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292 Turtle Peak Avenue Las Vegas, NV 89148

3 Beds 3 Baths 2,953 sqft Built 2000

INVESTimate

$498,000

List Price

$2,170

$1,953 - $2,387

Rent Est.

$541,774  ( +8.79%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $168.64
  • 10 Days on Market
  • MLS # : 2222571
  • Updated Date : 08/17/2020 at 12:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,953 sqft
  • Baths : 2 full , 1 half
Listing Agent

Vertex Realty & Property Manag

Listing Agent's Description

Amazing Golf Course house with Pool in Rhodes Ranch! Very open floor plan with vaulted ceiling, new carpet!!!. High end laminate wood flooring. Kitchen with island and granite counter top. Huge master bedroom with fireplace. A must see.

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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: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k339k

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

Neighborhood: Rhodes Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10551829

* 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
Don And Dee Snyder Elementary School Primary Unknown NA
Wilbur And Theresa Faiss Middle School Middle Regular 1,409 61 NA
Sierra Vista High School High Regular 2,396 88 4

Don And Dee Snyder Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Wilbur And Theresa Faiss Middle School

  • Education Level: Middle
  • # of students: 1,409
  • # of teachers: 61
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$448,200$547,800$498,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$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$1.4M$1.6M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,837
Property Tax -$315
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
-$186

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.

$498,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 8.79%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,720

INVESTMENT

$137,720

Down Payment
$124,500
Rehab Estimate
$5,750
Closing Costs
$7,470

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,837

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,500
Loan Amount $373,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$22,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,296

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0353$2,1704$2,3955$2,650
$2,650
RENT COMPS ANALYSIS
  • 292 Turtle Peak Avenue Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,953 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,953 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.73
    •  
  • 389 Falcons Fire Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,953 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,953 Sqft ∙ Built 2000
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.67
    •  
  • 210 Whitly Bay Avenue Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2001
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,035
    • $0.71
    •  
  • 50 Sahalee Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,894 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,894 Sqft ∙ Built 1998
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 284 Harpers Ferry Avenue Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2001
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Jennifer Y Zirzow
1.702.376.4609
Vertex Realty & Property Manag
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2222571
Last Updated: 08/17/2020
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