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275 Spring Hollow Drive Las Vegas, NV 89148

3 Beds 2 Baths 1,467 sqft Built 2008

INVESTimate

$335,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$364,447  ( +8.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $228.36
  • 8 Days on Market
  • MLS # : 2224296
  • Updated Date : 08/24/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,467 sqft
  • Baths : 2 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Beautiful, Updated Single Story 3bed/2bath Home in luxurious Rhodes Ranch guard-gated, golf course community. Open floor plan with vaulted ceilings. Upgraded Marble floors in living area & engineer wood floors in bedrooms. Granite Countertops in Open kitchen with breakfast bar area. Direct access to backyard from the kitchen & Master Bedroom. Ceilings Fans. Nice size Master Bedroom & Master bath with dual sink, shower & bathtub. Pristine conditions. Covered patio. Community Pool with Cabanas, Spa, Golf, Basketball, fitness center etc. (too many to mention!!) Excellent location: close to Spring Valley, Summerlin, next to Henderson & 5 min from the Strip.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,236
Property Tax -$222
Property Insurance -$56
HOA -$157
Property Management Fees -$119
CASH FLOW
-$330

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.

$335,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,391

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
  • $1

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4603$1,6504$1,6855$1,695
$1,695
RENT COMPS ANALYSIS
  • 275 Spring Hollow Drive Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.00
    •  
  • 7481 Margollini Street Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,316 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,316 Sqft ∙ Built 2006
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 387 Cart Crossing Way Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,536 Sqft ∙ Built 2009
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 386 Botanic Gardens Drive Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,554 Sqft ∙ Built 2012
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.08
    •  
  • 58 Dryden Park Avenue Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,473 Sqft ∙ Built 2001
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
PROPERTY LISTING DETAILS
Cristina Turtula
1.702.499.1447
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224296
Last Updated: 08/24/2020
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