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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $263.20
- 3 Days on Market
- MLS # : 2256563
- Updated Date : 12/19/2020 at 09:53
CONSTRUCTION
- Beds : 2
- Floor Size : 1,402 sqft
- Baths : 2 full
Listing Agent
Cornel Realty Llc
Listing Agent's Description
Single-family home in Beautiful Sun City Summerlin! 55+ Golf Course Community! One story house with 2 beds / 2 baths. Over 1400 square ft. Desirable Reno Model has a split floor plan for lots of privacy. Highly upgraded home has remodeled bathrooms and kitchen! Custom refinished cabinets and new Quartz Countertops. Gas Range/Oven, Built-in Microwave, and Dishwasher all upgraded and recently replaced. Upgraded glazed porcelain tile flooring through-out except in master bedroom carpet which is plush and new. Bonus Room is a functional Office Space, Craft or Hobby area! Rolladen shutters on all windows and sliding doors keep you cool in the summer, warm in the winter, and they're great to secure the house with or without you in it! Large fenced Courtyard, security screen door entry and welcoming front porch. Two-car attached garage has new auto door opener, space for a golf cart, and large storage cabinets. Newly landscaped and designed backyard with flowering shrubs and artificial grass.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Sun City Summerlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sun City Summerlin
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,770 |
| EXPENSES | Loan Payment | -$1,361 |
| Property Tax | -$217 | |
| Property Insurance | -$54 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$18
|
||
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.
$369,000
PROJECTED PRICE
$1,770
PROJECTED RENT
0.48%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$103,535
LOAN DETAILS
$1,361
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $92,250 |
| Loan Amount | $276,750 |
6.33
YEARS SAVED
$31,535
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,770
LIST RENT -
$1.26
LIST RENT PER SQFT
-
$1,448
COMP ESTIMATED VALUE -
$1.03
COMP AVG. RENT PER SQFT
Comps Range
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- Rent
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10459 Tuscany Rose Court Las Vegas, NV 1
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LEASED 02/03/20- Rent
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- $1,395
- $1.01
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3329 Autumn Veil Las Vegas, NV 2
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LEASED 07/15/20- Rent
- Rent Per SQFT
- $1,400
- $1.00
-
2549 Banora Point Drive Las Vegas, NV 3
- 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,388 Sqft ∙ Built 1995
![property image]()
LEASED 08/24/20- Rent
- Rent Per SQFT
- $1,500
- $1.08
-
2828 Faiss Drive Las Vegas, NV 4
- 2 beds 1 baths ∙ 1,533 Sqft ∙ Built 1995 2 beds 1 baths ∙ 1,533 Sqft ∙ Built 1995
![property image]()
LEASED 03/01/20- Rent
- Rent Per SQFT
- $1,600
- $1.04
PROPERTY LISTING DETAILS
1.702.630.7663
Cornel Realty Llc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256563
Last Updated: 12/19/2020
