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2616 Cattrack Avenue North Las Vegas, NV 89081

4 Beds 3 Baths 2,628 sqft Built 2006

$369,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $140.75
  • 2 Days on Market
  • MLS # : 2242526
  • Updated Date : 11/02/2020 at 15:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,628 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prominent Realty Group Llc

Listing Agent's Description

Beautiful spacious 4 bedroom 2.5 Bath home In Gated community with Sparling swimming pool and Spa. Open floor plan, Kitchen with center island and pantry. Spacious living room with niche. Huge upstairs loft. Spacious Primary bedroom is downstairs. Primary bathroom with separate tub, shower and double sinks...... This is a must see.

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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: 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
 

$332,910$406,890$369,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$1,365
Property Tax -$288
Property Insurance -$78
Property Management Fees -$119
CASH FLOW
-$220

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.

$369,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.44%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$8,157

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,629

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6304$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2616 Cattrack Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.62
    •  
  • 2513 Cattrack Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2006
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.61
    •  
  • 2609 Park Hyatt Avenue #0 Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2006
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.62
    •  
  • 5708 Clarendon Lane #0 North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2005
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.63
    •  
  • 5646 Saint Elias Street North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2006
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.62
    •  
PROPERTY LISTING DETAILS
Roy Buscema
1.702.340.4192
Prominent Realty Group Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242526
Last Updated: 11/02/2020
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