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340 Sweet Pea Arbor Street Las Vegas, NV 89144

3 Beds 2 Baths 1,458 sqft Built 2000

$339,888

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $233.12
  • 2 Days on Market
  • MLS # : 2248296
  • Updated Date : 11/14/2020 at 09:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,458 sqft
  • Baths : 2 full
Listing Agent

Era Brokers Consolidated

Listing Agent's Description

"FIXER-UPPER" in Summerlin! Nicely maintained home but needs to be updated. Priced fantastic compared to the competition for you to make it your own. Great location near the Pavillion Center Pool, Rec Center, Ball Fields and more! Secluded Lot with mature landscape and large patio. Security Screen Door Entry into a Formal Living Room with a 3 Way Fireplace and Open floorplan. Ceramic Tiled Floors throughout, Separate Family Room with Built-In Entertainment Center & Speakers. Great for the current COVID Lifestyle is a Separate Office/Den could be a 4th Bedroom with Built-In Desks & Speakers! Beautiful Cabinets in the Galley Kitchen with White on White Appl's including Micro & Frig... Separate Primary Bedroom with Mirrored Wardrobe with a Separate Spa Tub & Shower in the Primary Bathroom! 2 Secondary Bedrooms on other side of home with Mirrored Wardrobes, Laundry Area with Washer & Dryer all at this Great Price..."WoW"!

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: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $119k362k

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

Neighborhood: The Arbors

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10761875

* 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
John W. Bonner Elementary School Primary Regular 859 47 10
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

John W. Bonner Elementary School

  • Education Level: Primary
  • # of students: 859
  • # of teachers: 47
10
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$305,899$373,877$339,888

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,254
Property Tax -$212
Property Insurance -$55
Property Management Fees -$119
CASH FLOW
-$51

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.

$339,888

PROJECTED PRICE

$1,590

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.0%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,820

INVESTMENT

$95,820

Down Payment
$84,972
Rehab Estimate
$5,750
Closing Costs
$5,098

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,972
Loan Amount $254,916
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$22,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,586

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3953$1,4504$1,5005$1,590
$1,590
RENT COMPS ANALYSIS
  • 340 Sweet Pea Arbor Street Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.09
    •  
  • 344 Magnolia Arbor Street #0 Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,317 Sqft ∙ Built 2000
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $1.02
    •  
  • 400 Magnolia Arbor Street #- Las Vegas, NV 2
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2000
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.07
    •  
  • 10617 Moon Flower Arbor Place Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2000
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 413 Magnolia Arbor Street Las Vegas, NV 4
    • 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,309 Sqft ∙ Built 2000
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
Henry L Israel
1.702.339.5399
Era Brokers Consolidated
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2248296
Last Updated: 11/14/2020
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