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2887 Prestonwood Street Las Vegas, NV 89156

3 Beds 1 Baths 1,140 sqft Built 1998

$230,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $201.75
  • 2 Days on Market
  • MLS # : 2270076
  • Updated Date : 02/14/2021 at 02:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,140 sqft
  • Baths : 1 full
Listing Agent

Coldwell Banker Premier

Listing Agent's Description

1-story, 3 bedroom, 2 bath, 2 car-garage with a roof that was installed week of Feb 1, 2021, WOW! Kitchen over-looks living room. All appliances stay. Huge pantry! Primary bedroom has a fan, primary 3/4 bathroom has 2 sinks, walk-in shower w/ handicap bar. Needs some love on the inside, however, this one is a winner! No HOA! A/C installed about 8 years ago. WELCOME HOME!

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Yorkshire Point

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $72k296k

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

Neighborhood: Yorkshire Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8981603

* 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
Liliam Lujan Hickey Elementary School Primary Regular 758 34 4
Dr. William H Bob Bailey Middle School Middle Regular 1,202 49 NA
Sunrise Mountain High School High Regular 2,526 113 2

Liliam Lujan Hickey Elementary School

  • Education Level: Primary
  • # of students: 758
  • # of teachers: 34
4
GreatSchools Rating

Dr. William H Bob Bailey Middle School

  • Education Level: Middle
  • # of students: 1,202
  • # of teachers: 49
NA
GreatSchools Rating

Sunrise Mountain High School

  • Education Level: High
  • # of students: 2,526
  • # of teachers: 113
2
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$799
Property Tax -$139
Property Insurance -$49
Property Management Fees -$119
CASH FLOW
$174

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$29,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,157

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,225
1$1,2252$1,2803$1,3004$1,3005$1,350
$1,350
RENT COMPS ANALYSIS
  • 2887 Prestonwood Street Las Vegas, NV 2
    • 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1998 3 beds 1 baths ∙ 1,140 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.12
    •  
  • 6644 Elk Creek Lane Lane Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1996
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.98
    •  
  • 2888 Mt Hope Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,209 Sqft ∙ Built 1996
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.08
    •  
  • 3144 Sierra Ridge Drive Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,340 Sqft ∙ Built 1998
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
  • 6585 Trap Creek Court Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2000
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.03
    •  
PROPERTY LISTING DETAILS
Jodi Tyra
1.702.528.4483
Coldwell Banker Premier
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2270076
Last Updated: 02/14/2021
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