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PROPERTY INFO
FACTS
- Single Family
- Built In 1973
- Price/Sqft : $146.99
- 10 Days on Market
- MLS # : 2255377
- Updated Date : 12/13/2020 at 01:30
CONSTRUCTION
- Beds : 3
- Floor Size : 2,245 sqft
- Baths : 1 full
Listing Agent
Ruthe Realty
Listing Agent's Description
Wonderful, sprawling 2245 sq ft, single story home in sought after Encore Paradise Valley. This home features a huge eat in kitchen with quartz counter tops and stainless steel appliances, huge family room with soaring vaulted ceilings, 4 ton and 2 ton A/C units installed 2019, 18" additional insulation added to attic, high efficiency windows, upgraded slider and french door, water softener, RO system, tank less water heater, a classic recessed living area for enthralling conversations by the fire, 3 Tuff Sheds for ample storage, covered back and side patios to enjoy this amazing back yard with beautiful fruit trees! RV parking and wide driveway. Convenient to shopping, airport, entertainment, freeway access and public transportation. The garage conversion was permitted and believed to be completed by original builder for their sales office. Easy to show and ready for your offer, come make this beautiful home yours!
SEE MORE
- 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: 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 | $1,660 |
| EXPENSES | Loan Payment | -$1,218 |
| Property Tax | -$126 | |
| Property Insurance | -$71 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
$127
|
||
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.
$330,000
PROJECTED PRICE
$1,660
PROJECTED RENT
0.50%
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
$93,200
LOAN DETAILS
$1,218
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $82,500 |
| Loan Amount | $247,500 |
8.17
YEARS SAVED
$40,989
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
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$0
LIST RENT -
$0
LIST RENT PER SQFT
-
$1,774
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
-
3906 East Reno Avenue Las Vegas, NV 1
- 3 beds 1 baths ∙ 2,245 Sqft ∙ Built 1973 3 beds 1 baths ∙ 2,245 Sqft ∙ Built 1973
- Rent
- Rent Per SQFT
- $0
- $0.00
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5395 Modena Drive Las Vegas, NV 2
- 4 beds 1 baths ∙ 2,128 Sqft ∙ Built 1978 4 beds 1 baths ∙ 2,128 Sqft ∙ Built 1978
LEASED 03/06/20- Rent
- Rent Per SQFT
- $1,550
- $0.73
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5248 Rambling Las Vegas, NV 3
- 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 1979
LEASED 08/05/20- Rent
- Rent Per SQFT
- $1,600
- $0.77
-
3552 Sierra Patricia Avenue Las Vegas, NV 4
- 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 1993
LEASED 07/09/20- Rent
- Rent Per SQFT
- $1,695
- $0.80
-
3937 Deer Haven Court Las Vegas, NV 5
- 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 1973 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 1973
LEASED 10/01/19- Rent
- Rent Per SQFT
- $1,900
- $0.86
PROPERTY LISTING DETAILS
1.702.689.7210
Ruthe Realty
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2255377
Last Updated: 12/13/2020
