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2535 Parasail Point Avenue North Las Vegas, NV 89031

3 Beds 2 Baths 1,772 sqft Built 1999

$255,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $143.91
  • 4 Days on Market
  • MLS # : 2259900
  • Updated Date : 01/08/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,772 sqft
  • Baths : 2 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Great home in a wonderful North Las Vegas location! Hard to find one story home with RV parking. Home needs a little TLC, it has a great floor plan. Beautiful hardwood floors throughout the homes, minor cosmetics needed. Home is located in a culdesac, over sized lot. Must see before it is gone!!! Well worth the investment!!!

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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: Tierra de las Palmas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Tierra de las Palmas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9621603

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$886
Property Tax -$219
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
$215

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.

$255,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.7%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$33,924

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,511

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4753$1,5004$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 2535 Parasail Point Avenue North Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 5030 Great Abaco Street #0 North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2000
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 2805 Bahama Point Avenue North Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2000
    property image
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.91
    •  
  • 2801 Bahama Point Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2000
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 2917 Pumpkin Harvest Avenue North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 1,887 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,887 Sqft ∙ Built 2002
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
PROPERTY LISTING DETAILS
Valentina A Rodriguez
1.702.595.0898
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259900
Last Updated: 01/08/2021
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