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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $212.00
- 6 Days on Market
- MLS # : 2248809
- Updated Date : 11/21/2020 at 16:40
CONSTRUCTION
- Beds : 2
- Floor Size : 1,533 sqft
- Baths : 2 full
Listing Agent
Exp Realty
Listing Agent's Description
Single Story beauty in Sun City Summerlin. This age qualified community has every amenity imaginable. Community Pools, spa, fitness, golf, tennis and so much more. Fantastic upgrades thru out. Open great room Tahoe floorplan. Beautiful satillo tile thru out the home. The kitchen has granite counters and beautiful cabinetry. The kitchen is open to the dining area and large family room with ceiling fan. Just off the kitchen is a computer hutch area that is currently being used as an artist studio. Large master bedroom with vaulted ceiling, ceiling fan and bay window. Master bath with walk in closet, vanity area and shower. Secondary bedroom with ceiling fan and the secondary bathroom has a tub shower combo. The backyard is huge and open and there is a large relaxing patio with a patio cover and extended lattice patio cover. Beautiful mountain views.
SEE MORE
- 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)
- 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)
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 | $1,580 |
| EXPENSES | Loan Payment | -$1,199 |
| Property Tax | -$228 | |
| Property Insurance | -$57 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$23
|
||
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.
$325,000
PROJECTED PRICE
$1,580
PROJECTED RENT
0.49%
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
$91,875
LOAN DETAILS
$1,199
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $81,250 |
| Loan Amount | $243,750 |
5.58
YEARS SAVED
$23,251
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,580
LIST RENT -
$1.03
LIST RENT PER SQFT
-
$1,602
COMP ESTIMATED VALUE -
$1.05
COMP AVG. RENT PER SQFT
Comps Range
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- $1,500
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LEASED 08/14/20- Rent
- Rent Per SQFT
- $1,850
- $1.09
PROPERTY LISTING DETAILS
1.702.491.9601
Exp Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2248809
Last Updated: 11/21/2020
