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2621 Desert Sands Drive Las Vegas, NV 89134

2 Beds 1 Baths 1,384 sqft Built 1990

INVESTimate

$339,900

List Price

$1,440

$1,296 - $1,584

Rent Est.

$370,661  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $245.59
  • 9 Days on Market
  • MLS # : 2223459
  • Updated Date : 08/25/2020 at 17:42
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,384 sqft
  • Baths : 1 full
Listing Agent

Home Realty Center

Listing Agent's Description

Beautiful remodeled 2BD 2 BTH Sandalwood model home in Sun City Summerlin. Unsurpassed distinctive curb appeal with artificial grass and “real” barrel cactus front yard lead you to ornamental wrought iron trimmed front porch. Decorative rock trimmed exterior enhances the recently painted exterior of the home. Open floor plan with hard-finishes on all floors. Carefully chosen granite slab counter tops in the brightly lit kitchen with a sliding door to the outside. Laundry moved to garage allows for expanded kitchen that has so many uses maybe an office, craft-room? There are many cabinets in this space as well as tons of storage in the home and garage. Newer HVAC system and kitchen appliances. LG refrigerator, Maytag range and microwave. A list of enhancements is available. Ceiling fans throughout the home and in garage and rear patio. Large patio has retractable awning for all weather entertaining. The Sun City Summerlin lifestyle with 4 clubhouses and 3 golf courses awaits YOU!

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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

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
 

$305,910$373,890$339,900

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

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$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$1,254
Property Tax -$178
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$166

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.

$339,900

PROJECTED PRICE

$1,440

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,505

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4403$1,4954$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 2621 Desert Sands Drive Las Vegas, NV 2
    • 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990 2 beds 1 baths ∙ 1,384 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.04
    •  
  • 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
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.09
    •  
  • 2753 Sungold Drive Las Vegas, NV 3
    • 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 1990 2 beds 2 baths ∙ 1,359 Sqft ∙ Built 1990
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.10
    •  
  • 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
    property image
    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
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
PROPERTY LISTING DETAILS
Michael E Delgais
1.702.252.7400
Home Realty Center
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223459
Last Updated: 08/25/2020
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