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PROPERTY INFO
FACTS
- Single Family
- Built In 1988
- Price/Sqft : $163.96
- 6 Days on Market
- MLS # : 2254284
- Updated Date : 12/08/2020 at 12:48
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Section Seven
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,100 |
| EXPENSES | Loan Payment | -$1,660 |
| Property Tax | -$273 | |
| Property Insurance | -$80 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$32
|
||
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.
$449,900
PROJECTED PRICE
$2,100
PROJECTED RENT
0.47%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$124,974
LOAN DETAILS
$1,660
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $112,475 |
| Loan Amount | $337,425 |
5.58
YEARS SAVED
$33,282
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
-
$2,147
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
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
-
2936 Falling Springs Circle #n/a Las Vegas, NV 2
- 4 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999
LEASED 07/17/20- Rent
- Rent Per SQFT
- $1,965
- $0.75
-
2000 Scenic Sunrise Las Vegas, NV 4
- 4 beds 2 baths ∙ 2,702 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,702 Sqft ∙ Built 1994
LEASED 05/15/20- Rent
- Rent Per SQFT
- $2,200
- $0.81
-
2813 Klondike Court Las Vegas, NV 5
- 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
PROPERTY LISTING DETAILS
1.702.280.3410
Signature Real Estate Group
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2254284
Last Updated: 12/08/2020
