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345 Rezzo Street Las Vegas, NV 89138

4 Beds 4 Baths 3,520 sqft Built 2016

$699,000

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $198.58
  • 3 Days on Market
  • MLS # : 2276544
  • Updated Date : 03/06/2021 at 08:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,520 sqft
  • Baths : 3 full , 1 half
Listing Agent

King Realty Group

Listing Agent's Description

Picture yourself living in one of the most highly sought after areas in all of Las Vegas! The Paseos Village in Summerlin features miles of walking and biking trails, top-rated schools and only a few minutes drive to over 125 shops and delicious restaurants located in Downtown Summerlin. This 3,500+ SQ FT home feature 4 bedrooms, 3.5 bathrooms. Admire the picturesque Red Rock Mountains from your covered patio located off the huge upstairs loft.

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 Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$629,100$768,900$699,000

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$2,428
Property Tax -$554
Property Insurance -$95
Property Management Fees -$119
CASH FLOW
$224

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.

$699,000

PROJECTED PRICE

$3,420

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k$30k$35k$40k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,985

INVESTMENT

$190,985

Down Payment
$174,750
Rehab Estimate
$5,750
Closing Costs
$10,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$2,428

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $174,750
Loan Amount $524,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$66,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,705

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,4203$3,5004$3,8005$3,995
$3,995
RENT COMPS ANALYSIS
  • 345 Rezzo Street Las Vegas, NV 2
    • 4 beds 4 baths ∙ 3,520 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,520 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $0.97
    •  
  • 327 Elder View Drive Las Vegas, NV 1
    • 5 beds 4 baths ∙ 3,598 Sqft ∙ Built 2015 5 beds 4 baths ∙ 3,598 Sqft ∙ Built 2015
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.89
    •  
  • 12037 La Palmera Las Vegas, NV 3
    • 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2007
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.03
    •  
  • 12049 La Palmera Avenue Las Vegas, NV 4
    • 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,387 Sqft ∙ Built 2006
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.12
    •  
  • 549 Green Sage Way Las Vegas, NV 5
    • 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013 5 beds 5 baths ∙ 3,413 Sqft ∙ Built 2013
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,995
    • $1.17
    •  
PROPERTY LISTING DETAILS
Joe L Memolo
1.702.338.1443
King Realty Group
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2276544
Last Updated: 03/06/2021
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