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263 Bamboo Forest Place Las Vegas, NV 89138

2 Beds 1 Baths 1,687 sqft Built 2003

INVESTimate

$400,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$427,560  ( +6.89%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $237.11
  • 16 Days on Market
  • MLS # : 2220444
  • Updated Date : 08/24/2020 at 12:23
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,687 sqft
  • Baths : 1 full
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Summerlin Single Story on Corner Lot! Pulte All Single Story Neighborhood. Close to Parks, Downtown Summerlin and Freeway Access. Plantation Shutters Throughout. Granite Counters. Tile Flooring and Upgraded Carpeting. Just Add Closet to Make Den a Third Bedroom. Open Greatroom Floorplan with Fireplace. Owner's Suite Offers an Oversized Walk-in Shower. Mature Landscaping and Covered Patio. Walk to Parks. No SIDS - paid in full.

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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: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k457k

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

Neighborhood: The Vistas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10762145

* 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
Linda Rankin Givens Elementary School Primary Regular 1,100 52 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Linda Rankin Givens Elementary School

  • Education Level: Primary
  • # of students: 1,100
  • # of teachers: 52
9
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$1,530$1,870$1,700

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$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,476
Property Tax -$263
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
-$218

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.

$400,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.89%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$13,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,911

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,7004$2,0505$2,095
$2,095
RENT COMPS ANALYSIS
  • 263 Bamboo Forest Place Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,687 Sqft ∙ Built 2003 2 beds 1 baths ∙ 1,687 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.01
    •  
  • 11252 Sandrone Las Vegas, NV 1
    • 2 beds 3 baths ∙ 1,432 Sqft ∙ Built 2002 2 beds 3 baths ∙ 1,432 Sqft ∙ Built 2002
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 11024 Linden Leaf Avenue Las Vegas, NV 2
    • 2 beds 3 baths ∙ 1,366 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,366 Sqft ∙ Built 2001
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.10
    •  
  • 705 Indian Garden Street Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,543 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,543 Sqft ∙ Built 2004
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.33
    •  
  • 128 Torchwood Lane #00 Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,973 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,973 Sqft ∙ Built 2000
    property image
    LEASED 02/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.06
    •  
PROPERTY LISTING DETAILS
Natalie K Cornejo
1.702.807.7667
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2220444
Last Updated: 08/24/2020
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