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3209 Villa Pisani Court North Las Vegas, NV 89031

5 Beds 3 Baths 3,720 sqft Built 2006

INVESTimate

$394,900

List Price

$2,040

$1,836 - $2,244

Rent Est.

$438,773  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $106.16
  • 2 Days on Market
  • MLS # : 2224475
  • Updated Date : 08/25/2020 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,720 sqft
  • Baths : 3 full
Listing Agent

Life Realty District

Listing Agent's Description

BEAUTIFULLY APPOINTED 5 BEDROOM HOME WITH ONE BED AND FULL BATH DOWNSTAIRS. CENTRALLY LOCATED TO SCHOOLS,SHOPPING,ENTERTAINMENT AND FREEWAY ACCESS.OPEN FLOOR PLAN WITH FORMAL LIVING AND DINNING ROOM AT ENTRY. UPGRADED STONE AND TILE FLOORING THROUGHOUT. HUGE FAMILY ROOM WITH MOVABLE FIREPLACE INCLUDED. GOURMET KITCHEN WITH STAINLESS APPLIANCES, GRANITE COUNTER TOPS AND CUSTON CABINETS WITH CENTER ISLAND WITH BREAKFAST BAR PERFECT FOR FAMILY GATHERINGS OR ENTERTAINING. UPSTAIRS OVERSIZED MASTER BEDROOM WITH HUGE SITTING ROOM, MASTER BATH HAS ROMAN STYLE TUB WITH DUAL SINKS, DUAL WALK IN CLOSETS AND A MAKE-UP COUNTER, 3 ADDITIONAL BEDROOMS UPSTAIRS. OVERSIZED REAR POOL SIZED YARD WITH COVERED PATIO AND SHED PERFECT TO UNWIND AND RELAX WITH FAMILY AND FRIENDS ON THOSE WARM VERGAS NIGHTS. SOLAR IS LEASED AND HUGE SAVINGS ON POWER. A MUST SEE TODAY. THIS ONE WILL NOT LAST LONG!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

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
Eva G. Simmons Elementary School Primary Regular 742 37 6
Brian And Teri Cram Middle School Middle Regular 1,568 65 NA
Legacy High School High Regular 2,819 119 3

Eva G. Simmons Elementary School

  • Education Level: Primary
  • # of students: 742
  • # of teachers: 37
6
GreatSchools Rating

Brian And Teri Cram Middle School

  • Education Level: Middle
  • # of students: 1,568
  • # of teachers: 65
NA
GreatSchools Rating

Legacy High School

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

$355,410$434,390$394,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,457
Property Tax -$348
Property Insurance -$99
HOA -$42
Property Management Fees -$119
CASH FLOW
-$25

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.

$394,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.11%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,399

INVESTMENT

$110,399

Down Payment
$98,725
Rehab Estimate
$5,750
Closing Costs
$5,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,725
Loan Amount $296,175
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$22,952

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.55

    LIST RENT PER SQFT
  • $2,213

    COMP ESTIMATED VALUE
  • $0.6

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0403$2,2004$2,2505$2,495
$2,495
RENT COMPS ANALYSIS
  • 3209 Villa Pisani Court North Las Vegas, NV 2
    • 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.55
    •  
  • 3212 Bonassola Avenue North Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,720 Sqft ∙ Built 2006 5 beds 2 baths ∙ 3,720 Sqft ∙ Built 2006
    LEASED 08/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.54
    •  
  • 6232 Villa Emo Street North Las Vegas, NV 3
    • 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,720 Sqft ∙ Built 2006
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.59
    •  
  • 2425 Mountain Rail Drive #0 Las Vegas, NV 4
    • 5 beds 2 baths ∙ 3,790 Sqft ∙ Built 2005 5 beds 2 baths ∙ 3,790 Sqft ∙ Built 2005
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.59
    •  
  • 2316 Mistle Thrush North Las Vegas, NV 5
    • 5 beds 3 baths ∙ 3,752 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,752 Sqft ∙ Built 2003
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.66
    •  
PROPERTY LISTING DETAILS
Robert W Morganti
1.702.540.3775
Life Realty District
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224475
Last Updated: 08/25/2020
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