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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $151.22
- 5 Days on Market
- MLS # : 2261140
- Updated Date : 01/16/2021 at 00:50
CONSTRUCTION
- Beds : 5
- Floor Size : 2,876 sqft
- Baths : 3 full , 1 half
Listing Agent
Keller Williams Realty Sw
Listing Agent's Description
Welcome to 2806 Paradise Isle, quite possibly the nicest renovation this neighborhood has ever seen. Special care was taken in modernizing not just the cosmetic materials that make the new kitchen and bathrooms sparkle, but the mechanicals, roof, windows, plumbing, and electrical were also brought up to today's standards where needed. Don't let the stunning design choices distract you from the incredibly functional layout. With 5 bedrooms, including dual Owner's suites upstairs and down, plus a loft and spacious living and family rooms, this home offers the versatility many seek in this new era of working and schooling from home. Aside from the modernization of the interior finishes, the uniqueness carries to the backyard where you'll find a brand new 30'x10' covered patio, refinished decking around the replastered pool, freshly painted perimeter walls, and a new utility gate that opens from the front yard to the EXPANSIVE side yard, which can accommodate your wildest outdoor dreams!
SEE MORE
- 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: Tierra de las Palmas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tierra de las Palmas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,880 |
| EXPENSES | Loan Payment | -$1,511 |
| Property Tax | -$333 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$166
|
||
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.
$434,900
PROJECTED PRICE
$1,880
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 13.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$120,999
LOAN DETAILS
$1,511
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $108,725 |
| Loan Amount | $326,175 |
3.33
YEARS SAVED
$11,892
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,880
LIST RENT -
$0.65
LIST RENT PER SQFT
-
$1,726
COMP ESTIMATED VALUE -
$0.6
COMP AVG. RENT PER SQFT
Comps Range
-
2806 Paradise Isle Avenue North Las Vegas, NV 5
- 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2002
- Rent
- Rent Per SQFT
- $1,880
- $0.65
-
5049 Cayman Beach Street North Las Vegas, NV 1
- 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2000
LEASED 02/18/20- Rent
- Rent Per SQFT
- $1,600
- $0.59
-
2421 Paradise Isle Avenue North Las Vegas, NV 2
- 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,876 Sqft ∙ Built 2001
LEASED 02/20/20- Rent
- Rent Per SQFT
- $1,695
- $0.59
-
3608 Back Country Drive North Las Vegas, NV 3
- 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004
LEASED 01/24/20- Rent
- Rent Per SQFT
- $1,700
- $0.59
-
5527 Megan Faye Street North Las Vegas, NV 4
- 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,877 Sqft ∙ Built 2004
LEASED 09/07/20- Rent
- Rent Per SQFT
- $1,800
- $0.63
PROPERTY LISTING DETAILS
1.702.499.1915
Keller Williams Realty Sw
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2261140
Last Updated: 01/16/2021
