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2700 Evolutionary Lane Las Vegas, NV 89138

5 Beds 4 Baths 2,717 sqft Built 2018

$650,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $239.23
  • 5 Days on Market
  • MLS # : 2242607
  • Updated Date : 11/05/2020 at 20:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,717 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Sophisticated, Sleek, AMAZING VIEWS with Pool & Spa! Infused with an air of contemporary refinement, this meticulous, spectacular 2 story Pulte Home is distinguished by a sweeping suite of the right balance of rooms including den/office, expansive open family room, stunning gourmet kitchen boasts custom cabinetry and counters, separate nook and breakfast bar. This versatile layout offers large master suite with luxurious spa style bath featuring separate shower and soaking tub, 5 bedrooms in total all with ceiling fans -- 1 downstairs ensuite -- as well as loft/playroom upstairs. Beautiful hardwood floors, quality carpet, built in surround sound, custom patio and more. Must see this turn-key home to appreciate it!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $119k476k

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

Zip Code: 89138

ZipNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10762575

* 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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$2,398
Property Tax -$530
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$647

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.

$650,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.38%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,858

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,418

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,2003$2,4804$2,5005$3,000
$3,000
RENT COMPS ANALYSIS
  • 2700 Evolutionary Lane Las Vegas, NV 3
    • 5 beds 4 baths ∙ 2,717 Sqft ∙ Built 2018 5 beds 4 baths ∙ 2,717 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.91
    •  
  • 10597 Hamdem Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2013
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 10560 Griffin Las Vegas, NV 2
    • 5 beds 2 baths ∙ 2,424 Sqft ∙ Built 2013 5 beds 2 baths ∙ 2,424 Sqft ∙ Built 2013
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 2592 Iron Crest Lane Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 2018
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 2682 Evolutionary Lane Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,059 Sqft ∙ Built 2018 4 beds 4 baths ∙ 3,059 Sqft ∙ Built 2018
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
PROPERTY LISTING DETAILS
Brian Perrico
1.702.595.9134
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2242607
Last Updated: 11/05/2020
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