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4137 Midnight Crest Avenue North Las Vegas, NV 89031

3 Beds 2 Baths 1,655 sqft Built 2019

$366,500

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $221.45
  • 6 Days on Market
  • MLS # : 2266295
  • Updated Date : 02/05/2021 at 03:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,655 sqft
  • Baths : 2 full
Listing Agent

Urban Nest Realty

Listing Agent's Description

Beautiful single-story home in gated community near 215 Beltway! Lennar-built in 2019! This Kari Floorplan looks like a model home.. granite-counters, espresso cabinets, wood-style tile and all appliances are included. This is a smart home with Ring doorbell, smart thermostat, and smart lock. Kitchen lights turn off/on with Alexa! Very affordable HOA and no SID or LID. Close to everything!!

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: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k311k

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

Neighborhood: Highland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000105011001150120012501300135014001450150015501600Rent in $9671606

* 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
Theron And Naomi Goynes Elementary School Primary Regular 896 41 7
Lied Middle School Middle Regular 1,118 45 5
Shadow Ridge High School High Regular 2,697 105 6

Theron And Naomi Goynes Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 41
7
GreatSchools Rating

Lied Middle School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 45
5
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 2,697
  • # of teachers: 105
6
GreatSchools Rating
 

$329,850$403,150$366,500

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$1,273
Property Tax -$299
Property Insurance -$59
Property Management Fees -$119
CASH FLOW
-$280

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.

$366,500

PROJECTED PRICE

$1,470

PROJECTED RENT

0.40%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.96%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 7.63%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,873

INVESTMENT

$102,873

Down Payment
$91,625
Rehab Estimate
$5,750
Closing Costs
$5,498

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,625
Loan Amount $274,875
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,477

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,345
1$1,3452$1,3953$1,4704$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 4137 Midnight Crest Avenue North Las Vegas, NV 3
    • 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,655 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.89
    •  
  • 6022 Highland Gardens Drive North Las Vegas, NV 1
    • 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,470 Sqft ∙ Built 2001
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,345
    • $0.91
    •  
  • 6633 Pine Siskin Place #0 North Las Vegas, NV 2
    • 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,668 Sqft ∙ Built 2006
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.84
    •  
  • 4006 Passing Storm Lane North Las Vegas, NV 4
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.91
    •  
  • 6284 Highland Gardens Drive North Las Vegas, NV 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2002
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Suzett Hill
1.702.279.7199
Urban Nest Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2266295
Last Updated: 02/05/2021
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