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288 Molinetto Street Las Vegas, NV 89138

4 Beds 3 Baths 3,149 sqft Built 2019

$1,390,000

List Price

$4,120

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $441.41
  • 2 Days on Market
  • MLS # : 2314074
  • Updated Date : 07/12/2021 at 23:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,149 sqft
  • Baths : 3 full
Listing Agent

Huntington & Ellis, A Real Est

Listing Agent's Description

If you've been looking for a home with Location and VIEWS, this is the house for you! Strip and mountain views from both upstairs and downstairs. The first floor offers a wonderful open concept floor plan great for entertaining. And you'll love cooking in the beautiful kitchen with Stainless steel appliances, granite countertop, double ovens and a gorgeous backsplash that offers just a touch of color. Beautiful porcelain tile downstairs provides the beautiful look of hardwood with the easy maintenance of tile. The living room and dining area are flanked by sliding glass doors on both side offering access to both the backyard and courtyard for indoor/outdoor entertaining. The master bedroom has a private balcony with full strip views and a downstairs bedroom and bath is great for guests.

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: 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
Ethel W. Staton Elementary School Primary Regular 880 45 9
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Ethel W. Staton Elementary School

  • Education Level: Primary
  • # of students: 880
  • # of teachers: 45
9
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
 

$1,251,000$1,529,000$1,390,000

PURCHASE PRICE

$3,708$4,532$4,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,120
EXPENSES Loan Payment -$4,828
Property Tax -$683
Property Insurance -$88
HOA -$104
Property Management Fees -$119
CASH FLOW
-$1,703

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.

$1,390,000

PROJECTED PRICE

$4,120

PROJECTED RENT

0.30%

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$1.0M$2.0M$3.0M$4.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$1.0M$2.0M$3.0M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$374,100

INVESTMENT

$374,100

Down Payment
$347,500
Rehab Estimate
$5,750
Closing Costs
$20,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$4,828

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $347,500
Loan Amount $1,042,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$1,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,120

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $4,117

    COMP ESTIMATED VALUE
  • $1.31

    COMP AVG. RENT PER SQFT
Comps Range
$3,750
1$3,7502$3,8003$4,1204$4,5005$4,500
$4,500
RENT COMPS ANALYSIS
  • 288 Molinetto Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,149 Sqft ∙ Built 2019 4 beds 3 baths ∙ 3,149 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $4,120
    • $1.31
    •  
  • 11740 Puerto Banus Avenue Las Vegas, NV 1
    • 5 beds 3 baths ∙ 3,110 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,110 Sqft ∙ Built 2006
    LEASED 04/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $1.21
    •  
  • 11517 Bohemian Forest Avenue Las Vegas, NV 2
    • 3 beds 4 baths ∙ 3,063 Sqft ∙ Built 2004 3 beds 4 baths ∙ 3,063 Sqft ∙ Built 2004
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.24
    •  
  • 11814 Albissola Avenue Las Vegas, NV 4
    • 4 beds 5 baths ∙ 3,149 Sqft ∙ Built 2018 4 beds 5 baths ∙ 3,149 Sqft ∙ Built 2018
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.43
    •  
  • 68 Tarragona Breeze Avenue Las Vegas, NV 5
    • 3 beds 4 baths ∙ 3,322 Sqft ∙ Built 2017 3 beds 4 baths ∙ 3,322 Sqft ∙ Built 2017
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,500
    • $1.35
    •  
PROPERTY LISTING DETAILS
Craig Tann
1.702.533.2223
Huntington & Ellis, A Real Est
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2314074
Last Updated: 07/12/2021
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