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PROPERTY INFO
FACTS
- Single Family
- Built In 2001
- Price/Sqft : $183.34
- 3 Days on Market
- MLS # : 2271476
- Updated Date : 02/20/2021 at 17:48
CONSTRUCTION
- Beds : 4
- Floor Size : 3,818 sqft
- Baths : 3 full
Listing Agent
Bhhs Nevada Properties
Listing Agent's Description
SUMMERLIN SOUTH SENSATION FEATURING LAGOON-STYLE POOL/SPA COMBO, 4 BEDROOMS, 3 FULL BATHROOMS & 3 CAR GARAGE... 1 BEDROOM & FULL BATH ON 1ST LEVEL! Summerlin Home Boasts Formal Living Room, Formal Dining Room, Spacious Family Room & Kitchen w/Breakfast Bar, Corian Countertops, Reverse Osmosis, Cook Top & Double Ovens! 1st Level Living Offers Bedroom & Full Bath while Large Loft/Bonus Room Accents 2nd Level Living! Spacious Primary Bedroom Features Double Door Entry, Large Balcony & Huge Separate Sitting Room! Primary Bathroom Boasts Double Sinks, Shower, Oval Tub & Dual Walk-In Closets! More Upgrades Include Separate & Spacious Laundry Room w/Built-In Cabinets & Sink, Shutters Throughout, Alarm, Central Vacuum, Fleck Home Water Conditioning System & All Appliances Included! Backyard Oasis Boasts Large Covered Patio, Lush Landscaping, BBQ Stub w/Plenty of Space For Built-In BBQ/Outdoor Kitchen & Sparkling Lagoon-Style Pool/Spa Combo w/Kid-Safe Fencing & Waterfall! A MUST SEE!
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: The Gardens
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Gardens
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,170 |
| EXPENSES | Loan Payment | -$2,431 |
| Property Tax | -$432 | |
| Property Insurance | -$101 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$87
|
||
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.
$699,990
PROJECTED PRICE
$3,170
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 8.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$191,247
LOAN DETAILS
$2,431
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $174,998 |
| Loan Amount | $524,993 |
6.5
YEARS SAVED
$54,612
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,170
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$3,198
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
3566 Fair Bluff Street Las Vegas, NV 3
- 4 beds 3 baths ∙ 3,818 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,818 Sqft ∙ Built 2001
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- Rent Per SQFT
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- $0.83
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3622 Red Fir Las Vegas, NV 1
- 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002
LEASED 07/10/20- Rent
- Rent Per SQFT
- $2,700
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11007 Turlington Lane Las Vegas, NV 2
- 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2002
LEASED 10/16/20- Rent
- Rent Per SQFT
- $2,800
- $0.75
-
3586 Fair Bluff Street Las Vegas, NV 4
- 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 2 baths ∙ 3,723 Sqft ∙ Built 2001
LEASED 09/01/20- Rent
- Rent Per SQFT
- $3,475
- $0.93
-
3066 Lenoir Street Las Vegas, NV 5
- 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,723 Sqft ∙ Built 2001
LEASED 09/30/20- Rent
- Rent Per SQFT
- $3,495
- $0.94
PROPERTY LISTING DETAILS
1.702.336.7309
Bhhs Nevada Properties
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271476
Last Updated: 02/20/2021
