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2705 Cuckoo Shrike Avenue North Las Vegas, NV 89084

2 Beds 1 Baths 1,570 sqft Built 2007

$360,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $229.30
  • 2 Days on Market
  • MLS # : 2268141
  • Updated Date : 02/07/2021 at 04:55
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,570 sqft
  • Baths : 1 full
Listing Agent

Realty One Group, Inc

Listing Agent's Description

Highly upgraded Laurel model starting with its amazing curb appeal. All paved driveway and open courtyard, decorative security door. Open floorplan with tile flooring throughout main areas, island kitchen, granite countertop, stainless steel appliances, decorative lighting throughout. The primary bedroom has an oversize walk-in closet and all bedrooms have laminate flooring, ceiling light/fan, self-monitoring system. Private/fenced backyard with extended covered patio and pavers. Relax in your private spa. Some furnishing is available for purchase with a separate bill of sale. Close walk to Aliante casino and park.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k308k

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

Neighborhood: Sun City Aliante

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Vincent L. Triggs Elementary School Primary Regular 761 40 7
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Shadow Ridge High School High Regular 2,697 105 6

Vincent L. Triggs Elementary School

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 40
7
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$1,250
Property Tax -$244
Property Insurance -$58
Property Management Fees -$119
CASH FLOW
-$171

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.

$360,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,335

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,519

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5004$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 2705 Cuckoo Shrike Avenue North Las Vegas, NV 3
    • 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2007 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 3615 Herring Gull Lane Las Vegas, NV 1
    • 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2004
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 7628 Fieldfare Drive #n/a North Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,570 Sqft ∙ Built 2005 2 beds 2 baths ∙ 1,570 Sqft ∙ Built 2005
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 7904 House Sparrow Street North Las Vegas, NV 4
    • 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2004 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2004
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 2236 Night Parrot Avenue North Las Vegas, NV 5
    • 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2007 2 beds 1 baths ∙ 1,570 Sqft ∙ Built 2007
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.00
    •  
PROPERTY LISTING DETAILS
Juliet D Hebert
1.702.205.4816
Realty One Group, Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2268141
Last Updated: 02/07/2021
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