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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $150.51
- 2 Days on Market
- MLS # : 2271605
- Updated Date : 02/21/2021 at 00:30
CONSTRUCTION
- Beds : 4
- Floor Size : 2,857 sqft
- Baths : 2 full
Listing Agent
Coldwell Banker Premier
Listing Agent's Description
No HOA! Are you looking for a spacious four bedroom home with a three car garage on a pool size lot in a no HOA community with RV...boat...toy parking? You've just found it! This baby sparkles with it's large bedrooms, spacious family room, charming neighborhood, located near the end of the cul-de-sac and great centralized location. Welcome Home!
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: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Paradise
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,270 |
| EXPENSES | Loan Payment | -$1,494 |
| Property Tax | -$252 | |
| Property Insurance | -$83 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$323
|
||
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.
$430,000
PROJECTED PRICE
$2,270
PROJECTED RENT
0.53%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 9.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.63% |
| 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
$119,700
LOAN DETAILS
$1,494
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $107,500 |
| Loan Amount | $322,500 |
9.67
YEARS SAVED
$59,950
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,270
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$2,286
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
3865 Lorraine Lane Las Vegas, NV 3
- 4 beds 2 baths ∙ 2,857 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,857 Sqft ∙ Built 1998
- Rent
- Rent Per SQFT
- $2,270
- $0.79
-
4496 Palm Grove Drive Las Vegas, NV 1
- 5 beds 3 baths ∙ 3,022 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,022 Sqft ∙ Built 1993
LEASED 03/06/20- Rent
- Rent Per SQFT
- $2,200
- $0.73
-
4486 Palm Grove Drive Las Vegas, NV 2
- 5 beds 2 baths ∙ 3,022 Sqft ∙ Built 1993 5 beds 2 baths ∙ 3,022 Sqft ∙ Built 1993
LEASED 05/11/20- Rent
- Rent Per SQFT
- $2,200
- $0.73
-
3691 Rick Stratton Drive Las Vegas, NV 4
- 4 beds 2 baths ∙ 2,888 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,888 Sqft ∙ Built 1993
LEASED 10/11/19- Rent
- Rent Per SQFT
- $2,400
- $0.83
-
5761 Douglas Everett Street Las Vegas, NV 5
- 3 beds 2 baths ∙ 2,974 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,974 Sqft ∙ Built 2016
LEASED 10/18/20- Rent
- Rent Per SQFT
- $2,700
- $0.91
PROPERTY LISTING DETAILS
1.702.285.1528
Coldwell Banker Premier
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2271605
Last Updated: 02/21/2021
