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2903 Thicket Willow Street Las Vegas, NV 89135

4 Beds 4 Baths 2,743 sqft Built 1999

$516,800

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $188.41
  • 13 Days on Market
  • MLS # : 2260641
  • Updated Date : 01/23/2021 at 23:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,743 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Realty & Management, L

Listing Agent's Description

RARE OPPORTUNITY TO OWN A STUNNING HOME WITH A HUGE LOT IN THE HEART OF SUMMERLIN.MINUTES AWAY FROM DOWNTOWN SUMMERLIN.MOVE-IN READY!!!COMPLETELY RENOVATED.OWNER JUST SPENT OVER $50K IN RENOVATION.UPGRADES INCLUDE GRANITE COUNTER TOPS WITH FULL BACSPLASH,,BLACK ESPRESSO CABINETS,STAINLESS STEEL APPLIANCES,HIGHLY UPGRADED LAMINATE WOOD, NEW 4" BASEBOARDS,NEWLY RENOVATED MASTER BATHROOM ,NEW PAINT THROUGHOUT THE HOUSE,AND MUCH MORE.MUST SEE TO APPRECIATE!!!

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 Willows

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $119k395k

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

Neighborhood: The Willows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762007

* 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
D'voree And Hall Ober Elementary School Primary Regular 669 39 8
Victoria Fertitta Middle School Middle Regular 1,472 60 NA
Palo Verde High School High Regular 3,024 114 9

D'voree And Hall Ober Elementary School

  • Education Level: Primary
  • # of students: 669
  • # of teachers: 39
8
GreatSchools Rating

Victoria Fertitta Middle School

  • Education Level: Middle
  • # of students: 1,472
  • # of teachers: 60
NA
GreatSchools Rating

Palo Verde High School

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

$465,120$568,480$516,800

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,795
Property Tax -$281
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$35

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.

$516,800

PROJECTED PRICE

$2,240

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 8.8%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,702

INVESTMENT

$142,702

Down Payment
$129,200
Rehab Estimate
$5,750
Closing Costs
$7,752

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $129,200
Loan Amount $387,600
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$31,610

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,215

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9653$2,1004$2,2405$2,600
$2,600
RENT COMPS ANALYSIS
  • 2903 Thicket Willow Street Las Vegas, NV 4
    • 4 beds 4 baths ∙ 2,743 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,743 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.82
    •  
  • 2923 Thicket Willow Street Las Vegas, NV 1
    • 3 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999 3 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.74
    •  
  • 2936 Falling Springs Circle #n/a Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,619 Sqft ∙ Built 1999
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $0.75
    •  
  • 9700 Quail Springs Court Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,571 Sqft ∙ Built 1992
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 3155 Heidelberg Street Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,838 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,838 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Gerard Canillas
1.702.501.8583
Compass Realty & Management, L
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260641
Last Updated: 01/23/2021
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