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3732 Sorrowing Sparrow Court North Las Vegas, NV 89032

3 Beds 2 Baths 1,515 sqft Built 2001

$299,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $197.95
  • 5 Days on Market
  • MLS # : 2255814
  • Updated Date : 12/18/2020 at 14:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,515 sqft
  • Baths : 2 full
Listing Agent

Re/max Advantage

Listing Agent's Description

Great value on this charming 3 bedroom 2 bath single story home with Inground heated pool & Spa. Wood laminate & tile floors throughout. Spacious Primary bedroom W/ Walk in closet, two way fireplace into primary bath W/ separate tub & shower & double sinks. Spacious secondary bedrooms. Vaulted ceilings and appliances included! Brand New 4 Ton AC unit installed in August!!!

SEE MORE

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: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9221603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$1,107
Property Tax -$229
Property Insurance -$57
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 17% of earned rent to cover both maintenance and periods of vacancy.

$299,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.50%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$16,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,231

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3004$1,4005$1,460
$1,460
RENT COMPS ANALYSIS
  • 3732 Sorrowing Sparrow Court North Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.96
    •  
  • 3444 Quiet Pueblo Street North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,621 Sqft ∙ Built 2005
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.80
    •  
  • 3736 Sorrowing Sparrow Court North Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,700 Sqft ∙ Built 2001
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.76
    •  
  • 609 Blooming View Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1997
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 4305 Braeburn Glen Street #102 North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,695 Sqft ∙ Built 2006
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Robert W Little
1.702.460.2712
Re/max Advantage
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2255814
Last Updated: 12/18/2020
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