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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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Rhodes Ranch
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$151,500
LOAN DETAILS
$1,910
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $137,500 |
| Loan Amount | $412,500 |
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
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494 First On Drive Las Vegas, NV 1
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- $2,100
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- $2,150
- $0.73
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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
1.702.997.2050
Urban Nest Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2259829
Last Updated: 01/14/2021
