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2421 Sunrise Springs Court North Las Vegas, NV 89031

3 Beds 2 Baths 1,729 sqft Built 1999

$348,888

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $201.79
  • 7 Days on Market
  • MLS # : 2251309
  • Updated Date : 11/30/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,729 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

DON’T MISS THIS DIAMOND! Exquisite one story, 3 bed, 2 full-baths Home on quiet cul-de-sac. NO HOA! BRAND NEW: Wood butcher block Island, American Made self-closing vanities & cabinets, stainless Maytag dishwasher, Kenmore Elite Refrigerator, Samsung Microwave & Stove, GE Washer & Dryer, quartz counters, Farm Kitchen sink, plank tile, 5” base boards, exterior & interior paint, Epoxy garage floor, front yard pavers, plumbing, angle & supply lines, faucets, modern toilets, exterior & interior hardware, lights, switches, Nest Thermostat, carbon monoxide & smoke detectors, Ring Motion Flood Lights & Doorbell, show-stopping Dining crystal chandelier & ceiling fans in 2 bedrooms! Family Room fireplace boasts white ledger stone that compliments the stunning “ice” Kitchen back splash.Handmade genuine bamboo Conrad Shades! Gorgeous Minka Aire brushed nickel ceiling fan with genuine maple blades, wall control & hand remote.Shaw carpet with 8oz padding.Some furniture & window treatments included!

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MARKET HIGHLIGHTS

  • 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: Northfork

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Northfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9061603

* 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
Steve Cozine Elementary School Primary Regular 773 41 5
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Cheyenne High School High Regular 2,212 91 2

Steve Cozine Elementary School

  • Education Level: Primary
  • # of students: 773
  • # of teachers: 41
5
GreatSchools Rating

Brian And Teri Cram Middle School

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

Cheyenne High School

  • Education Level: High
  • # of students: 2,212
  • # of teachers: 91
2
GreatSchools Rating
 

$313,999$383,777$348,888

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$1,287
Property Tax -$215
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
-$332

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$348,888

PROJECTED PRICE

$1,350

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$98,205

INVESTMENT

$98,205

Down Payment
$87,222
Rehab Estimate
$5,750
Closing Costs
$5,233

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,287

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,222
Loan Amount $261,666
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,862

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,483

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4004$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 2421 Sunrise Springs Court North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.78
    •  
  • 2913 Honeysuckle North Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,594 Sqft ∙ Built 2003
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 2418 Spanish Fork Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,729 Sqft ∙ Built 1999
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.81
    •  
  • 5127 Marshall Island Court North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 1999
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 5438 Cypress Creek Street Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,882 Sqft ∙ Built 1998
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kara Faine
1.725.780.0448
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2251309
Last Updated: 11/30/2020
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