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2416 Deer Lake Street Las Vegas, NV 89134

2 Beds 1 Baths 1,703 sqft Built 1995

$599,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $352.26
  • 5 Days on Market
  • MLS # : 2266543
  • Updated Date : 03/11/2021 at 21:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,703 sqft
  • Baths : 1 full
Listing Agent

Specialists Real Estate

Listing Agent's Description

Excellent Minden model located on top of a hill facing east with views from the elevated cement deck for City View. The home has been beautifully remodeled. The Kitchen has white cabinets and new granite counter tops Stainless one basin under mount kitchen sink. Stainless steel appliances. Recessed lighting removed and can lights installed in kitchen and great room. New lights in kitchen, living, dining areas and bath rooms. New fully tile and stone walk in master shower, Baths have Granite and dual new under mount sink, New faucets. New toilet and plumbing fixtures. Water proof vinyl plank wood type flooring throughout the property. New large baseboards in the entire home and garage. Two tone paint through out the home and garage. New handles on all cabinets. Hard to find east rear lot with no homes directly in rear of the home. Homes are across the street on a 4 lane quiet street down below this lot 's elevation. New enamel floors in the garage. Cool decking on sidewalk and driveway.

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: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$539,910$659,890$599,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$2,084
Property Tax -$273
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$806

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.

$599,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,724

INVESTMENT

$164,724

Down Payment
$149,975
Rehab Estimate
$5,750
Closing Costs
$8,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $149,975
Loan Amount $449,925
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$281

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,754

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7253$1,7304$1,7495$2,000
$2,000
RENT COMPS ANALYSIS
  • 2416 Deer Lake Street Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,703 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,703 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.02
    •  
  • 2361 Lauren Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,520 Sqft ∙ Built 1999 2 beds 1 baths ∙ 1,520 Sqft ∙ Built 1999
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 10532 Broom Hill Drive Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,703 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,703 Sqft ∙ Built 1995
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
  • 10709 Shackleton Drive Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,703 Sqft ∙ Built 1995 2 beds 3 baths ∙ 1,703 Sqft ∙ Built 1995
    property image
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $1.03
    •  
  • 10713 Alton Downs Drive Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,843 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,843 Sqft ∙ Built 1995
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.09
    •  
PROPERTY LISTING DETAILS
John West
1.702.320.6900
Specialists Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266543
Last Updated: 03/11/2021
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