Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2919 Paradise Hill Court North Las Vegas, NV 89031

3 Beds 3 Baths 1,385 sqft Built 2000

$250,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $180.51
  • 6 Days on Market
  • MLS # : 2250395
  • Updated Date : 11/28/2020 at 12:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home365 Las Vegas

Listing Agent's Description

This home is great for personal use or investment opportunity!! Super cute 3 bedroom spacious townhouse super close to tons of shopping, schools and transportation if needed. Home is super open with tons of potential, Island with kitchen, tile and laminate flooring throughout home (no carpet! yay!) and 2 car garage. What more could you ask for?!?!?

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Nob Hill

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $79k296k

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

Neighborhood: Nob Hill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591603

* 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$922
Property Tax -$176
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$51

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.

$250,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 12.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,975

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,274

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,2503$1,2954$1,3005$1,300
$1,300
RENT COMPS ANALYSIS
  • 2919 Paradise Hill Court North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.88
    •  
  • 3026 Sunrise Bay Avenue Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.90
    •  
  • 2912 Pelican Breeze Court North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.92
    •  
  • 5720 Carmel Sand Street North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,406 Sqft ∙ Built 2001
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 2924 Sunrise Bay Avenue #0 North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,385 Sqft ∙ Built 2001
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Haley J Faucette
1.725.251.7815
Home365 Las Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250395
Last Updated: 11/28/2020
BESbswy