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322 Mesa Verde Lane Las Vegas, NV 89123

5 Beds 3 Baths 3,182 sqft Built 2005

$1,200,000

List Price

$2,720

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $377.12
  • 18 Days on Market
  • MLS # : 2267903
  • Updated Date : 02/19/2021 at 02:33
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,182 sqft
  • Baths : 3 full
Listing Agent

Homie Llc

Listing Agent's Description

Beautiful custom-built cul-de-sac home located just south of the Vegas strip. The main house offers an open floor plan with a formal living & dining room leading you to the family room and large eat-in kitchen complete with breakfast bar & nook. The main dwelling has three spacious bedrooms and bathrooms + a Primary bedroom suite featuring a spa tub, fireplace, and custom closet. The detached guest house offers an additional bedroom & bathroom with a full kitchen and living room. Enjoy the summer heat in the backyard oasis pool & spa combo.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: Enterprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9981875

* 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
Louis Wiener Jr Elementary School Primary Regular 701 39 7
Jack L. Schofield Middle School Middle Regular 1,332 51 NA
Silverado High School High Regular 2,263 94 5

Louis Wiener Jr Elementary School

  • Education Level: Primary
  • # of students: 701
  • # of teachers: 39
7
GreatSchools Rating

Jack L. Schofield Middle School

  • Education Level: Middle
  • # of students: 1,332
  • # of teachers: 51
NA
GreatSchools Rating

Silverado High School

  • Education Level: High
  • # of students: 2,263
  • # of teachers: 94
5
GreatSchools Rating
 

$1,080,000$1,320,000$1,200,000

PURCHASE PRICE

$2,448$2,992$2,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,720
EXPENSES Loan Payment -$4,168
Property Tax -$608
Property Insurance -$89
Property Management Fees -$119
CASH FLOW
-$2,264

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.

$1,200,000

PROJECTED PRICE

$2,720

PROJECTED RENT

0.23%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
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$2.5M$3.0M$3.5M$4.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M$3.0M$3.5M$4.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$323,750

INVESTMENT

$323,750

Down Payment
$300,000
Rehab Estimate
$5,750
Closing Costs
$18,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$4,168

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $300,000
Loan Amount $900,000
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$61

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,720

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,657

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,6003$2,6004$2,7205$3,200
$3,200
RENT COMPS ANALYSIS
  • 322 Mesa Verde Lane Las Vegas, NV 4
    • 5 beds 3 baths ∙ 3,182 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,182 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,720
    • $0.85
    •  
  • 7654 Chantilly Island Court Las Vegas, NV 1
    • 4 beds 2 baths ∙ 2,866 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,866 Sqft ∙ Built 2004
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.80
    •  
  • 804 Apperson Circle Las Vegas, NV 2
    • 4 beds 2 baths ∙ 3,433 Sqft ∙ Built 1993 4 beds 2 baths ∙ 3,433 Sqft ∙ Built 1993
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.76
    •  
  • 7492 Cherry Orchard Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,052 Sqft ∙ Built 2002
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
  • 7611 Cougar Creek Circle Las Vegas, NV 5
    • 5 beds 2 baths ∙ 3,433 Sqft ∙ Built 1991 5 beds 2 baths ∙ 3,433 Sqft ∙ Built 1991
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Janet Espinoza
1.702.984.4005
Homie Llc
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2267903
Last Updated: 02/19/2021
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