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4140 Midnight Crest Avenue North Las Vegas, NV 89031

4 Beds 4 Baths 2,508 sqft Built 2019

$420,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $167.46
  • 3 Days on Market
  • MLS # : 2265360
  • Updated Date : 01/30/2021 at 02:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,508 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty

Listing Agent's Description

Like New, Beautiful Next Gen "Smart Home" with Dual Ower Suites, both with their own Laundry Rooms and large walk-in closets, Plus, Alexa Capabilities for locking the doors and turning off lights in the gated community of Crescent Hill in North Las Vegas. Bright open floor plan with upgraded kitchen with large pantry, island with seating,  Huge Upstairs Owner Suite w/ balcony overlooking the backyard, mountains, & walking trail.  Home comes with Owned Solar system. Electrical average less than $50/mo. Close to Everything, You Need! Sprouts Farmers Market, WinCo Foods, Las Vegas Athletic Club, Target, Costco, and Much, Much, More! CALL TODAY!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$378,000$462,000$420,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,459
Property Tax -$86
Property Insurance -$76
Property Management Fees -$119
CASH FLOW
$121

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.

$420,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.44%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$40,974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,856

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7504$1,8005$1,860
$1,860
RENT COMPS ANALYSIS
  • 4140 Midnight Crest Avenue North Las Vegas, NV 5
    • 4 beds 4 baths ∙ 2,508 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,508 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.74
    •  
  • 3320 Amish North Las Vegas, NV 1
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 6818 Dovecote Avenue #0 North Las Vegas, NV 2
    • 5 beds 3 baths ∙ 2,346 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,346 Sqft ∙ Built 2004
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 6699 Wood Thrush North Las Vegas, NV 3
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2006
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 3628 Pelican Brief Lane #0 North Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2008
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Kenneth Blumberg
1.702.809.5734
Exp Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2265360
Last Updated: 01/30/2021
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