Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $170.16
- 4 Days on Market
- MLS # : 2252299
- Updated Date : 12/04/2020 at 09:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,763 sqft
- Baths : 2 full , 1 half
Listing Agent
Southwest Real Estate Llc
Listing Agent's Description
SMOKE RANCH COMMUNITY- Renovated 3 Bedroom, 2.5 Bath 2 Story home w/ 2 Car Garage. Come view this corner house gem! Property features freshly painted exterior with new landscaping including synthetic grass. This was completed by the SNWA's Water Smart Landscapes program to help keep water bills efficient. Inside has been freshly painted from top to bottom w/ popcorn ceilings removed, new carpet, new blinds, new quartz counters installed throughout w/ new undermounted sinks, new brushed nickel fixtures from lights to faucets and door handles, and new stainless steel kitchen appliances. Primary Bedroom is on the 1st floor with w/ attached bath that has dual sinks, new framed vanity mirrors and a separate tub/shower. There is also a half bath on the first floor. 2nd floor has a loft and the 2 secondary bedrooms separated by a full bath.
SEE MORE
- 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
Zip Code: 89108
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 89108
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,460 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$163 | |
| Property Insurance | -$61 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$10
|
||
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.
$300,000
PROJECTED PRICE
$1,460
PROJECTED RENT
0.49%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| 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
$85,250
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $75,000 |
| Loan Amount | $225,000 |
5.67
YEARS SAVED
$22,399
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,460
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,468
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
2705 Ironside Drive Las Vegas, NV 4
- 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,763 Sqft ∙ Built 1989
- Rent
- Rent Per SQFT
- $1,460
- $0.83
-
2764 Trotwood Lane #2764 Las Vegas, NV 1
- 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,601 Sqft ∙ Built 1992
LEASED 03/11/20- Rent
- Rent Per SQFT
- $1,250
- $0.78
-
2700 Chokeberry Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 1993
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,395
- $0.82
-
2629 Shakespeare Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1990
LEASED 05/29/20- Rent
- Rent Per SQFT
- $1,450
- $0.89
-
2633 Island Brook Drive Las Vegas, NV 5
- 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,836 Sqft ∙ Built 1990
LEASED 05/20/20- Rent
- Rent Per SQFT
- $1,550
- $0.84
PROPERTY LISTING DETAILS
1.702.400.7100
Southwest Real Estate Llc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2252299
Last Updated: 12/04/2020
