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282 Parisian Springs Court Las Vegas, NV 89148

4 Beds 3 Baths 2,850 sqft Built 2001

$550,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $192.98
  • 12 Days on Market
  • MLS # : 2259829
  • Updated Date : 01/14/2021 at 20:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,850 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Nest Realty

Listing Agent's Description

Rhodes Ranch Home with 3 car garage in a Cul-De-Sac! Enter double doors to the living room with 20 foot vaulted ceiling. Living room opens to the kitchen and family room with fireplace. Kitchen features ample cabinet space, stainless steel Bosch appliances (oven, microwave, cooktop, dishwasher), stainless steel Samsung fridge and backsplash. Downstairs features the master bedroom with ceiling fan and walk in closet. Remodeled master bathroom features new flooring, new cabinets, double sinks, heated towel warmer, separate tub and shower. Go upstairs to spacious loft and additional bedrooms. Backyard features covered patio with ceiling fan, fire pit and solar heated Pebble-Tech pool and spa.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

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

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,910
Property Tax -$345
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$104

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.

$550,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$45,228

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,216

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,2004$2,4955$2,560
$2,560
RENT COMPS ANALYSIS
  • 282 Parisian Springs Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.90
    •  
  • 494 First On Drive Las Vegas, NV 1
    • 4 beds 4 baths ∙ 2,781 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,781 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
  • 165 Marco Island Street Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,953 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,953 Sqft ∙ Built 2000
    LEASED 10/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 424 First On Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,891 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,891 Sqft ∙ Built 2005
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 506 First On Drive Las Vegas, NV 4
    • 3 beds 4 baths ∙ 2,891 Sqft ∙ Built 2005 3 beds 4 baths ∙ 2,891 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jim C Fong
1.702.997.2050
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259829
Last Updated: 01/14/2021
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