqft ∙ Built 2006
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
  • 2272 Aragon Canyon Street Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,653 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,653 Sqft ∙ Built 2005
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
  • 11371 Corsica Mist Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,653 Sqft ∙ Built 2009 2 beds 3 baths ∙ 1,653 Sqft ∙ Built 2009
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.09
    •  
  • 1870 Granemore Street Las Vegas, NV 5
    • 2 beds 3 baths ∙ 1,791 Sqft ∙ Built 2006 2 beds 3 baths ∙ 1,791 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.06
    •  
PROPERTY LISTING DETAILS
Anthony J Phillips
1.702.629.3481
Luxury Real Estate Advisors
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222698
Last Updated: 08/18/2020
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