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2600 Desert Glen Drive Las Vegas, NV 89134

2 Beds 1 Baths 1,384 sqft Built 1990

$325,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $234.83
  • 8 Days on Market
  • MLS # : 2242758
  • Updated Date : 10/27/2020 at 15:30
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,384 sqft
  • Baths : 1 full
Listing Agent

Ballard Realty Group

Listing Agent's Description

Popular Sandalwood model in Sun City Summerlin. Double door entry to living room with view of landscaped and fenced in backyard. Vaulted ceiling. Separate dining room in living area. Carpet is two years old. Kitchen with ample cabinets, hard surface counter tops and flooring. Spacious breakfast nook, bay window and sliding glass doors to backyard. Multi purpose room or den off nook with ceiling fan and entry to garage. Main bedroom with bay window, ceiling fan and walk in closet. Secondary bedroom with ceiling fan. Large covered patio in backyard. Two car garage with storage, direct access into home, washer and dryer hookup plus sink. Washer, dryer and stove are two years old.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,199
Property Tax -$200
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$162

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.

$325,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.43%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,872

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,474

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3753$1,4104$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 2600 Desert Glen Drive Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.02
    •  
  • 2852 Bluff Point Drive Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 1991 2 beds 1 baths ∙ 1,188 Sqft ∙ Built 1991
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.09
    •  
  • 2420 Desert Butte Drive Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 1991 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 1991
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
  • 2409 Indian Hollow Court Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 2508 Desert Sands Drive Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Debra D Ballard
1.702.491.2725
Ballard Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242758
Last Updated: 10/27/2020
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