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2360 Mourning Warbler Avenue North Las Vegas, NV 89084

2 Beds 1 Baths 1,157 sqft Built 2006

$368,888

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $318.83
  • 1 Days on Market
  • MLS # : 2313813
  • Updated Date : 07/13/2021 at 18:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,157 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

AMAZING PREMIUM CORNER LOT HOME WITH ALL THE BELLS AND WHISTLES! RECONFIGURED KITCHEN WITH EXTENDED COUNTER AND CABINETS, NEW GRANITE COUNTERTOPS, NEW LG WIFI APPLIANCES, STAINLESS STEEL SINGLE BASIN SINK, NEW FAUCET, NEWLY PAINTED CABINETS, AND CUSTOM BACKSPLASH. IN THE PRIMARY BEDROOM, THE BATHROOM HAS BEEN COMPLETELY REMODELED WITH A LARGE MODERN CUSTOM TILE SHOWER, NEW MIRRORS, NEW LIGHT FIXTURE, NEW FAUCETS AND PUSH DRAINS PLUS A HIGH TOILET. HALL BATHROOM FEATURES A NEW FAUCET, NEW MIRROR, LIGHT FIXTURE, AND TOILET. NEWER EXTERIOR PAINT, NEWER INTERIOR PAINT, NEW CEILING FANS THROUGHOUT, NEW VERTICALS, LED LIGHT BULBS, DIMMER SWITCHES, NEWER FRONT LOAD SAMSUNG WASHER AND DRYER. THE EXTERIOR FRONT HAS STACKED STONE, A LONGER DRIVEWAY, A PAINTED LARGE FRONT PATIO APPROXIMATELY 23' X 8', AND A SECURITY STORM DOOR WITH DECORATIVE GLASS. BACK PATIO IS TILED. GREAT AMENITIES IN SUN CITY ALIANTE, NEAR SHOPPING, CASINO, FREEWAY, ETC.

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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: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k308k

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

Neighborhood: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Vincent L. Triggs Elementary School Primary Regular 761 40 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Shadow Ridge High School High Regular 2,697 105 6

Vincent L. Triggs Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$331,999$405,777$368,888

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,281
Property Tax -$214
Property Insurance -$50
HOA -$67
Property Management Fees -$119
CASH FLOW
-$421

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.

$368,888

PROJECTED PRICE

$1,310

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,505

INVESTMENT

$103,505

Down Payment
$92,222
Rehab Estimate
$5,750
Closing Costs
$5,533

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,281

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,222
Loan Amount $276,666
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,041

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,2503$1,310
$1,310
RENT COMPS ANALYSIS
  • 2360 Mourning Warbler Avenue North Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,157 Sqft ∙ Built 2006 2 beds 1 baths ∙ 1,157 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.13
    •  
  • 2109 Bay Thrush Way North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,157 Sqft ∙ Built 2005
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,000
    • $0.86
    •  
  • 6748 Lavender Lilly Lane #2 North Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2005 2 beds 3 baths ∙ 1,332 Sqft ∙ Built 2005
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
PROPERTY LISTING DETAILS
Elizabeth Ollivier
1.702.845.3788
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2313813
Last Updated: 07/13/2021
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