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2565 Legend Drive Las Vegas, NV 89134

2 Beds 1 Baths 1,804 sqft Built 1989

$465,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $257.76
  • 5 Days on Market
  • MLS # : 2257559
  • Updated Date : 12/24/2020 at 10:00
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,804 sqft
  • Baths : 1 full
Listing Agent

Silver Dome Realty

Listing Agent's Description

Gorgeous, home with rare golf course frontage and mountain views in Sun City Summerlin. Spacious formal living room with vaulted ceilings, tile entry, pot shelf, & crystal chandelier. Separate family room with a gas fireplace with a brick hearth, vaulted ceiling, pot shelf and ceiling fan. Kitchen with tile floor, custom oak cabinets & built-in desk, eating bar, and breakfast nook with bay windows. Appliances include gas cooktop & built in electric oven, & new side by side refrigerator included. Primary bedroom has vaulted ceiling, ceiling fan with light, pot shelf, walk-in closet & a 2nd closet both with mirrored doors. Primary bathroom has vaulted ceiling double sinks & walk-in shower. Screened porch 17'x9' with ceiling fan and 21'x10' covered patio. Large laundry room with tile floor, sink, cabinets, counter top, & washer & dryer included. 2 car oversize garage with room for a golf cart. Storage cabinets included. Raised panel doors. Shutters and blinds throughout.

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
 

$418,500$511,500$465,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,716
Property Tax -$273
Property Insurance -$62
Property Management Fees -$119
CASH FLOW
-$360

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.

$465,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.39%

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$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$128,975

INVESTMENT

$128,975

Down Payment
$116,250
Rehab Estimate
$5,750
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,716

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,400

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,831

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7504$1,8005$1,810
$1,810
RENT COMPS ANALYSIS
  • 2565 Legend Drive Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,804 Sqft ∙ Built 1989 2 beds 1 baths ∙ 1,804 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.00
    •  
  • 2825 Greenview Court Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1988 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1988
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 9104 Sundial Drive #0 Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,653 Sqft ∙ Built 1990 2 beds 1 baths ∙ 1,653 Sqft ∙ Built 1990
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
  • 9617 Gold Bank Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,653 Sqft ∙ Built 1990
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 2528 Desert Glen Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,804 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,804 Sqft ∙ Built 1990
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Shari A Springer
1.702.521.9901
Silver Dome Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2257559
Last Updated: 12/24/2020
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