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2337 Stone Glen Lane Las Vegas, NV 89134

4 Beds 2 Baths 2,437 sqft Built 1997

$477,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $195.73
  • 2 Days on Market
  • MLS # : 2270080
  • Updated Date : 02/13/2021 at 23:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,437 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Fantastic 2 story corner lot home in the heart of Summerlin. Open & inviting appeal, sweeping staircase, vaulted ceilings & large windows for lots of light. Stunning ceiling chandelier pieces & numerous ceiling fans throughout. Granite kitchen counters & island, SS stove & dbl door refrigerator, double oven wall unit, numerous wood cabinets. Open concept dining & gathering room w/gas fireplace & TV niche. Main upstairs bedroom has ensuite bath, dual glass bowl sinks, generous closet space & classic aesthetic. Home includes 3 guest bedrooms, sep. laundry room & 3 baths. Hardwood floors throughout downstairs & carpet upstairs in bedroom areas. Built-in desk area on upstairs landing. Private back yard w/large patio & relaxing quaint waterfall feature for that morning coffee or glass of wine in the evening. Three car garage w/new garage door. Easy access to freeways, shopping, schools & nearby parks. Outstanding location, great architectural features, sure to wow your buyers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $119k408k

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

Neighborhood: The Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10761992

* 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
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
 

$429,300$524,700$477,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,657
Property Tax -$296
Property Insurance -$74
Property Management Fees -$119
CASH FLOW
$304

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.

$477,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.6%
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$0.0$5.0k$10k$15k$20k$25k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,155

INVESTMENT

$132,155

Down Payment
$119,250
Rehab Estimate
$5,750
Closing Costs
$7,155

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,657

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,250
Loan Amount $357,750
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$61,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,449

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3953$2,4504$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 2337 Stone Glen Lane Las Vegas, NV 4
    • 4 beds 2 baths ∙ 2,437 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,437 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.01
    •  
  • 10128 Cypress Glen Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1996
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 10140 Hill Country Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,437 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,437 Sqft ∙ Built 1996
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.98
    •  
  • 2109 Fawn Ridge Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 1998
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.96
    •  
  • 2337 Ivory Point Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,314 Sqft ∙ Built 1997
    property image
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Christopher Patrick
1.702.372.8844
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270080
Last Updated: 02/13/2021
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