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2629 Slide Canyon Avenue North Las Vegas, NV 89081

4 Beds 3 Baths 3,182 sqft Built 2006

$379,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $119.39
  • 4 Days on Market
  • MLS # : 2243847
  • Updated Date : 10/31/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,182 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

SPACIOUS WESTERN STYLE HOME IN A CORNER LOT!! LOCATED IN A SMALL GATED COMMUNITY NEAR SHOPPING, DINING, VA HOSPITAL & EASY ACCESS TO MAJOR HWYS. THIS BEAUTIFUL HOME HAS LOTS OF ROOM FOR EVERYONE TO ENJOY. DOWNSTAIRS HAS TILE FLOORS, FORMAL DINING ROOM, SEPARATE LIVING & FAMILY ROOMS. NEWLY TRANSFORMED KITCHEN CABINETS HIGHLIGHTS THE STAINLESS STEEL APPLIANCES & THEY ARE ALL INCLUDED. MASTER BEDROOM IS HUGE WITH SITTING ROOM/OFFICE & 3-WAY FIREPLACE. DELUXE MASTER BATH WITH SOAKER TUB, SEPARATE SHOWER, HIS & HERS SINK VANITY & WALK-IN CLOSET. GOOD SIZED GUEST BEDROOMS, FULL BATHROOM & LOFT COMPLETES THE UPSTAIRS PORTION OF THIS HOME. BACKYARD HAS SYNTHETIC GRASS & GRAVEL LANDSCAPING. THIS HOME ALSO HAS SOLAR PANELS THAT THE SELLER WILL PAY OFF AT CLOSING.

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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
Carroll M Johnston Middle School Middle Regular 1,365 58 NA
Legacy High School High Regular 2,819 119 3

John Tartan Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
3
GreatSchools Rating

Carroll M Johnston Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 58
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,402
Property Tax -$331
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$131

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.

$379,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.48%

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$15k

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$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$13,954

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8103$1,9254$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 2629 Slide Canyon Avenue North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,182 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,182 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.57
    •  
  • 5604 Pacesetter Street North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,942 Sqft ∙ Built 2005
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.61
    •  
  • 2525 Cattrack North Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,080 Sqft ∙ Built 2006
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.63
    •  
  • 2132 Leatherbridge Court Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,043 Sqft ∙ Built 2012
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 5638 Red Roof Street North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 3,289 Sqft ∙ Built 2006 3 beds 2 baths ∙ 3,289 Sqft ∙ Built 2006
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.61
    •  
PROPERTY LISTING DETAILS
Kaori S Guerra
1.702.496.7372
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243847
Last Updated: 10/31/2020
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