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2959 Prestonwood Street Las Vegas, NV 89156

3 Beds 2 Baths 1,387 sqft Built 1998

$270,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $194.66
  • 5 Days on Market
  • MLS # : 2250603
  • Updated Date : 11/25/2020 at 21:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,387 sqft
  • Baths : 2 full
Listing Agent

Realty One Group Inc

Listing Agent's Description

Newly renovated inside and out, this GORGEOUS 3 Bed/2 Bath home has been completely transformed to be your dream home! Spacious, open floor plan with BRAND NEW painted walls and laminate flooring all throughout! Step into your newly renovated kitchen with beautiful white cabinets, granite countertops, and BRAND NEW Stainless Steel appliances! Dining room has extra shelf space, perfect for any decor, and a STUNNING fireplace that is perfect for the winter days. Washer + Dryer also included. Spacious primary bedroom with mirror slide doors, and private primary bath. Not to mention the extra room that is the perfect space for a playroom, workout room, and/or home office!! Schedule your tour today!

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: 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$996
Property Tax -$155
Property Insurance -$54
Property Management Fees -$119
CASH FLOW
-$15

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.

$270,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.49%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$17,955

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,311

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2253$1,3004$1,3005$1,310
$1,310
RENT COMPS ANALYSIS
  • 2959 Prestonwood Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.94
    •  
  • 6439 Wellington Court Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,387 Sqft ∙ Built 1999
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.87
    •  
  • 6644 Elk Creek Lane Lane Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,225
    • $0.98
    •  
  • 2859 Mt Hope Drive Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,358 Sqft ∙ Built 1996
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 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
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Susanne Zedlitz
1.702.439.4833
Realty One Group Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2250603
Last Updated: 11/25/2020
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