Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2575 Iron Crest Lane Las Vegas, NV 89138

4 Beds 4 Baths 2,334 sqft Built 2019

$659,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $282.35
  • 3 Days on Market
  • MLS # : 2261340
  • Updated Date : 01/16/2021 at 19:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,334 sqft
  • Baths : 3 full , 1 half
Listing Agent

Simply Vegas

Listing Agent's Description

Beautiful gated home in the desirable Reverence! This upgraded home features 4 bedrooms, 4 bathrooms and a huge loft. The primary bedroom is located on the first floor with newly updated flooring and large walk-in closet. Owners made this their second home. Kitchen has new custom quartz island and sink. New carpet on staircase and entire second floor. Updated light fixtures downstairs. Automatic designer window covering. This home comes with a water softener and alarm system. Backyard is gorgeous! Pool has a waterfall and automatic cover. Covered patio with fireplace. No backyard neighbors and one of the best mountain views this neighborhood has to offer.. THIS IS A MUST SEE!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k476k

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

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10762575

* 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
 

$593,100$724,900$659,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$2,289
Property Tax -$462
Property Insurance -$72
Property Management Fees -$119
CASH FLOW
-$632

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.

$659,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.35%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$180,385

INVESTMENT

$180,385

Down Payment
$164,750
Rehab Estimate
$5,750
Closing Costs
$9,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,289

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $164,750
Loan Amount $494,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,880

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,439

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,310
1$2,3102$2,4003$2,6004$2,6005$2,600
$2,600
RENT COMPS ANALYSIS
  • 2575 Iron Crest Lane Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,334 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,334 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.99
    •  
  • 2409 Sierra Heights Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1999
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 2641 Iron Crest Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2018
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.98
    •  
  • 2604 Iron Crest Lane Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
  • 10941 Terra Azul Place Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2018
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.09
    •  
PROPERTY LISTING DETAILS
John M Fiore
1.702.290.9053
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261340
Last Updated: 01/16/2021
BESbswy