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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $254.24
- 5 Days on Market
- MLS # : 2261396
- Updated Date : 01/15/2021 at 21:07
CONSTRUCTION
- Beds : 4
- Floor Size : 2,478 sqft
- Baths : 3 full
Listing Agent
Money Street Realty
Listing Agent's Description
WOW!! NO HOA 1/2 Acre Living has it all. Tennis court - Illuminated and resurfaced. 2 a/c units. New kitchen with Stainless Steel appliances, Granite counters and soft close cabinets. New wood look flooring. Updated bathrooms. New Paint inside and out. Plantation blinds. Guest Suite/ office with private entrance and patio. New Huge Renewal by Anderson "SunSense" picture window with a view. Brinks alarm system. Swann 4k security camera system. New washer/Dryer. Very open floorplan with Huge family room for hanging out and entertaining. Pool (11 ft deep)/ Spa. Mature landscaping includes: Citrus Trees - Rose bushes - grass front and back - mature shrubs - Huge Mulberry tree - complete irrigation - dog run area - Landscape lighting. RV parking and hookups w/ 50 amp service and septic access. 3 car garage with 220/25 amp plug (great for electric vehicle). Very desirable area in Spring Valley known as "the hidden jewel of the valley". Many more items to see.
SEE MORE
- 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: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Spring Valley
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,240 |
| EXPENSES | Loan Payment | -$2,188 |
| Property Tax | -$288 | |
| Property Insurance | -$75 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$430
|
||
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.
$630,000
PROJECTED PRICE
$2,240
PROJECTED RENT
0.36%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$172,700
LOAN DETAILS
$2,188
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $157,500 |
| Loan Amount | $472,500 |
2.42
YEARS SAVED
$10,845
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,240
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$2,354
COMP ESTIMATED VALUE -
$0.95
COMP AVG. RENT PER SQFT
Comps Range
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2660 Bronco Street Las Vegas, NV 3
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6409 Peppermill Drive Las Vegas, NV 2
- 3 beds 2 baths ∙ 2,342 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,342 Sqft ∙ Built 1984
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- $2,150
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2925 Torrey Pines Drive Las Vegas, NV 4
- 3 beds 2 baths ∙ 2,331 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,331 Sqft ∙ Built 1978
LEASED 08/28/20- Rent
- Rent Per SQFT
- $2,300
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2825 Bronco Las Vegas, NV 5
- 4 beds 2 baths ∙ 2,566 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,566 Sqft ∙ Built 1985
LEASED 05/19/20- Rent
- Rent Per SQFT
- $2,650
- $1.03
PROPERTY LISTING DETAILS
1.702.469.8223
Money Street Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2261396
Last Updated: 01/15/2021
