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404 Falcon Lane Las Vegas, NV 89107

5 Beds 2 Baths 3,664 sqft Built 1976

$429,999

List Price

$3,150

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $117.36
  • 3 Days on Market
  • MLS # : 2262049
  • Updated Date : 01/16/2021 at 00:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,664 sqft
  • Baths : 1 full , 1 half
Listing Agent

Precision Realty

Listing Agent's Description

Amazing two story home with sauna, gorgeous wooden trusses and ceiling accents, balcony, covered patio, large backyard, oversized driveway - room for RV parking! Great location, minutes from Downtown Las Vegas, major shopping, and Freeway access! Brand new finishes throughout! Stunning bathrooms have new, dual vanities, custom tile flooring, modern mirrors and light fixtures, & built in shower shelving. The Spacious kitchen features brand new shaker cabinets, upgraded counters, tile backsplash, ss appliances, recessed lighting, and more! 2 bedrooms located downstairs with their own bathrooms. Brand new flooring/paint throughout home!

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: Upland-Harmony Park Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $77k296k

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

Neighborhood: Upland-Harmony Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29009501000105011001150120012501300135014001450150015501600Rent in $8811603

* 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
Red Rock Elementary School Primary Regular 787 42 3
Frank F. Garside Junior High School Middle Regular 1,209 52 NA
Western High School High Regular 2,534 112 2

Red Rock Elementary School

  • Education Level: Primary
  • # of students: 787
  • # of teachers: 42
3
GreatSchools Rating

Frank F. Garside Junior High School

  • Education Level: Middle
  • # of students: 1,209
  • # of teachers: 52
NA
GreatSchools Rating

Western High School

  • Education Level: High
  • # of students: 2,534
  • # of teachers: 112
2
GreatSchools Rating
 

$386,999$472,999$429,999

PURCHASE PRICE

$2,835$3,465$3,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,150
EXPENSES Loan Payment -$1,494
Property Tax -$238
Property Insurance -$98
Property Management Fees -$119
CASH FLOW
$1,201

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.

$429,999

PROJECTED PRICE

$3,150

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 13.8%
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$500k$1.0M$1.5M$2.0M$2.5M

PROJECTED ANNUAL CASH FLOW

11530$0.0$10k$20k$30k$40k$50k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,499
See What Happens When You Reinvest Cash Flow

16.58

YEARS SAVED

$120,048

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,150

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $3,737

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$3,150
1$3,1502$3,500
$3,500
RENT COMPS ANALYSIS
  • 404 Falcon Lane Las Vegas, NV 1
    • 5 beds 2 baths ∙ 3,664 Sqft ∙ Built 1976 5 beds 2 baths ∙ 3,664 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.86
    •  
  • 1555 Duneville Street Las Vegas, NV 2
    • 4 beds 3 baths ∙ 3,448 Sqft ∙ Built 1980 4 beds 3 baths ∙ 3,448 Sqft ∙ Built 1980
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Enzo Varela
1.702.280.8300
Precision Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2262049
Last Updated: 01/16/2021
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