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2653 Star Manor Street North Las Vegas, NV 89030

4 Beds 3 Baths 2,743 sqft Built 2007

$309,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2007
  • Price/Sqft : $112.98
  • 48 Days on Market
  • MLS # : 2232573
  • Updated Date : 10/29/2020 at 23:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,743 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Great 2 story/4 bedroom house to live in. Spacious first floor with family room, dining room and living room all beautifully connected. Kitchen has a breakfast bar and island. Upstairs there is one big master bedroom with a full double sink bathroom connected and make up area. Good sized back yard.

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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: Starwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Starwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8381603

* 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
H.p. Fitzgerald Elementary School Primary Regular 431 29 3
West Preparatory Instititute School For Academic Excellence Middle Regular 1,353 64 7
West Preparatory Instititute School For Academic Excellence High Regular 1,353 64 7

H.p. Fitzgerald Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 29
3
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: Middle
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating

West Preparatory Instititute School For Academic Excellence

  • Education Level: High
  • # of students: 1,353
  • # of teachers: 64
7
GreatSchools Rating
 

$278,910$340,890$309,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$1,143
Property Tax -$254
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$57

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.

$309,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$15,717

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.56

    LIST RENT PER SQFT
  • $1,598

    COMP ESTIMATED VALUE
  • $0.58

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5403$1,6004$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 2653 Star Manor Street North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,743 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,743 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.56
    •  
  • 1225 Rainy Sky Avenue North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 2007
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.55
    •  
  • 3844 Blue Gull Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,590 Sqft ∙ Built 2001
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.62
    •  
  • 2657 Star Manor Street North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 2007
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.58
    •  
  • 2402 Endearing Court North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,948 Sqft ∙ Built 2015
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.58
    •  
PROPERTY LISTING DETAILS
Blanca Lipson
1.702.400.6198
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2232573
Last Updated: 10/29/2020
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