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3087 Carlotta Circle Las Vegas, NV 89121

5 Beds 3 Baths 2,922 sqft Built 1989

$500,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $171.12
  • 3 Days on Market
  • MLS # : 2253616
  • Updated Date : 12/05/2020 at 11:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,922 sqft
  • Baths : 3 full
Listing Agent

Renaissance Realty Inc

Listing Agent's Description

TRULY A RARE FIND! RENOVATED / RESTORED TO BETTER THAN NEW HOME IN POPULAR AREA OF LAS VEGAS. OWNER HAS DONE SO MANY UPGRADES THERE IS NOT ENOUGH ROOM TO LIST THEM ALL. DOUBLE LOT WILL ALLOW FOR TONS OF SPACE FOR A POOL, RV GARAGE, CASITA, OR ROOM TO PLAY. NEW A/C , PAINT INSIDE AND OUT, GRANITE COUTERTOPS, STAINLESS STEEL APPLIANCES ,FLOORING AND WINDOW COVERINGS ARE JUST A FEW OF THE NEW UPGRADES. INSIDE FEATURES A FORMAL LIVING AND DINING ROOM WITH A LARGE FAMILY ROOM DOWNSTAIRS. FULL BATH ABD BEDROOM AS WELL DOWNSTAIRS. UPSTAIRS ARE THE REMAINING 4 BEDROOMS INCLUDING A HUGE OWNER SUITE AND BATHROOM WITH A STEP DOWN JACUZZI TUB. MUST SEE TO TRULY APPRECIATE!!

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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: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $112k296k

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

Neighborhood: Paradise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001150120012501300135014001450150015501600Rent in $10761606

* 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
George E. Harris Elementary School Primary Regular 700 38 3
William E. Orr Middle School Middle Regular 933 36 NA
Valley High School High Magnet 2,826 123 2

George E. Harris Elementary School

  • Education Level: Primary
  • # of students: 700
  • # of teachers: 38
3
GreatSchools Rating

William E. Orr Middle School

  • Education Level: Middle
  • # of students: 933
  • # of teachers: 36
NA
GreatSchools Rating

Valley High School

  • Education Level: High
  • # of students: 2,826
  • # of teachers: 123
2
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,845
Property Tax -$252
Property Insurance -$84
Property Management Fees -$119
CASH FLOW
$1

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.

$500,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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$0.0$5.0k$10k$15k$20k$25k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$40,528

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,396

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,099
1$2,0992$2,3003$2,4004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 3087 Carlotta Circle Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,922 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,922 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.79
    •  
  • 2043 Mohigan Way Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,731 Sqft ∙ Built 1970 5 beds 3 baths ∙ 2,731 Sqft ∙ Built 1970
    LEASED 06/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,099
    • $0.77
    •  
  • 2554 Regency Cove Court Las Vegas, NV 3
    • 4 beds 2 baths ∙ 2,805 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,805 Sqft ∙ Built 2008
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 3840 Mcleod Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1997 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1997
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
  • 2550 Regency Cove Court Las Vegas, NV 5
    • 5 beds 4 baths ∙ 3,052 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,052 Sqft ∙ Built 2008
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
PROPERTY LISTING DETAILS
John A Gobber
1.702.400.4280
Renaissance Realty Inc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2253616
Last Updated: 12/05/2020
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