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2745 Poppyseed Way Las Vegas, NV 89142

3 Beds 2 Baths 1,332 sqft Built 1988

$249,990

List Price

$1,230

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $187.68
  • 5 Days on Market
  • MLS # : 2261489
  • Updated Date : 01/14/2021 at 20:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

United Realty Group

Listing Agent's Description

Beautiful remodel house new paint , new flooring! One bedroom downstair with bath, Loft upstairs, house have a beautiful vaulted ceiling entry. New granite kitchen countertops, new fan , new outside lights , Community pool nearby. The open loft on the second floor is a big plus can be use as a bedroom, nice back yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $83k296k

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

Neighborhood: Sunrise Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9591603

* 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
Hal Smith Elementary School Primary Regular 908 48 1
Kathleen And Tim Harney Middle School Middle Regular 1,845 71 NA
Chaparral High School High Regular 2,270 87 3

Hal Smith Elementary School

  • Education Level: Primary
  • # of students: 908
  • # of teachers: 48
1
GreatSchools Rating

Kathleen And Tim Harney Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 71
NA
GreatSchools Rating

Chaparral High School

  • Education Level: High
  • # of students: 2,270
  • # of teachers: 87
3
GreatSchools Rating
 

$224,991$274,989$249,990

PURCHASE PRICE

$1,107$1,353$1,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,230
EXPENSES Loan Payment -$868
Property Tax -$115
Property Insurance -$53
Property Management Fees -$119
CASH FLOW
$75

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.

$249,990

PROJECTED PRICE

$1,230

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$71,997

INVESTMENT

$71,997

Down Payment
$62,498
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,498
Loan Amount $187,493
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$21,507

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,230

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $912

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$800
1$8002$9503$9954$1,1005$1,230
$1,230
RENT COMPS ANALYSIS
  • 2745 Poppyseed Way Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,230
    • $0.92
    •  
  • 5545 Everglade Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1983
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $800
    • $0.60
    •  
  • 2847 Mammoth Court Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,440 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,440 Sqft ∙ Built 1977
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.66
    •  
  • 2879 Lassen Court Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1971
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.69
    •  
  • 3333 Ewa Beach Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1979
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.79
    •  
PROPERTY LISTING DETAILS
Asalia Mcinerney
1.702.427.1589
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2261489
Last Updated: 01/14/2021
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