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2720 Evolutionary Lane Las Vegas, NV 89138

3 Beds 3 Baths 2,564 sqft Built 2017

$609,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $237.52
  • 6 Days on Market
  • MLS # : 2258175
  • Updated Date : 12/31/2020 at 19:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,564 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Las Vegas

Listing Agent's Description

FULL STRIP/CITY/MOUNTAIN VIEWS*Reverence Masterplan*Pulte contemporary La Vista model*Stunning Upgrades*Soaring 20' Entry*Floating Stairs*Great room plan w/tile main floor*9' ceilings & 8' doors*Double sliding door to covered patio for outdoor entertaining & amazing views*Loft plus upstairs balcony*Gourmet kitchen w/42" white cabinets, island, tile, 5 burner cooktop, stainless steel appliances & range hood, 7' walk-in pantry, quartz, breakfast bar, pendant lighting, custom backsplash & pulls*Electric Shades & Shutters*Primary bdrm w/full Strip views, shutters, 11' walk-in closet & 2nd 6' walk-in closet*Primary spa bath w/double sinks plus 9' walk-in shower w/double shower heads*Guest bdrm #2 features shutters, mtn views & 8' walk-in closet*Guest bdrm #3 features shutters, ceiling fan & 7' walk-in closet*Downstairs office/den*Computer Niche*Plus, tankless hot water, ring doorbell, laundry w/cabinets, garage racks, custom garage door, custom lights & ceiling fan prewires*IMMACULATE

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
 

$548,100$669,900$609,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,247
Property Tax -$528
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$361

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.

$609,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.43%

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$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$167,135

INVESTMENT

$167,135

Down Payment
$152,250
Rehab Estimate
$5,750
Closing Costs
$9,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,247

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,250
Loan Amount $456,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$16,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,602

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,6003$2,6004$2,6005$2,610
$2,610
RENT COMPS ANALYSIS
  • 2720 Evolutionary Lane Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $1.02
    •  
  • 10936 Free Flow Place Las Vegas, NV 1
    • 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2018
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 2641 Iron Crest Lane Las Vegas, NV 2
    • 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,648 Sqft ∙ Built 2018
    property image
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.98
    •  
  • 2604 Iron Crest Lane Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,564 Sqft ∙ Built 2017
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.01
    •  
  • 10941 Terra Azul Place Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,390 Sqft ∙ Built 2018
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.09
    •  
PROPERTY LISTING DETAILS
Robin I Smith
1.702.460.5080
Keller Williams Realty Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2258175
Last Updated: 12/31/2020
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