Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

375 Messina Strait Street Las Vegas, NV 89138

4 Beds 3 Baths 2,550 sqft Built 2016

$740,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $290.20
  • 8 Days on Market
  • MLS # : 2265796
  • Updated Date : 02/03/2021 at 01:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,550 sqft
  • Baths : 3 full
Listing Agent

Forever Home Realty

Listing Agent's Description

Beautiful Tuscan home on a corner lot in Summerlin West gated community Capistrano. This 4 bedroom 3 bath 2,550 sqft. home features granite counter tops, travertine and engineered wood flooring throughout. Wood-beams line the great room and a newly installed electric fireplace that acts as a media center. Pocket sliding glass doors lead you to the backyard oasis which extends the inside travertine floors. Custom backsplash, double-oven and cooktop features in the beautiful open kitchen. Engineered hardwood flooring added upstairs through the primary bedroom along with newly installed closet organizers. Call this your FOREVER HOME today!

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: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k545k

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

Neighborhood: The Paseos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10763057

* 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
Billy And Rosemary Vassiliadis Elementary School Primary Unknown NA
Sig Rogich Middle School Middle Regular 1,845 70 NA
Palo Verde High School High Regular 3,024 114 9

Billy And Rosemary Vassiliadis Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Sig Rogich Middle School

  • Education Level: Middle
  • # of students: 1,845
  • # of teachers: 70
NA
GreatSchools Rating

Palo Verde High School

  • Education Level: High
  • # of students: 3,024
  • # of teachers: 114
9
GreatSchools Rating
 

$666,000$814,000$740,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,570
Property Tax -$536
Property Insurance -$77
Property Management Fees -$119
CASH FLOW
-$622

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.

$740,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.36%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M$2.5M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$201,850

INVESTMENT

$201,850

Down Payment
$185,000
Rehab Estimate
$5,750
Closing Costs
$11,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$2,570

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $185,000
Loan Amount $555,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$6,927

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,697

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5503$2,6804$2,7005$2,900
$2,900
RENT COMPS ANALYSIS
  • 375 Messina Strait Street Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $1.05
    •  
  • 12281 Terrace Verde Avenue Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 2016
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
  • 477 Astillero Street Las Vegas, NV 2
    • 4 beds 5 baths ∙ 2,580 Sqft ∙ Built 2018 4 beds 5 baths ∙ 2,580 Sqft ∙ Built 2018
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.99
    •  
  • 11815 Mino Rio Avenue Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2017
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.14
    •  
  • 12320 Kings Meadow Court Las Vegas, NV 5
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2013
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.15
    •  
PROPERTY LISTING DETAILS
John P Stasi
1.702.521.2544
Forever Home Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265796
Last Updated: 02/03/2021
BESbswy