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32 Pine Blossom Avenue North Las Vegas, NV 89031

3 Beds 3 Baths 1,978 sqft Built 2007

INVESTimate

$295,000

List Price

$1,410

$1,269 - $1,551

Rent Est.

$324,559  ( +10.02%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $149.14
  • 8 Days on Market
  • MLS # : 2223158
  • Updated Date : 08/22/2020 at 09:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,978 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Absolutely beautiful move in ready home with upscale floorplan. UPGRADES GALORE - Stone exterior, Balcony, 2 tone paint, upgraded baseboards, WOOD laminate floors, corian counters, SS appliances, 2 inch faux wood blinds. 3 full bathrooms. All bedrooms with ceiling fans, upgraded fixtures throughout the house. Welcome home!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sierra Racnch Villages

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $84k312k

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

Neighborhood: Sierra Racnch Villages

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9651603

* 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
Fredric W Watson Elementary School Primary Regular 648 36 2
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Legacy High School High Regular 2,819 119 3

Fredric W Watson Elementary School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 36
2
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Legacy High School

  • Education Level: High
  • # of students: 2,819
  • # of teachers: 119
3
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$1,088
Property Tax -$267
Property Insurance -$66
HOA -$113
Property Management Fees -$119
CASH FLOW
-$243

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.

$295,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.02%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,661

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4753$1,4954$1,5005$1,776
$1,776
RENT COMPS ANALYSIS
  • 32 Pine Blossom Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,978 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.71
    •  
  • 6042 Hidden Summit Street #0 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,833 Sqft ∙ Built 2007
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.80
    •  
  • 5941 Post Mountain Street North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2010
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.70
    •  
  • 5808 Post Mountain Street North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2006
    property image
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 112 Palatial Pines Avenue North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,146 Sqft ∙ Built 2010
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,776
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jansen Taylor
1.702.808.1318
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2223158
Last Updated: 08/22/2020
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