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3140 Via Festiva Henderson, NV 89044

4 Beds 4 Baths 3,671 sqft Built 2007

$580,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $158.00
  • 3 Days on Market
  • MLS # : 2280219
  • Updated Date : 03/20/2021 at 17:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,671 sqft
  • Baths : 4 full
Listing Agent

Galindo Group Real Estate

Listing Agent's Description

**WELCOME HOME** This FORMER MODEL HOME HAS IT ALL! Boasting with PRIDE OF OWNERSHIP, this 3600+ sq ft house is nestled in the award winning INSPIRADA community! Enter this home and you will FALL IN LOVE. The front living room is separate and opens to a grand staircase. The MASSIVE kitchen is complete with stainless steel appliances, HUGE ISLAND, and looks out to the OVERSIZED family room. BEDROOM AND FULL BATH DOWNSTAIRS! Upstairs has 3 GRAND bedrooms with their OWN BATHROOMS, including a great sized primary bedroom with a LUXURIOUS owner's getaway bathroom! Outdoor living space has built in kitchen and very private! Home has SOLAR PANELS! CLOSE TO PARKS, SCHOOLS, SHOPPING, POOLS, TENNIS COURTS, BASKETBALL COURTS, AND ST ROSE! This will not last long, SEE IT TODAY!

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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: Inspirada

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k376k

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

Neighborhood: Inspirada

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10801998

* 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
Robert And Sandy Ellis Elementary School Primary Unknown NA
Del E Webb Middle School Middle Regular 1,863 74 NA
Liberty High School High Regular 2,496 105 5

Robert And Sandy Ellis Elementary School

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

Del E Webb Middle School

  • Education Level: Middle
  • # of students: 1,863
  • # of teachers: 74
NA
GreatSchools Rating

Liberty High School

  • Education Level: High
  • # of students: 2,496
  • # of teachers: 105
5
GreatSchools Rating
 

$522,000$638,000$580,000

PURCHASE PRICE

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$2,015
Property Tax -$407
Property Insurance -$98
Property Management Fees -$119
CASH FLOW
-$29

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.

$580,000

PROJECTED PRICE

$2,610

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 6.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k$25k$30k

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$159,450

INVESTMENT

$159,450

Down Payment
$145,000
Rehab Estimate
$5,750
Closing Costs
$8,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,015

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $145,000
Loan Amount $435,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$35,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,909

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,610
1$2,6102$2,6503$2,6504$2,7005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3140 Via Festiva Henderson, NV 1
    • 4 beds 4 baths ∙ 3,671 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,671 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.71
    •  
  • 1424 Via Savona Drive Henderson, NV 2
    • 4 beds 3 baths ∙ 3,474 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,474 Sqft ∙ Built 2002
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 3164 Color Palette Henderson, NV 3
    • 5 beds 4 baths ∙ 3,493 Sqft ∙ Built 2008 5 beds 4 baths ∙ 3,493 Sqft ∙ Built 2008
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.76
    •  
  • 3225 Mist Effect Avenue Henderson, NV 4
    • 4 beds 3 baths ∙ 3,621 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,621 Sqft ∙ Built 2011
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.75
    •  
  • 1464 European Drive Henderson, NV 5
    • 5 beds 4 baths ∙ 3,903 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,903 Sqft ∙ Built 2003
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Matthew L Langguth
1.702.755.1215
Galindo Group Real Estate
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2280219
Last Updated: 03/20/2021
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