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PROPERTY INFO
FACTS
- Single Family
- Built In 2006
- Price/Sqft : $251.10
- 1 Days on Market
- MLS # : 2312214
- Updated Date : 07/13/2021 at 02:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,274 sqft
- Baths : 2 full
Listing Agent
Huntington & Ellis, A Real Est
Listing Agent's Description
Welcome to this adorable one story 3 bedroom 2 bath home located in Northeast Las Vegas! Upon first look, you're met with a mature landscaped front lawn, brick driveway, and 2-car garage. This spacious floor-plan is equipped with high ceilings, tile flooring, granite counter tops, surface lighting in the kitchen, island/breakfast bar, & plenty of windows offering generous natural light throughout the home! Kitchen offers a gorgeous garden window & slider providing direct access to the backyard, perfect for entertaining!
SEE MORE
- 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: North Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: North Las Vegas
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,420 |
| EXPENSES | Loan Payment | -$1,111 |
| Property Tax | -$216 | |
| Property Insurance | -$52 | |
| HOA | -$99 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$177
|
||
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.
$319,900
PROJECTED PRICE
$1,420
PROJECTED RENT
0.44%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.75% |
| Appreciation Year (1-5) | 11.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.50% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,524
LOAN DETAILS
$1,111
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $79,975 |
| Loan Amount | $239,925 |
2.5
YEARS SAVED
$5,596
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,420
LIST RENT -
$1.11
LIST RENT PER SQFT
-
$1,112
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
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- Rent Per SQFT
- $1,350
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3529 Labrusca Vines Court North Las Vegas, NV 3
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- $1,350
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5548 Stelle Amore North Las Vegas, NV 4
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LEASED 06/12/20- Rent
- Rent Per SQFT
- $1,375
- $0.89
PROPERTY LISTING DETAILS
1.702.759.9601
Huntington & Ellis, A Real Est
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2312214
Last Updated: 07/13/2021
