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4122 Neighborly Court North Las Vegas, NV 89032

2 Beds 3 Baths 1,689 sqft Built 2001

$275,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $163.35
  • 10 Days on Market
  • MLS # : 2271448
  • Updated Date : 02/22/2021 at 21:31
CONSTRUCTION
  • Beds : 2
  • Floor Size : 1,689 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gk Properties

Listing Agent's Description

Welcome home! This gorgeous 2 bedroom, 2 and a half bath home, located in booming North Las Vegas, has an open floorplan with plenty of natural light. Dual primary rooms with walk in closets and spa like bathrooms. Kitchen boasts stainless steel appliances, breakfast bar and upgraded sink. No maintenance backyard with garden space and fully paved rear yard. Community has a sparkling pool, parks and playground. Make this charming property yours today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Renaissance

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k296k

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

Neighborhood: Renaissance

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29501000105011001150120012501300135014001450150015501600Rent in $9111603

* 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
Dr Claude Perkins Elementary School Primary Regular 682 40 4
Marvin M Sedway Middle School Middle Regular 1,514 52 NA
Canyon Springs High School High Magnet 2,791 114 2

Dr Claude Perkins Elementary School

  • Education Level: Primary
  • # of students: 682
  • # of teachers: 40
4
GreatSchools Rating

Marvin M Sedway Middle School

  • Education Level: Middle
  • # of students: 1,514
  • # of teachers: 52
NA
GreatSchools Rating

Canyon Springs High School

  • Education Level: High
  • # of students: 2,791
  • # of teachers: 114
2
GreatSchools Rating
 

$248,310$303,490$275,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$958
Property Tax -$210
Property Insurance -$60
Property Management Fees -$119
CASH FLOW
$133

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.

$275,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.75%
Appreciation Year (1-5) 11.3%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,864

INVESTMENT

$78,864

Down Payment
$68,975
Rehab Estimate
$5,750
Closing Costs
$4,139

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$958

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,975
Loan Amount $206,925
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,486

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4503$1,480
$1,480
RENT COMPS ANALYSIS
  • 4122 Neighborly Court North Las Vegas, NV 3
    • 2 beds 3 baths ∙ 1,689 Sqft ∙ Built 2001 2 beds 3 baths ∙ 1,689 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.88
    •  
  • 4843 Stormy Ridge Street North Las Vegas, NV 1
    • 2 beds 2 baths ∙ 1,458 Sqft ∙ Built 2002 2 beds 2 baths ∙ 1,458 Sqft ∙ Built 2002
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 3713 Birchdale Court North Las Vegas, NV 2
    • 2 beds 2 baths ∙ 1,660 Sqft ∙ Built 1995 2 beds 2 baths ∙ 1,660 Sqft ∙ Built 1995
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
PROPERTY LISTING DETAILS
George Kypreos
1.702.815.1555
Gk Properties
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2271448
Last Updated: 02/22/2021
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