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2509 Springbrook Drive Las Vegas, NV 89134

2 Beds 3 Baths 1,402 sqft Built 1994

$345,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $246.08
  • 9 Days on Market
  • MLS # : 2246675
  • Updated Date : 11/12/2020 at 16:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,402 sqft
  • Baths : 2 full , 1 half
Listing Agent

Sunrise Real Estate

Listing Agent's Description

Home was renovated approx. 3 years ago with Custom Cabinets, Granite Countertops, Stainless Steel Sink & Appliances, New Faucets, Tiled Floors everywhere except bedrooms are Wood. Bedroom 2 has a walk-in closet built in. SOLAR PANELS ON ROOF FOR LOWER UTILITY BILLS. All lighting fixtures inside and outside have been replaced, New stainless hardware and door handles. Ceiling Fans & Chandeliers. All top of the line appliances. Custom Master Bath/ Walk-in, All window coverings top of the line. SEPARATE BEDROOMS.....one on each side of the home for privacy. Security Door in Front. Large Extended Covered Patio, Beautiful Landscaping Front , and a TERRACED Rear Landscaping walls. Full Two Car Garage With Auto Opener and Water Softener. Gas BB-Q Stub on Rear Patio. This HOME IS A PERFECT 10! CLEAN CLEAN CLEAN & ready for you to move into!!!

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$1,273
Property Tax -$214
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$100

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.

$345,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.45%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$18,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5504$1,5605$1,750
$1,750
RENT COMPS ANALYSIS
  • 2509 Springbrook Drive Las Vegas, NV 4
    • 2 beds 3 baths ∙ 1,402 Sqft ∙ Built 1994 2 beds 3 baths ∙ 1,402 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.11
    •  
  • 2717 Lotus Hill Drive Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1992 2 beds 2 baths ∙ 1,384 Sqft ∙ Built 1992
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 2549 Banora Point Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 1995
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 10033 Cresent Creek Drive Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,388 Sqft ∙ Built 1994 2 beds 1 baths ∙ 1,388 Sqft ∙ Built 1994
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 2501 Keppel Sands Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,533 Sqft ∙ Built 1994 2 beds 2 baths ∙ 1,533 Sqft ∙ Built 1994
    property image
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
PROPERTY LISTING DETAILS
Edward L Paliotta
1.702.768.5808
Sunrise Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2246675
Last Updated: 11/12/2020
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