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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $249.63
- 4 Days on Market
- MLS # : 2258552
- Updated Date : 01/01/2021 at 05:04
CONSTRUCTION
- Beds : 3
- Floor Size : 2,704 sqft
- Baths : 2 full , 1 half
Listing Agent
Simply Vegas
Listing Agent's Description
Exquisitely upgraded home in the highly sought after guard-gated Traccia! This stunning home boasts 3 bedrooms, an office/den, plus a spacious upstairs loft. This property has been upgraded with the following- complete kitchen remodel with high end cabinetry and beautiful stone counters/backsplash, top of the line stainless steel appliances, built in coffee machine, brand new wood-like flooring throughout entire home, and much more. The community offers everything from a large scale pool and spa, fitness room, clubhouse, tennis courts, and walking paths.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Summerlin Centre
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,780 |
| EXPENSES | Loan Payment | -$2,490 |
| Property Tax | -$410 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$319
|
||
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.
$675,000
PROJECTED PRICE
$2,780
PROJECTED RENT
0.41%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$184,625
LOAN DETAILS
$2,490
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $168,750 |
| Loan Amount | $506,250 |
3.58
YEARS SAVED
$25,855
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,780
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$2,461
COMP ESTIMATED VALUE -
$0.91
COMP AVG. RENT PER SQFT
Comps Range
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- $2,750
- $1.00
PROPERTY LISTING DETAILS
1.702.513.3842
Simply Vegas
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2258552
Last Updated: 01/01/2021
