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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $97.86
- 7 Days on Market
- MLS # : 2253463
- Updated Date : 12/11/2020 at 18:36
CONSTRUCTION
- Beds : 5
- Floor Size : 3,934 sqft
- Baths : 3 full
Listing Agent
Compass Realty & Management, L
Listing Agent's Description
This Spacious 5 bedrooms/3 full bathrooms/3 car garage home has so much to offer ** Great Open Floor Plan ** Front Gated Courtyard ** One Bedroom Downstairs w/full bath ** Separate living and family rooms w/tile throughout the entire downstairs ** 4 bedrooms plus Huge loft upstairs can be 2nd family room/game room ** Master suite w/big double walk-in closets ** Gourmet island kitchen w/granite countertops & back splash ** Ceiling fans ** Low maintenance landscaping ** Walking distance to the community parks, playgrounds, outdoor sports areas ** Convenient to schools, shopping and much much more ** A bargain at this price for all this space! At this price point you can't beat this price in this great community!
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: Sierra Racnch Villages
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sierra Racnch Villages
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,000 |
| EXPENSES | Loan Payment | -$1,420 |
| Property Tax | -$364 | |
| Property Insurance | -$103 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$7
|
||
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.
$385,000
PROJECTED PRICE
$2,000
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 10.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| 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
$107,775
LOAN DETAILS
$1,420
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $96,250 |
| Loan Amount | $288,750 |
5.17
YEARS SAVED
$24,109
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,000
LIST RENT -
$0.51
LIST RENT PER SQFT
-
$2,056
COMP ESTIMATED VALUE -
$0.52
COMP AVG. RENT PER SQFT
Comps Range
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LEASED 09/01/19- Rent
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- $2,000
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209 Summit Creek Avenue North Las Vegas, NV 4
- 4 beds 3 baths ∙ 3,856 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,856 Sqft ∙ Built 2007
LEASED 12/18/19- Rent
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- $2,045
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6071 Silken Saddle Street North Las Vegas, NV 5
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LEASED 03/02/20- Rent
- Rent Per SQFT
- $2,100
- $0.53
PROPERTY LISTING DETAILS
1.702.372.9387
Compass Realty & Management, L
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2253463
Last Updated: 12/11/2020
