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3144 Faiss Drive Las Vegas, NV 89134

2 Beds 2 Baths 1,533 sqft Built 1995

$325,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $119k328k

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

Neighborhood: Sun City Summerlin

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100115012001250130013501400145015001550160016501700Rent in $10671706

* 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
William Lummis Elementary School Primary Regular 555 27 7
Ernest Becker Middle School Middle Regular 1,392 56 NA
Palo Verde High School High Regular 3,024 114 9

William Lummis Elementary School

  • Education Level: Primary
  • # of students: 555
  • # of teachers: 27
7
GreatSchools Rating

Ernest Becker Middle School

  • Education Level: Middle
  • # of students: 1,392
  • # of teachers: 56
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

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
$1,395
1$1,3952$1,4003$1,5004$1,5805$1,850
$1,850
RENT COMPS ANALYSIS
  • 3144 Faiss Drive Las Vegas, NV 4
    • 2 beds 2 baths ∙ 1,533 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,533 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.03
    •  
  • 10459 Tuscany Rose Court Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,381 Sqft ∙ Built 2007 2 beds 2 baths ∙ 1,381 Sqft ∙ Built 2007
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 3329 Autumn Veil Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,403 Sqft ∙ Built 2000 2 beds 2 baths ∙ 1,403 Sqft ∙ Built 2000
    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
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.08
    •  
  • 10604 Back Plains Drive Las Vegas, NV 5
    • 2 beds 2 baths ∙ 1,699 Sqft ∙ Built 1998 2 beds 2 baths ∙ 1,699 Sqft ∙ Built 1998
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
PROPERTY LISTING DETAILS
Joe Paul May
1.702.491.9601
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248809
Last Updated: 11/21/2020
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