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3747 Bella Legato Avenue North Las Vegas, NV 89081

3 Beds 3 Baths 1,688 sqft Built 2007

INVESTimate

$295,000

List Price

$1,330

$1,197 - $1,463

Rent Est.

$327,775  ( +11.11%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $174.76
  • 6 Days on Market
  • MLS # : 2224113
  • Updated Date : 08/22/2020 at 00:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,688 sqft
  • Baths : 2 full , 1 half
Listing Agent

Icon Realty

Listing Agent's Description

Look no more, this is where you want to live! Across from a beautiful large park and playground, this immaculate home is meticulously maintained and can be yours! 3 bedroom with a loft, open downstairs floorpan perfect for relaxing and entertaining. Sliding glass doors take you out to the large covered patio where you can enjoy this hard to find spacious backyard wonderfully maintained with pavers, mature trees, grass, and more! Master bedroom is separated by the loft when you come up the stairs. 2nd bedroom has a balcony you could step out to and see the lovely park. You can see the pride of ownership in this home and the neighborhood!

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: 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,197$1,463$1,330

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

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 $1,330
EXPENSES Loan Payment -$1,088
Property Tax -$237
Property Insurance -$60
HOA -$99
Property Management Fees -$119
CASH FLOW
-$273

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.

$295,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.45%

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,473

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,3503$1,3754$1,3755$1,400
$1,400
RENT COMPS ANALYSIS
  • 3747 Bella Legato Avenue North Las Vegas, NV 1
    • 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,688 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.79
    •  
  • 3653 Turquoise Waters Avenue North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 3661 Bella Legato Avenue North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 1,688 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,688 Sqft ∙ Built 2007
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.81
    •  
  • 5548 Stelle Amore North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.89
    •  
  • 5472 Overlook Valley Street North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2006
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
PROPERTY LISTING DETAILS
Enydia M Wayt
1.702.499.0396
Icon Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224113
Last Updated: 08/22/2020
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