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30 Via Mantova #205 Henderson, NV 89011

3 Beds 2 Baths 2,367 sqft Built 2007

$560,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $236.59
  • 2 Days on Market
  • MLS # : 2243856
  • Updated Date : 11/02/2020 at 14:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,367 sqft
  • Baths : 2 full
Listing Agent

Simply Vegas

Listing Agent's Description

Stunning, highly upgraded,well maintained luxury property on Lake Las Vegas in Guard Gated Southshore. Southshore is the gold standard of Lake Las Vegas. Located inside Southshore is The Mantova Community, featuring Condominiums, Townhomes a private putting green and large pool. High end appliances, washer and dryer in unit. Stainless Steel Sub Zero refrigerator and freezer, large kitchen and dining area overlooks the great room and tremendous, unobstructed views. 24 inch travertine tile throughout, and over 2,300 square feet just steps from the shore of picturesque Lake Las Vegas. Not only is the interior a sight to be seen, but the views are unbeatable. You can watch the fireworks on New Years Eve from one of your two balconies that directly face the Lake, Mountains, and Reflection Bay Golf Course. A very high quality lifestyle awaits you at Lake Las Vegas.

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: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $123k449k

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

Neighborhood: Lake Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10803087

* 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
Josh Stevens Elementary School Primary Unknown NA
B. Mahlon Brown Junior High School Middle Regular 978 46 NA
Basic High School High Regular 2,367 100 3

Josh Stevens Elementary School

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

B. Mahlon Brown Junior High School

  • Education Level: Middle
  • # of students: 978
  • # of teachers: 46
NA
GreatSchools Rating

Basic High School

  • Education Level: High
  • # of students: 2,367
  • # of teachers: 100
3
GreatSchools Rating
 

$504,000$616,000$560,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$2,066
Property Tax -$1,402
Property Insurance -$73
Property Management Fees -$119
CASH FLOW
-$781

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.

$560,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 7.7%
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-$15k-$10k-$5.0k$0.0$5.0k

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,150

INVESTMENT

$154,150

Down Payment
$140,000
Rehab Estimate
$5,750
Closing Costs
$8,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,000
Loan Amount $420,000
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$73

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.22

    LIST RENT PER SQFT
  • $2,521

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,4703$2,5004$2,8805$2,900
$2,900
RENT COMPS ANALYSIS
  • 30 Via Mantova #205 Henderson, NV 4
    • 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,367 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.22
    •  
  • 25 Caminito Amore Henderson, NV 1
    • 3 beds 2 baths ∙ 2,478 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,478 Sqft ∙ Built 2000
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.99
    •  
  • 8 Via Salerno Henderson, NV 2
    • 3 beds 4 baths ∙ 2,343 Sqft ∙ Built 2001 3 beds 4 baths ∙ 2,343 Sqft ∙ Built 2001
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.05
    •  
  • 4 Villa Ferrari Court #0 Henderson, NV 3
    • 3 beds 4 baths ∙ 2,383 Sqft ∙ Built 2006 3 beds 4 baths ∙ 2,383 Sqft ∙ Built 2006
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.05
    •  
  • 20 Avenida Fiori Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,478 Sqft ∙ Built 1999
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.17
    •  
PROPERTY LISTING DETAILS
Patrick C Riley
1.702.813.8592
Simply Vegas
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2243856
Last Updated: 11/02/2020
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