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271 Arbour Garden Avenue Las Vegas, NV 89148

3 Beds 2 Baths 2,055 sqft Built 2002

$587,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $285.64
  • 8 Days on Market
  • MLS # : 2253884
  • Updated Date : 12/06/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,055 sqft
  • Baths : 2 full
Listing Agent

Starks Homes Llc

Listing Agent's Description

Hard to find Single story on the Golf Course with a sparkling pool. Step into this spacious relaxing home to soothe that stress away. When you first step into the Great room it will inspire every one to enjoy the views. What a charmer this one is. Just beyond your private pool is the fairway. Once you step in, the feeling you get is you will not want to leave. Even the Directions are right, right, right.

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$528,300$645,700$587,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$2,166
Property Tax -$384
Property Insurance -$67
Property Management Fees -$119
CASH FLOW
-$405

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.

$587,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

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$161,305

INVESTMENT

$161,305

Down Payment
$146,750
Rehab Estimate
$5,750
Closing Costs
$8,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,166

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $146,750
Loan Amount $440,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,669

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$1,9504$2,0005$2,330
$2,330
RENT COMPS ANALYSIS
  • 271 Arbour Garden Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $1.13
    •  
  • 309 Falcons Fire Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,071 Sqft ∙ Built 2000
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 73 Chateau Whistler Court Las Vegas, NV 2
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2001
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 141 Fox Lake Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,005 Sqft ∙ Built 2002
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
  • 71 Sunset Bay Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2000
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
PROPERTY LISTING DETAILS
Stephen Starks
1.702.234.6753
Starks Homes Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253884
Last Updated: 12/06/2020
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