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2753 Morning Meadow Court Las Vegas, NV 89156

3 Beds 3 Baths 2,022 sqft Built 1996

$279,990

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $138.47
  • 15 Days on Market
  • MLS # : 2241152
  • Updated Date : 11/02/2020 at 11:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,022 sqft
  • Baths : 2 full , 1 half
Listing Agent

United Realty Group

Listing Agent's Description

Don't miss out on this exceptional one story home with three bedroom , two and half bathrooms , two car garage and the many advantages of owning a one story home , just a few to mention accessibility , less maintenance and better future resale value. House is located minutes to shopping , Nellis Airforce base and Lake Mead National Park. Don't let this get away on you.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: White Cliffs North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: White Cliffs North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Liliam Lujan Hickey Elementary School Primary Regular 758 34 4
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Liliam Lujan Hickey Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 34
4
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$251,991$307,989$279,990

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,033
Property Tax -$198
Property Insurance -$66
Property Management Fees -$119
CASH FLOW
$184

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.

$279,990

PROJECTED PRICE

$1,600

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$79,947

INVESTMENT

$79,947

Down Payment
$69,998
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,998
Loan Amount $209,993
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$38,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2753 Morning Meadow Court Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 2050 Los Feliz Street #132 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 2004
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.78
    •  
  • 2642 Grand Basin Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,690 Sqft ∙ Built 1996
    property image
    LEASED 04/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 5845 Clydene Drive Las Vegas, NV 4
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2006
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 2359 Monterey Pine Drive Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,108 Sqft ∙ Built 1997
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
PROPERTY LISTING DETAILS
Carlos A Camacho
1.702.927.7101
United Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2241152
Last Updated: 11/02/2020
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