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2505 Great Auk Avenue North Las Vegas, NV 89084

3 Beds 2 Baths 1,246 sqft Built 2008

$319,900

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $256.74
  • 3 Days on Market
  • MLS # : 2278376
  • Updated Date : 03/13/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,246 sqft
  • Baths : 2 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Single story home in Sun City Aliante! Stainless appliances! Large tile flooring and carpet in bedrooms! Backyard with covered patio! Solar panels on the roof to soak up those rays for green energy! Ceiling fans throughout! Come see today!!

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 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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$1,111
Property Tax -$217
Property Insurance -$51
Property Management Fees -$119
CASH FLOW
-$279

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.

$319,900

PROJECTED PRICE

$1,220

PROJECTED RENT

0.38%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,209

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,3953$1,4004$1,4005$1,575
$1,575
RENT COMPS ANALYSIS
  • 2505 Great Auk Avenue North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,246 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.98
    •  
  • 7908 Broadwing Drive #n/a North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2005
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.98
    •  
  • 6904 Dipper Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2004
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 3512 Herring Gull Lane North Las Vegas, NV 4
    • 3 beds 1 baths ∙ 1,420 Sqft ∙ Built 2004 3 beds 1 baths ∙ 1,420 Sqft ∙ Built 2004
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 7404 Petrel Street #0 North Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,570 Sqft ∙ Built 2007 3 beds 1 baths ∙ 1,570 Sqft ∙ Built 2007
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.00
    •  
PROPERTY LISTING DETAILS
Andrew J Grasso
1.702.400.4782
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278376
Last Updated: 03/13/2021
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