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3190 Sterlingshire Drive Las Vegas, NV 89146

4 Beds 3 Baths 2,815 sqft Built 1996

$499,750

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $177.53
  • 3 Days on Market
  • MLS # : 2249935
  • Updated Date : 11/21/2020 at 00:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,815 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Market Place

Listing Agent's Description

Center southwest location single-story home with 4 bedrooms, 3 garages, on a 9100sf lot. Ceiling fan of all bedrooms. Nice size master bedroom; Separate breakfast area and formal dining room; living room and family room; plus a wet bar; Shower and tub separate in master bath. Shutter windows. The kitchen features granite counter-tops, a built-in stove, and an island. Laundry room with independent sink and closet. Palm trees and rock front yard. All secondary bedrooms have walk-in closets. Tile and laminate wood flooring in common area and carpet in bedrooms; Beautiful mature low maintenance front and backyard. Full length covered patio. No HOA! The home is well maintained and easy to show. Won't last long!

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: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $119k296k

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

Neighborhood: Spring Valley

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2105011001150120012501300135014001450150015501600Rent in $10381606

* 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
R. Guild Gray Elementary School Primary Regular 521 24 5
Kenny C. Guinn Middle School Middle Regular 820 40 NA
Bonanza High School High Regular 2,003 83 3

R. Guild Gray Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 24
5
GreatSchools Rating

Kenny C. Guinn Middle School

  • Education Level: Middle
  • # of students: 820
  • # of teachers: 40
NA
GreatSchools Rating

Bonanza High School

  • Education Level: High
  • # of students: 2,003
  • # of teachers: 83
3
GreatSchools Rating
 

$449,775$549,725$499,750

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,844
Property Tax -$321
Property Insurance -$82
Property Management Fees -$119
CASH FLOW
$194

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.

$499,750

PROJECTED PRICE

$2,560

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 9.9%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530$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$138,184

INVESTMENT

$138,184

Down Payment
$124,938
Rehab Estimate
$5,750
Closing Costs
$7,496

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,844

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,938
Loan Amount $374,813
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$60,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,759

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,560
1$2,5602$2,8503$2,8504$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 3190 Sterlingshire Drive Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,815 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.91
    •  
  • 6550 Palmyra Avenue Las Vegas, NV 2
    • 4 beds 4 baths ∙ 2,883 Sqft ∙ Built 1978 4 beds 4 baths ∙ 2,883 Sqft ∙ Built 1978
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.99
    •  
  • 6762 Palmyra Las Vegas, NV 3
    • 5 beds 3 baths ∙ 2,797 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,797 Sqft ∙ Built 1977
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.02
    •  
  • 3175 South Torrey Pines Drive Las Vegas, NV 4
    • 4 beds 3 baths ∙ 3,041 Sqft ∙ Built 1977 4 beds 3 baths ∙ 3,041 Sqft ∙ Built 1977
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 6545 Palmyra Las Vegas, NV 5
    • 5 beds 1 baths ∙ 3,129 Sqft ∙ Built 1978 5 beds 1 baths ∙ 3,129 Sqft ∙ Built 1978
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.96
    •  
PROPERTY LISTING DETAILS
Nancy Li
1.702.885.2013
Keller Williams Market Place
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2249935
Last Updated: 11/21/2020
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