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2311 Malaga Peak Street Las Vegas, NV 89135

4 Beds 3 Baths 1,816 sqft Built 2006

$495,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $272.58
  • 6 Days on Market
  • MLS # : 2273293
  • Updated Date : 03/04/2021 at 18:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,816 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

Guard Gated Traccia, located near the downtown Summerlin mall and Red Rock Golf community. New updated features include vinyl wood flooring throughout, custom painted cabinets, fans/lighting. The kitchen has a stainless appliance package, wine bar, and matching washer/ dryer. The Bedroom Downstairs is used as an intimate dining room that features new contemporary lighting. The grand family room leads to the outdoor garden's detailed patio. Upstairs includes 2 spacious bedrooms with one full bath; the primary bedroom and attached bath have 2 separate walk-in closets and an oversized attached balcony. The primary bath features his and her separate sinks with mirrors. Split 2 car garage with their own entrances. Beautiful private front entrance with lush landscape. Backyard features a natural gas BBQ stub, built-in fire pit, outside landscape lighting, and serene water feature. All interior ad exterior walls were painted in 2020. This house is ready for the next owners.

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: 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
 

$445,500$544,500$495,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,719
Property Tax -$310
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$51

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.

$495,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.0%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$136,925

INVESTMENT

$136,925

Down Payment
$123,750
Rehab Estimate
$5,750
Closing Costs
$7,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,719

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $123,750
Loan Amount $371,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$28,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,833
1$1,8332$1,9503$2,0004$2,1005$2,160
$2,160
RENT COMPS ANALYSIS
  • 2311 Malaga Peak Street Las Vegas, NV 5
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.19
    •  
  • 2306 Malaga Peak Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,833
    • $0.98
    •  
  • 11277 Corsica Mist Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 11190 Corsica Mist Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,873 Sqft ∙ Built 2011
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
  • 11238 Ventura Grass Court Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2013
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.07
    •  
PROPERTY LISTING DETAILS
Vickey England
1.702.595.7776
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2273293
Last Updated: 03/04/2021
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