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283 Calgrove Street Las Vegas, NV 89138

5 Beds 4 Baths 3,598 sqft Built 2015

$885,000

List Price

$3,450

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $245.97
  • 4 Days on Market
  • MLS # : 2259282
  • Updated Date : 01/08/2021 at 19:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,598 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhhs Nevada Properties

Listing Agent's Description

Magnificent luxury 5 bedroom home in the desirable Paseos, gated Delano neighborhood. Upgraded beauty with custom features throughout. Courtyard. Solar panels owned. Huge kitchen with massive island, newer dishwasher & beverage fridge. Large butler pantry with adjacent walk in storage pantry. Double ovens, stainless appliances & built -in refrigerator. Upper laundry room with sink, cabinets & washer/dryer. Master suite down features auto duet sheer, room darkening blinds, direct door access to yard with outdoor spa, walk-in closet with custom built-ins plus additional stacked washer/dryer. Great room & kitchen feature stackable sliding doors leading to large loggia with matching wood style floor tile. Automated solar blinds in loggia with fireplaces in great room & loggia add to all season indoor/outdoor living. Second level features an open loft with sliding doors to extended balcony with covered balcony. Impeccably landscaped, Zen type garden, water feature, fruit trees. True value.

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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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

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

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$796,500$973,500$885,000

PURCHASE PRICE

$3,105$3,795$3,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,450
EXPENSES Loan Payment -$3,074
Property Tax -$712
Property Insurance -$97
Property Management Fees -$119
CASH FLOW
-$552

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.

$885,000

PROJECTED PRICE

$3,450

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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$500k$1.0M$1.5M$2.0M$2.5M$3.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k$0.0$10k$20k$30k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$240,275

INVESTMENT

$240,275

Down Payment
$221,250
Rehab Estimate
$5,750
Closing Costs
$13,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$3,074

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $221,250
Loan Amount $663,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$15,909

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,450

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $3,544

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,999
1$2,9992$3,2003$3,2004$3,4505$3,995
$3,995
RENT COMPS ANALYSIS
  • 283 Calgrove Street Las Vegas, NV 4
    • 5 beds 4 baths ∙ 3,598 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,598 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,450
    • $0.96
    •  
  • 12165 Edgehurst Court Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,302 Sqft ∙ Built 2017 5 beds 3 baths ∙ 3,302 Sqft ∙ Built 2017
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,999
    • $0.91
    •  
  • 270 Calgrove Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,302 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,302 Sqft ∙ Built 2015
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
  • 327 Elder View Drive Las Vegas, NV 3
    • 5 beds 4 baths ∙ 3,598 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,598 Sqft ∙ Built 2015
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.89
    •  
  • 549 Green Sage Way Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.17
    •  
PROPERTY LISTING DETAILS
Daniel Sweeney
1.702.379.2784
Bhhs Nevada Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2259282
Last Updated: 01/08/2021
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