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3629 Citrus Heights Avenue North Las Vegas, NV 89081

3 Beds 1 Baths 1,241 sqft Built 2006

INVESTimate

$269,750

List Price

$1,180

$1,062 - $1,298

Rent Est.

$299,719  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $217.37
  • 6 Days on Market
  • MLS # : 2221755
  • Updated Date : 08/21/2020 at 14:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,241 sqft
  • Baths : 1 full
Listing Agent

Platinum R.e. Professionals

Listing Agent's Description

Escape to the tranquil back yard. Unique landscape & distance behind the home. You'll love this beautiful 1 story 3 bedroom home in the guard gated community of Ardiente(55+ community). Community features; clubhouse, pool, spa, gym, tennis courts, group activities &much more. Open floor plan 1 owner Home that has been meticulously maintained with nothing being overlooked. Complete HVAC upgrade less than 2 years old as well very efficient & solar.

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MARKET HIGHLIGHTS

  • 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)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: North Las Vegas

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: North Las Vegas

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
D.l. Dusty Dickens Elementary School Primary Regular 753 43 6
Clifford O. Findlay Middle School Middle Regular 1,372 59 NA
Mojave High School High Regular 2,311 103 2

D.l. Dusty Dickens Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
6
GreatSchools Rating

Clifford O. Findlay Middle School

  • Education Level: Middle
  • # of students: 1,372
  • # of teachers: 59
NA
GreatSchools Rating

Mojave High School

  • Education Level: High
  • # of students: 2,311
  • # of teachers: 103
2
GreatSchools Rating
 

$242,775$296,725$269,750

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$995
Property Tax -$225
Property Insurance -$51
HOA -$207
Property Management Fees -$119
CASH FLOW
-$418

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.

$269,750

PROJECTED PRICE

$1,180

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.11%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,234

INVESTMENT

$77,234

Down Payment
$67,438
Rehab Estimate
$5,750
Closing Costs
$4,046

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$995

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,438
Loan Amount $202,313
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$50

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,123

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,2503$1,2504$1,3755$1,375
$1,375
RENT COMPS ANALYSIS
  • 3629 Citrus Heights Avenue North Las Vegas, NV 1
    • 3 beds 1 baths ∙ 1,241 Sqft ∙ Built 2006 3 beds 1 baths ∙ 1,241 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.95
    •  
  • 6329 Desert Leaf Street #102 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,367 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,367 Sqft ∙ Built 2005
    property image
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 6317 Blowing Sky Street #102 North Las Vegas, NV 3
    • 3 beds 3 baths ∙ 1,367 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,367 Sqft ∙ Built 2005
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.91
    •  
  • 3548 Terraza Mar Avenue #- North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 2004
    property image
    LEASED 02/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
  • 3533 Terraza Mar Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,521 Sqft ∙ Built 2004
    property image
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.90
    •  
PROPERTY LISTING DETAILS
Darrin Talton
1.702.850.0160
Platinum R.e. Professionals
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2221755
Last Updated: 08/21/2020
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