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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $155.41
- 6 Days on Market
- MLS # : 2248842
- Updated Date : 11/20/2020 at 08:46
CONSTRUCTION
- Beds : 4
- Floor Size : 1,866 sqft
- Baths : 3 full
Listing Agent
Exp Realty
Listing Agent's Description
Gorgeous 2 story 4 bedroom home with low maintenance desert landscaping and NO HOA! Walk inside to beautiful laminate flooring throughout the first floor, laundry room, and downstairs bedroom with ceiling fan and bathroom and freshly painted throughout! Spacious living room features a ceiling fan/light, gas fireplace, and is open to the kitchen that boasts stainless steel appliances, garden window, granite countertops, and breakfast counter. Sliding door entry from the living room leads you to a private backyard with rear lawn and so much space! Upstairs features 3 bedrooms all with ceiling fan/lights. 2 secondary bedrooms with a jack and jill bathroom and charming master bedroom featuring walk in closet and master bathroom with double sinks and shower/tub combo. *NEW A/C* This home won't last long, VIEW TODAY!
SEE MORE
- 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: Panorama
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Panorama
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,600 |
| EXPENSES | Loan Payment | -$1,070 |
| Property Tax | -$167 | |
| Property Insurance | -$63 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$181
|
||
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.
$290,000
PROJECTED PRICE
$1,600
PROJECTED RENT
0.55%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 10.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$82,600
LOAN DETAILS
$1,070
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $72,500 |
| Loan Amount | $217,500 |
8.67
YEARS SAVED
$39,721
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,600
LIST RENT -
$0.86
LIST RENT PER SQFT
-
$1,563
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
2567 Cactus Hill Drive Las Vegas, NV 4
- 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $1,600
- $0.86
-
6434 Elwood Mead Avenue #103 Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007
LEASED 03/13/20- Rent
- Rent Per SQFT
- $1,300
- $0.77
-
6045 Stone Hollow Avenue Las Vegas, NV 2
- 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,649 Sqft ∙ Built 2001
LEASED 10/13/20- Rent
- Rent Per SQFT
- $1,350
- $0.82
-
6448 Elwood Mead Avenue #103 Las Vegas, NV 3
- 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,685 Sqft ∙ Built 2007
LEASED 11/17/20- Rent
- Rent Per SQFT
- $1,350
- $0.80
-
2462 Cavern Cove Way Las Vegas, NV 5
- 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 1993
LEASED 03/12/20- Rent
- Rent Per SQFT
- $1,795
- $0.96
PROPERTY LISTING DETAILS
1.702.310.6683
Exp Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248842
Last Updated: 11/20/2020
