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324 Sierra Breeze Avenue North Las Vegas, NV 89031

4 Beds 3 Baths 2,733 sqft Built 2006

$350,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $128.06
  • 3 Days on Market
  • MLS # : 2255286
  • Updated Date : 12/12/2020 at 16:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,733 sqft
  • Baths : 3 full
Listing Agent

Signature Real Estate Group

Listing Agent's Description

Beautiful 4 bedroom home located in North Las Vegas. Kitchen has just been renovated with ceramic flooring throughout. One bedroom located on the first floor with a full bath. Private balcony off of the Primary bedroom with plenty of space to entertain. This home will not disappoint. Come view today!

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: 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
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,291
Property Tax -$292
Property Insurance -$80
Property Management Fees -$119
CASH FLOW
-$22

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.

$350,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.50%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 10.0%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$21,333

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $1,783

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7253$1,7604$1,9005$2,050
$2,050
RENT COMPS ANALYSIS
  • 324 Sierra Breeze Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,733 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.64
    •  
  • 208 Gemstone Hill Avenue North Las Vegas, NV 1
    • 5 beds 3 baths ∙ 2,733 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,733 Sqft ∙ Built 2008
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.59
    •  
  • 6017 Arbor Crest Street North Las Vegas, NV 2
    • 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,865 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.60
    •  
  • 5828 Running Horse Drive North Las Vegas, NV 4
    • 5 beds 2 baths ∙ 2,761 Sqft ∙ Built 2004 5 beds 2 baths ∙ 2,761 Sqft ∙ Built 2004
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 5925 Pink Chaff North Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,825 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,825 Sqft ∙ Built 2007
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.73
    •  
PROPERTY LISTING DETAILS
Darryl Braswell
1.702.503.9428
Signature Real Estate Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255286
Last Updated: 12/12/2020
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