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2619 Joseph Canyon Drive Las Vegas, NV 89142

5 Beds 3 Baths 1,833 sqft Built 2000

$277,500

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $151.39
  • 7 Days on Market
  • MLS # : 2247071
  • Updated Date : 11/13/2020 at 12:13
CONSTRUCTION
  • Beds : 5
  • Floor Size : 1,833 sqft
  • Baths : 3 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Beautiful 5Bedroom, 3 Full Bathrooms. Guest bedroom downstairs with full bath. Homes offers a separate formal living or family room. Front entry door has a security door attached, as well as security gates on all downstairs window's. Hot water heater nearly new installed in 2016 Home has a water softener system all ready to go. Backyard offers an amazing view of the strip with an oversized deck added for your families enjoyment. At this price it won't last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Mervin Iverson Elementary School Primary Regular 870 43 7
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Las Vegas High School High Regular 3,077 121 4

Mervin Iverson Elementary School

  • Education Level: Primary
  • # of students: 870
  • # of teachers: 43
7
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Las Vegas High School

  • Education Level: High
  • # of students: 3,077
  • # of teachers: 121
4
GreatSchools Rating
 

$249,750$305,250$277,500

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$1,024
Property Tax -$183
Property Insurance -$63
Property Management Fees -$119
CASH FLOW
$161

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.

$277,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,288

INVESTMENT

$79,288

Down Payment
$69,375
Rehab Estimate
$5,750
Closing Costs
$4,163

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,024

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,375
Loan Amount $208,125
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$36,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,5503$1,5954$1,5955$1,650
$1,650
RENT COMPS ANALYSIS
  • 2619 Joseph Canyon Drive Las Vegas, NV 2
    • 5 beds 3 baths ∙ 1,833 Sqft ∙ Built 2000 5 beds 3 baths ∙ 1,833 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
  • 2565 Madre Grande Las Vegas, NV 1
    • 4 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,719 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.76
    •  
  • 2755 Council Crest Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 5983 Clover Canyon Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,886 Sqft ∙ Built 2004
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 5918 Sleepy Fawn Drive #n/a Las Vegas, NV 5
    • 5 beds 3 baths ∙ 1,886 Sqft ∙ Built 2005 5 beds 3 baths ∙ 1,886 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
PROPERTY LISTING DETAILS
Susan C Stoxstell
1.702.945.1069
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2247071
Last Updated: 11/13/2020
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