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2816 Mellow Breeze Street Las Vegas, NV 89117

4 Beds 3 Baths 2,744 sqft Built 1988

$474,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1988
  • Price/Sqft : $173.07
  • 5 Days on Market
  • MLS # : 2244944
  • Updated Date : 11/05/2020 at 00:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,744 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Exterior has been recently painted and landscaped to lock in the curb appeal as each unique interior feature continues to jump off the page! This gorgeous home is found within the Lakes at Summerlin enhanced with Marmoleum flooring, select stained concrete patterns, hand scraped hickory, and a hardwood staircase you can't help but admire. Ample amounts of choice granite found in a massive kitchen fit for a chef with extra vegetable sink, cooktop gas burners, walk-in pantry, and an island you wouldn't mind being stranded on! One Bedroom and full bath downstairs, Primary bedroom separate from the other rooms, and a massive study/media room/loft awaiting your creative finishing touches. Extended covered patio, built in BBQ, fountain, and garden areas highlight the backyard and await your green thumb. All in a very sought after location on a street aptly named Mellow Breeze. Your new home awaits you...

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k377k

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

Neighborhood: The Section Seven

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
M.j. Christensen Elementary School Primary Regular 615 34 6
Lawrence Junior High School Middle Regular 1,421 61 NA
Bonanza High School High Regular 2,003 83 3

M.j. Christensen Elementary School

  • Education Level: Primary
  • # of students: 615
  • # of teachers: 34
6
GreatSchools Rating

Lawrence Junior High School

  • Education Level: Middle
  • # of students: 1,421
  • # of teachers: 61
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$427,410$522,390$474,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,752
Property Tax -$273
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$124

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.

$474,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$131,599

INVESTMENT

$131,599

Down Payment
$118,725
Rehab Estimate
$5,750
Closing Costs
$7,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,752

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,725
Loan Amount $356,175
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$26,769

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,264

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,0953$2,1004$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 2816 Mellow Breeze Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 2923 Thicket Willow Street Las Vegas, NV 1
    • 3 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.74
    •  
  • 9700 Quail Springs Court Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1992
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.81
    •  
  • 2813 Klondike Court Las Vegas, NV 4
    • 5 beds 3 baths ∙ 2,785 Sqft ∙ Built 1988 5 beds 3 baths ∙ 2,785 Sqft ∙ Built 1988
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 2732 Cloudsdale Circle Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1989
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.92
    •  
PROPERTY LISTING DETAILS
James J Mcguire
1.702.280.3410
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2244944
Last Updated: 11/05/2020
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