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2918 Mastercraft Avenue North Las Vegas, NV 89031

4 Beds 3 Baths 2,153 sqft Built 2001

$319,888

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $148.58
  • 10 Days on Market
  • MLS # : 2260488
  • Updated Date : 01/15/2021 at 23:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,153 sqft
  • Baths : 2 full , 1 half
Listing Agent

Signature Real Estate Group

Listing Agent's Description

This stellar pride in ownership home is located just south of Aliante. This home is very clean with new carpet, fresh exterior paint, and ready to move-in. Features four good size bedrooms, front living room, rear family room, tall ceilings, neutral colors, open kitchen with granite countertops, and situated on a oversized lot with large pool-size backyard. IT IS A MUST SEE HOME!!!

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: Somerset Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $110k296k

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

Neighborhood: Somerset Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Eva G. Simmons Elementary School Primary Regular 742 37 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Eva G. Simmons Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 37
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$287,899$351,877$319,888

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$1,111
Property Tax -$235
Property Insurance -$69
Property Management Fees -$119
CASH FLOW
$116

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.

$319,888

PROJECTED PRICE

$1,650

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 11.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,520

INVESTMENT

$90,520

Down Payment
$79,972
Rehab Estimate
$5,750
Closing Costs
$4,798

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,972
Loan Amount $239,916
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$30,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6453$1,6504$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 2918 Mastercraft Avenue North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,153 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 6224 Silver Vein Street North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,982 Sqft ∙ Built 2004
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.76
    •  
  • 3305 Amish Las Vegas, NV 2
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2005
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.75
    •  
  • 6308 Patriot Wave North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,137 Sqft ∙ Built 2014
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
  • 6305 Patriot Wave Street North Las Vegas, NV 5
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 2015
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.82
    •  
PROPERTY LISTING DETAILS
Liza Oraha
1.702.580.6420
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2260488
Last Updated: 01/15/2021
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