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2745 Canasta Court Las Vegas, NV 89117

3 Beds 2 Baths 1,260 sqft Built 1988

$319,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $253.89
  • 4 Days on Market
  • MLS # : 2248954
  • Updated Date : 11/20/2020 at 16:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,260 sqft
  • Baths : 2 full
Listing Agent

Elite Realty

Listing Agent's Description

GORGEOUS ONE STORY HOME NESTLED AT THE END OF THE CUL-DE-SAC IN THE LAKES COMMUNITY. HOME FEATURES, NEW LUXURY VINYL PLANK FLOORING, NEW CARPET, NEW PAINT, NEW BASE BOARDS, NEW PAINT ON CABINETS, NEW GRANITE COUNTER TOPS, NEW KITCHEN SINK, NEW KITCHEN FAUCET, NEW BLINDS, NEW LIGHTING IN KITCHEN, NEW LIGHTING IN ENTRY, NEW LIGHTING IN DINING AREA, NEW DOOR KNOBS, NEW HANDLES, NEW TILE AROUND FIREPLACE, NEW SHOWER TILE IN SECOND BATHROOM, SOME FRONT NEW LANDSCAPING, STAINLESS STEEL APPLIANCES, SOME NEW EXTERIOR PAINT, NEW PAINT ON FRONT SIDE WALL, A/C UNIT AROUND ONE YEAR OLD, PRIVATE BACKYARD WITH COVERED PATIO, VAULTED CEILINGS, POTSHELVES, PROPERTY IS LOCATED CLOSE TO DOWNTOWN SUMMERLIN, RED ROCK, AND SHOPPING. THIS PROPERTY IS AN EXCELLENT VALUE!!!

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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: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k377k

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

Neighborhood: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Bonanza High School High Regular 2,003 83 3

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$1,180
Property Tax -$182
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
-$223

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.

$319,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,180

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,3503$1,4954$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2745 Canasta Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.04
    •  
  • 2668 Pine Run Road Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1999
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 10260 Wood Work Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 2000
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.14
    •  
  • 2612 Pine Run Road Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 2000
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 2660 Pine Run Road Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1999
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
PROPERTY LISTING DETAILS
George G Kinney
1.702.493.3649
Elite Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248954
Last Updated: 11/20/2020
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