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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $156.69
- 2 Days on Market
- MLS # : 2278477
- Updated Date : 03/13/2021 at 21:23
CONSTRUCTION
- Beds : 4
- Floor Size : 4,946 sqft
- Baths : 3 full , 1 half
Listing Agent
Realty One Group, Inc
Listing Agent's Description
THIS IS THE ONE! Truly amazing resort style backyard, built in BBQ, spa/pool with swim up bar and fountains, this 2 story home with finished basement is approximately 5000 SF and is nestled on a 14,810 SF corner lot in a small gated community. This is a definitely a home you will not mind being quarantined in. Bedroom downstairs was converted to Laundry room, but could easily be converted back into a bedroom. The finished basement has beautiful built ins and is carpeted with endless possibilities. DO NOT WAIT, THIS IS ONE HOME THAT YOU DO NOT WANT TO LET GET AWAY.
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: Grand Estates Street
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Grand Estates Street
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,880 |
| EXPENSES | Loan Payment | -$2,692 |
| Property Tax | -$543 | |
| Property Insurance | -$123 | |
| Property Management Fees | -$119 | |
|
CASH FLOW
-$597
|
||
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.
$775,000
PROJECTED PRICE
$2,880
PROJECTED RENT
0.37%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 4.05% |
| Appreciation Year (1-5) | 10.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 7.57% |
| 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
$211,125
LOAN DETAILS
$2,692
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $193,750 |
| Loan Amount | $581,250 |
1.83
YEARS SAVED
$9,150
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,880
LIST RENT -
$0.58
LIST RENT PER SQFT
-
$2,968
COMP ESTIMATED VALUE -
$0.6
COMP AVG. RENT PER SQFT
Comps Range
-
4100 Highland Castle Court Las Vegas, NV 2
- 4 beds 4 baths ∙ 4,946 Sqft ∙ Built 2000 4 beds 4 baths ∙ 4,946 Sqft ∙ Built 2000
![property image]()
- Rent
- Rent Per SQFT
- $2,880
- $0.58
-
8756 Castle View Avenue Las Vegas, NV 1
- 4 beds 3 baths ∙ 4,640 Sqft ∙ Built 1998 4 beds 3 baths ∙ 4,640 Sqft ∙ Built 1998
![property image]()
LEASED 02/12/21- Rent
- Rent Per SQFT
- $2,799
- $0.60
PROPERTY LISTING DETAILS
1.702.670.9363
Realty One Group, Inc
1.866.250.5610
Mynd Property Management
1453579
MLS #: 2278477
Last Updated: 03/13/2021
