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3163 Silver Saddle Street Las Vegas, NV 89169

3 Beds 2 Baths 1,724 sqft Built 1963

$285,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1963
  • Price/Sqft : $165.31
  • 5 Days on Market
  • MLS # : 2264843
  • Updated Date : 01/31/2021 at 06:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,724 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Here comes beautiful single story home in Paradise Palms. This home comes with 3 bedrooms, 3 years old roof and 2 years old kitchen. Primary bedroom and living room have laminate flooring. Kitchen and dining area are tile.

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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: Paradise Palms

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k301k

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

Neighborhood: Paradise Palms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9651752

* 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 E. Lake Elementary School Primary Regular 808 53 4
K O Knudson Junior High School Middle Magnet 1,362 61 NA
Valley High School High Magnet 2,826 123 2

Robert E. Lake Elementary School

  • Education Level: Primary
  • # of students: 808
  • # of teachers: 53
4
GreatSchools Rating

K O Knudson Junior High School

  • Education Level: Middle
  • # of students: 1,362
  • # of teachers: 61
NA
GreatSchools Rating

Valley High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$990
Property Tax -$107
Property Insurance -$61
Property Management Fees -$119
CASH FLOW
$254

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$285,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
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$20k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$42,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5503$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3163 Silver Saddle Street Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1963
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.89
    •  
  • 1553 Silver Mesa Way Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1964
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 3164 Silver Saddle Street Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1963
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.97
    •  
  • 2612 Siesta Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 1969 4 beds 3 baths ∙ 1,732 Sqft ∙ Built 1969
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2163 Golden Arrow Drive Las Vegas, NV 5
    • 3 beds 1 baths ∙ 1,780 Sqft ∙ Built 1963 3 beds 1 baths ∙ 1,780 Sqft ∙ Built 1963
    LEASED 02/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.90
    •  
PROPERTY LISTING DETAILS
Nigussie A Riktu
1.702.824.0283
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2264843
Last Updated: 01/31/2021
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