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2537 Cattrack Avenue North Las Vegas, NV 89081

5 Beds 3 Baths 3,080 sqft Built 2006

$475,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $154.22
  • 3 Days on Market
  • MLS # : 2278133
  • Updated Date : 03/13/2021 at 18:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,080 sqft
  • Baths : 3 full
Listing Agent

Monopoly Realty & Mgmt Inc

Listing Agent's Description

Absolutely stunning strip views accompany this large 5 bedroom, 3 bath, 2 car garage home with POOL & no rear neighbor! Home is located inside of a gated community & features a well desired elevation with porte-cochere to the backyard with tons of additional parking! Kitchen has been upgraded with extended island/breakfast bar, Quartz counters, tile back-splash, SS APPLIANCES, & walk-in pantry. Good size family room, formal dining, and formal living room. ENORMOUS main suite with balcony, bath with tub, shower, & walk-in closet! Loft also has entrance to balcony & provides good separation between main suite and secondary bedrooms + FULL bed & bath downstairs! Laundry room with additional fridge. Backyard with covered patio, & large pool with gazebo perfect for entertaining!

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: Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $84k393k

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

Neighborhood: Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9651692

* 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
John Tartan Elementary School Primary Regular 637 37 3
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,650
Property Tax -$340
Property Insurance -$87
Property Management Fees -$119
CASH FLOW
-$246

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.

$475,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.8%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,625

INVESTMENT

$131,625

Down Payment
$118,750
Rehab Estimate
$5,750
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,917

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9254$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 2537 Cattrack Avenue North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.63
    •  
  • 2117 Grovestand Avenue North Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,043 Sqft ∙ Built 2013 5 beds 3 baths ∙ 3,043 Sqft ∙ Built 2013
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.59
    •  
  • 5645 Wedgefield North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,979 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,979 Sqft ∙ Built 2005
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
  • 2525 Cattrack North Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.63
    •  
  • 2132 Leatherbridge Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2012
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
PROPERTY LISTING DETAILS
Mickey G Karacsonyi
1.702.375.8978
Monopoly Realty & Mgmt Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2278133
Last Updated: 03/13/2021
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