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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $245.34
- 3 Days on Market
- MLS # : 2256708
- Updated Date : 12/18/2020 at 16:11
CONSTRUCTION
- Beds : 3
- Floor Size : 1,610 sqft
- Baths : 2 full
Listing Agent
Exp Realty
Listing Agent's Description
Beautiful single story home in Summerlin South. The open floorplan is perfect for entertaining. Primary bedroom is separate from the other bedrooms.
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: The Willows
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Willows
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,710 |
| EXPENSES | Loan Payment | -$1,457 |
| Property Tax | -$215 | |
| Property Insurance | -$58 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$140
|
||
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.
$395,000
PROJECTED PRICE
$1,710
PROJECTED RENT
0.43%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.8% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$110,425
LOAN DETAILS
$1,457
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $98,750 |
| Loan Amount | $296,250 |
4.33
YEARS SAVED
$19,579
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,710
LIST RENT -
$1.06
LIST RENT PER SQFT
-
$1,711
COMP ESTIMATED VALUE -
$1.06
COMP AVG. RENT PER SQFT
Comps Range
-
3144 Cherum Street Las Vegas, NV 3
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $1,710
- $1.06
-
3186 Cherum Las Vegas, NV 1
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000
LEASED 04/30/20- Rent
- Rent Per SQFT
- $1,650
- $1.02
-
10162 Spider Rock Avenue Las Vegas, NV 2
- 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 2000
LEASED 09/14/20- Rent
- Rent Per SQFT
- $1,695
- $1.09
-
10143 Turret Peak Avenue #n/a Las Vegas, NV 4
- 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1999
LEASED 08/15/20- Rent
- Rent Per SQFT
- $1,750
- $1.05
-
10219 Songsparrow Court #0 Las Vegas, NV 5
- 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 2000
LEASED 12/16/20- Rent
- Rent Per SQFT
- $1,750
- $1.09
PROPERTY LISTING DETAILS
1.702.871.7736
Exp Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2256708
Last Updated: 12/18/2020
