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280 Elder View Drive Las Vegas, NV 89138

4 Beds 4 Baths 3,606 sqft Built 2016

INVESTimate

$919,500

List Price

$3,560

$3,310 - $3,810

Rent Est.

$1,002,715  ( +9.05%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $254.99
  • 8 Days on Market
  • MLS # : 2223061
  • Updated Date : 08/19/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,606 sqft
  • Baths : 3 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Welcome home! Located in desirable gated Delano Community, The Paseos, Summerlin West. Built October '16. Community features, tranquil walking paths, a community park, minutes from Fox Hill Park & 5 star Vasiliades Es. Downtown Summerlin, grocery store, gas station, Red Rock Casino & Red Rock Mountain. Greet your guest through enclosed front courtyard w/outdoor fireplace. Open floor concept , featuring a custom fire place wall w/floating cabinets/shelves. 64' Electrolux fridge, SS appliances, double built in ovens, microwave/convection oven, water softener, butlers pantry w/115 bottle wine fridge, 42' cabinets, designer backsplash w/over sized granite countertop island perfect for entertaining. Indoor/outdoor living w/8ft sliding patio doors, covered patio w/2nd outdoor fireplace. Desert landscaping & heated pool w/color led lighting. Huge master suite bedroom with extra sitting area or gym, private balcony & custom built in closet. Over $100k in upgrades. Click on 3d matterport tour.

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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$827,550$1,011,450$919,500

PURCHASE PRICE

$3,204$3,916$3,560

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,560
EXPENSES Loan Payment -$3,393
Property Tax -$748
Property Insurance -$97
HOA -$74
Property Management Fees -$119
CASH FLOW
-$871

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.

$919,500

PROJECTED PRICE

$3,560

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.05%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$249,418

INVESTMENT

$249,418

Down Payment
$229,875
Rehab Estimate
$5,750
Closing Costs
$13,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$3,393

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $229,875
Loan Amount $689,625
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$7,640

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,560

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,588

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2503$3,4954$3,5605$3,600
$3,600
RENT COMPS ANALYSIS
  • 280 Elder View Drive Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,606 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,606 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,560
    • $0.99
    •  
  • 270 Calgrove Street Las Vegas, NV 1
    • 4 beds 3 baths ∙ 3,302 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,302 Sqft ∙ Built 2015
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 12249 Nasino Avenue Las Vegas, NV 2
    • 5 beds 5 baths ∙ 3,463 Sqft ∙ Built 2015 5 beds 5 baths ∙ 3,463 Sqft ∙ Built 2015
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.94
    •  
  • 549 Green Sage Way Las Vegas, NV 3
    • 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.02
    •  
  • 11529 Bohemian Forest Avenue Las Vegas, NV 5
    • 4 beds 4 baths ∙ 3,417 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,417 Sqft ∙ Built 2004
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Gabriela Ojeda
1.702.771.7877
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223061
Last Updated: 08/19/2020
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